{"id":35339,"date":"2026-05-08T16:52:14","date_gmt":"2026-05-08T23:52:14","guid":{"rendered":"https:\/\/essential.construction\/news\/fluor-posts-drop-in-q1-awards-revenue\/"},"modified":"2026-05-08T16:52:14","modified_gmt":"2026-05-08T23:52:14","slug":"fluor-posts-drop-in-q1-awards-revenue","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/fluor-posts-drop-in-q1-awards-revenue\/","title":{"rendered":"Fluor posts drop in Q1 awards, revenue"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"text-to-speech\">\n    <button class=\"text-to-speech__button button\"><br \/>\n        <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.constructiondive.com\/static\/img\/play.svg?313321260226\" alt=\"-\"><br \/>\n        Listen to the article<\/p>\n<p>            <span class=\"text-to-speech__button__audio-length\">4 min<\/span><\/p>\n<p>    <\/button><\/p>\n<div class=\"text-to-speech__controls\">\n        <audio controls=\"\" class=\"js-text-to-speech\" preload=\"none\"><source src=\"https:\/\/text-to-speech.divecdn.com\/newspost\/819751\/2026-05-08_16.10.51\/fluor-posts-drop-q1-awards-revenue.wav\" type=\"audio\/mp3\"><\/source><\/audio><\/p>\n<div class=\"text-to-speech__controls__text\">\n            This audio is auto-generated. Please let us know if you have <a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/contact\/\" target=\"_blank\">feedback<\/a>.\n        <\/div>\n<\/p><\/div>\n<\/div>\n<p><span><span><span><span><span><span>The project pipeline at Fluor is swelling, but many of those wins have not officially hit the books yet.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>In fact, new awards fell sharply and revenue posted a drop, according to the <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/fluorenterprisesinc2023rbcr.q4web.com\/news\/news-details\/2026\/Fluor-Reports-First-Quarter-2026-Results\/default.aspx\" target=\"_blank\"><span><span><span><span><span><span><span>firm\u2019s first quarter earnings call<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> on Friday. Executives during the call said the drop in bookings reflects timing rather than demand.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cWe still feel very confident that 2026 awards are going to be higher than 2025,\u201d said Fluor CEO Jim Breuer during the call. \u201cThat is on the back of the quality of our prospects that we have in front of us, many of which we\u2019re working on right now.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The Irving, Texas-based contractor reported front-end engineering and planning work on more than $60 billion in potential projects, with another $40 billion in prospects under evaluation over the next three years. Many of those projects are already underway in the early phases, which Fluor should convert into backlog later this year.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Overall, Fluor\u2019s pipeline has grown 50% over the past year, said Breuer.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<figure class=\"image-right inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" alt=\"headshot of Jim Breuer\" data-imagemodel=\"164194\" src=\"https:\/\/imgproxy.divecdn.com\/a0FttgtrLbZWs14NPFCCLQNzBXztT9WxYh-1RbmrvlE\/g:nowe:32:0\/c:1440:1800\/rs:fit:0:860\/Z3M6Ly9kaXZlc2l0ZS1zdG9yYWdlL2RpdmVpbWFnZS9KaW1fQnJldWVyLmpwZw==.webp\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Jim Breuer<\/p>\n<p>Courtesy of Fluor<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>\u201cThis expansion reflects growing demand across the critical minerals, life science, LNG, nuclear, refining and power markets,\u201d said Breuer. \u201cThis is why we\u2019re optimistic about the future and confident in our ability to grow the company.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Fluor will continue to target opportunities around the <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/data-centers-power-march-construction-planning\/817115\/\" target=\"_blank\"><span><span><span><span><span><span><span>artificial intelligence infrastructure buildout<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>, including data centers and the power systems that support the facilities, said Breuer. For example, the company recently signed a limited notice to proceed on a large-scale <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/terawulf-fluor-data-center-preconstruction-kentucky-megaproject\/815027\/\" target=\"_blank\"><span><span><span><span><span><span><span>data center campus in Kentucky<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> with access to 480 megawatts of power.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>But Breuer added direct data center construction remains somewhat of a <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/data-center-project-cancellations-power-public-pushback\/818157\/\" target=\"_blank\"><span><span><span><span><span><span><span>difficult market<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cContract and commercial terms at the data center market remain challenging, especially regarding risk allocation,\u201d said Breuer. \u201cWe\u2019re staying disciplined and selective, and we\u2019re working to shape deals on a contract-by-contract basis, to ensure opportunities meet our return expectations.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Instead, Breuer sees greater potential in adjacent sectors, <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/data-center-construction-power\/816764\/\" target=\"_blank\"><span><span><span><span><span><span><span>particularly power generation<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>. He said demand for these projects is rising due to AI-driven electricity needs.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cWe believe that the greatest opportunity for growth, profitable growth, associated with the build up around data centers and AI is actually in the power sector,\u201d said Breuer. \u201cIt just fits better our expertise, our strong engineering, our strong global supply chain.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/iran-war-oil-price-construction-stress\/817413\/\" target=\"_blank\"><span><span><span><span><span><span><span>Geopolitical tensions in the Middle East<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> have introduced some uncertainty around Fluor\u2019s project timing and execution in the region. Breuer said the firm continues to monitor the situation closely, and is eyeing potential reconstruction and energy-related opportunities once conditions settle.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cOur activities in the Middle East have continued without interruption, despite the conflict,\u201d said Breuer. \u201cWe continue to serve our projects in the region and mitigate supply chain constraints.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>Q1 by the numbers<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><span><span>Fluor reported $160 in profit for its first quarter of 2026, compared to a loss of $241 million a year earlier. Revenue fell about 8% year over year from $3.98 billion to $3.66 billion, according to the report.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Backlog decreased to $25.73 billion, down around 10% from $28.72 billion a year ago. New awards hit $2.69 billion, down 54% from $5.81 billion in the prior-year period. Reimbursable work accounted for 82% of total backlog, according to Fluor.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The report posted \u201cincrementally negative\u201d results, according to Andrew Wittmann, senior research analyst at Baird, a Milwaukee-based financial services company.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cMessy earnings results well shy of expectations,\u201d wrote Wittman in a research note. \u201cNet, investors want clean results and strong awards; the report missed the former and was okay on the latter.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.constructiondive.com\/news\/fluor-posts-drop-q1-awards-revenue\/819751\/\" rel=\"nofollow noopener\" target=\"_blank\">This article was originally posted at Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Listen to the article 4 min This audio is auto-generated. 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