Fluor
Corporation (NYSE: FLR) today announced financial results for its
second quarter ended June 30, 2017. The second quarter was a net loss
attributable to Fluor of $24 million, or $0.17 per diluted share,
compared to net earnings attributable to Fluor of $102 million, or $0.72
per diluted share a year ago. Results for the quarter include an
after-tax charge of $124 million, or $0.89 per diluted share, for
estimated cost increases on three gas-fired power projects. Consolidated
segment profit for the quarter was $15 million, down from
$230 million a year ago. Second quarter revenue was $4.7 billion
compared to $4.9 billion in the prior year.
New awards for the quarter were $3.2 billion, including $1.1 billion in
Government, $860 million in Energy, Chemicals & Mining, $672 million in
Industrial, Infrastructure & Power and $554 million in Diversified
Services. Consolidated ending backlog was $37.6 billion.
“The challenges we have experienced over the last two years on gas-fired
power projects are inconsistent with the results we have historically
achieved,” said David Seaton, Fluor chairman and chief executive
officer. “With the recent leadership and organizational changes made in
our power segment, a reassessment of the power market is underway to
determine where the gas-fired power business offers adequate return
opportunities consistent with our expectations and long term experience.”
Corporate G&A expense for the second quarter of 2017 was $47 million,
compared to $53 million a year ago. Fluor’s cash and marketable
securities balance at the end of the second quarter was $2.1 billion.
During the quarter, the company generated $158 million in cash from
operating activities, and paid out $29 million in dividends.
Outlook
As a result of the charge in Industrial, Infrastructure & Power, and, to
a lesser extent the wind down of the V.C. Summer Nuclear Station
project, the Company is revising its 2017 guidance for EPS to a range of
$1.40 to $1.70 per diluted share, from the previous range of $2.25 to
$2.75 per diluted share.
Business Segments
Fluor’s Energy, Chemicals & Mining segment reported segment profit of
$127 million, compared to $126 million in the second quarter of 2016.
Second quarter revenue of $2.3 billion declined from $2.5 billion a year
ago primarily due to reduced activity on Gulf Coast chemicals projects.
New awards for the segment totaled $860 million and ending backlog was
$19.2 billion compared to $25 billion a year ago.
The Industrial, Infrastructure & Power segment reported a segment loss
of $168 million, compared to a segment profit of $51 million in the
second quarter of 2016. Results for the quarter include approximately
$194 million in pre-tax project expenses related to forecast adjustments
on three gas-fired power projects. Revenue for the segment was flat at
$1 billion compared to a year ago. New awards in the second quarter were
$672 million, including the Southern Gateway highway project in Texas.
Ending backlog for the segment was $11.4 billion, compared to $12.7
billion a year ago, and reflects an adjustment for the V.C. Summer
Nuclear Station project that is winding down.
The Government segment reported segment profit of $20 million, compared
to $22 million a year ago. Revenue for the quarter was $744 million,
compared to $658 million a year ago. Second quarter new awards of $1.1
billion include task orders for LOGCAP IV in Afghanistan and additional
funding for the Strategic Petroleum Reserve and the Idaho Cleanup
Project Core Contract. Ending backlog was $4.1 billion compared to $5.8
billion a year ago.
The Diversified Services segment reported segment profit of $36 million
in the second quarter of 2017, compared to $31 million a year ago.
Revenue for the quarter was $641 million compared to $712 million in the
second quarter of 2016. New awards totaled $554 million for the quarter,
and ending backlog was $2.9 billion compared to $3.7 billion a year ago.
Second Quarter Conference Call
Fluor will host a conference call at 5:30 p.m. Eastern time on Thursday,
August 3, which will be webcast live on the Internet and can be accessed
by logging onto http://investor.fluor.com.
A supplemental slide presentation will be available shortly before the
call begins. The webcast and presentation will be archived for 30 days
following the call.
Non-GAAP Financial Measure
This press release contains a discussion of consolidated segment profit
that would be deemed a non-GAAP financial measure under SEC rules.
Segment profit is calculated as revenue less cost of revenue and
earnings attributable to noncontrolling interests excluding: corporate
general and administrative expense; interest expense; interest income;
domestic and foreign income taxes; and other non-operating income and
expense items. The company believes that consolidated segment profit
provides a meaningful perspective on its business results as it is the
aggregation of individual segment profit measures that the company
utilizes to evaluate and manage its business performance. A
reconciliation of this measure to earnings before taxes is included in
the press release tables.
About Fluor Corporation
Fluor
Corporation (NYSE: FLR) is a global engineering, procurement,
fabrication, construction and maintenance company that designs, builds
and maintains capital-efficient facilities for its clients on six
continents. For more than a century, Fluor has served its clients by
delivering innovative and integrated solutions across the globe. With
headquarters in Irving, Texas, Fluor ranks 149 on the FORTUNE 500
list with revenue of $19 billion in 2016 and has more than 60,000
employees worldwide. For more information, please visit www.fluor.com
or follow Fluor on social media at Twitter,
LinkedIn
and YouTube.
Forward-Looking Statements:
This
release may contain forward-looking statements (including without
limitation statements to the effect that the Company or its management
"believes," "expects," is “positioned” or other similar expressions).
These forward-looking statements, including statements relating to
future growth, backlog, earnings and the outlook for the Company’s
business are based on current management expectations and involve risks
and uncertainties. Actual results may differ materially as a result of a
number of factors, including, among other things, the cyclical nature of
many of the markets the Company serves, including the Company’s Energy,
Chemicals & Mining commodity-based segment; the Company's failure to
receive new contract awards; the Company’s failure to meet cost and
schedule estimates; difficulties or delays incurred in the execution of
contracts, including those caused by the performance of the Company’s
clients, subcontractors, suppliers and joint venture or teaming
partners; client cancellations of, or scope adjustments to, existing
contracts; intense competition in the industries in which we operate;
current economic conditions affecting our clients, partners,
subcontractors and suppliers; foreign economic and political
uncertainties; failure of our joint venture or other partners, suppliers
or subcontractors to perform their obligations; cyber-security breaches;
failure to obtain favorable results in existing or future litigation or
dispute resolution proceedings or claims; client delays or defaults in
making payments; failure to meet timely completion or performance
standards; liabilities arising from faulty services; risks or
uncertainties associated with events outside of our control, including
weather conditions; the Company’s failure, or the failure of our agents
or partners, to comply with laws; the potential impact of certain tax
matters; possible information technology interruptions or inability to
protect intellectual property; new or changing legal requirements;
liabilities associated with the performance of nuclear services; foreign
exchange risks; the inability to hire and retain qualified personnel;
failure to maintain safe worksites and international security risks; the
availability of credit and restrictions imposed by credit facilities,
both for the Company and our clients, suppliers, subcontractors or other
partners; possible limitations on bonding or letter of credit capacity;
risks or uncertainties associated with acquisitions, dispositions and
investments; risks arising from the inability to successfully integrate
acquired businesses; and the Company’s ability to secure appropriate
insurance. Caution must be exercised in relying on these and other
forward-looking statements. Due to known and unknown risks, the
Company’s results may differ materially from its expectations and
projections.
Additional information concerning these and other factors can be
found in the Company's public periodic filings with the Securities and
Exchange Commission, including the discussion under the heading "Item
1A. Risk Factors" in the Company's Form 10-K filed on February 17, 2017.
Such filings are available either publicly or upon request from Fluor's
Investor Relations Department: (469) 398-7070. The Company disclaims any
intent or obligation other than as required by law to update its
forward-looking statements in light of new information or future events.
|
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FLUOR CORPORATION
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CONSOLIDATED FINANCIAL RESULTS
|
|
(in millions, except per share amounts)
|
|
Unaudited
|
|
|
|
|
|
|
|
|
|
CONSOLIDATED OPERATING RESULTS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
THREE MONTHS ENDED JUNE 30
|
|
2017
|
|
|
2016
|
|
Revenue
|
|
$
|
4,716.1
|
|
|
|
$
|
4,856.1
|
|
Cost and expenses:
|
|
|
|
|
|
|
|
Cost of revenue
|
|
|
4,684.1
|
|
|
|
|
4,607.9
|
|
|
Corporate general and administrative expense
|
|
|
47.3
|
|
|
|
|
52.6
|
|
|
Interest expense, net
|
|
|
8.6
|
|
|
|
|
14.2
|
|
Total cost and expenses
|
|
|
4,740.0
|
|
|
|
|
4,674.7
|
|
Earnings (loss) before taxes
|
|
|
(23.9
|
)
|
|
|
|
181.4
|
|
Income tax expense (benefit)
|
|
|
(17.3
|
)
|
|
|
|
61.4
|
|
Net earnings (loss)
|
|
|
(6.6
|
)
|
|
|
|
120.0
|
|
Less: Net earnings attributable to noncontrolling interests
|
|
|
17.4
|
|
|
|
|
18.2
|
|
Net earnings (loss) attributable to Fluor Corporation
|
|
$
|
(24.0
|
)
|
|
|
$
|
101.8
|
|
|
|
|
|
|
|
|
|
Basic earnings (loss) per share
|
|
|
|
|
|
|
|
Net earnings (loss)
|
|
$
|
(0.17
|
)
|
|
|
$
|
0.73
|
|
|
Weighted average shares
|
|
|
139.8
|
|
|
|
|
139.2
|
|
Diluted earnings (loss) per share
|
|
|
|
|
|
|
|
Net earnings (loss)
|
|
$
|
(0.17
|
)
|
|
|
$
|
0.72
|
|
|
Weighted average shares
|
|
|
139.8
|
|
|
|
|
140.8
|
|
|
|
|
|
|
|
|
|
New awards
|
|
$
|
3,194.8
|
|
|
|
$
|
6,431.8
|
|
Backlog
|
|
$
|
37,570.5
|
|
|
|
$
|
47,321.7
|
|
Work performed
|
|
$
|
4,609.8
|
|
|
|
$
|
4,757.7
|
|
|
|
|
|
|
|
|
FLUOR CORPORATION
|
|
CONSOLIDATED FINANCIAL RESULTS
|
|
(in millions, except per share amounts)
|
|
Unaudited
|
|
|
|
|
|
|
|
|
|
CONSOLIDATED OPERATING RESULTS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SIX MONTHS ENDED JUNE 30
|
|
2017
|
|
|
2016
|
|
Revenue
|
|
$
|
9,552.0
|
|
|
|
$
|
9,280.0
|
|
Cost and expenses:
|
|
|
|
|
|
|
|
Cost of revenue
|
|
|
9,370.0
|
|
|
|
|
8,776.0
|
|
|
Corporate general and administrative expense
|
|
|
92.4
|
|
|
|
|
107.7
|
|
|
Interest expense, net
|
|
|
20.1
|
|
|
|
|
25.7
|
|
Total cost and expenses
|
|
|
9,482.5
|
|
|
|
|
8,909.4
|
|
Earnings before taxes
|
|
|
69.5
|
|
|
|
|
370.6
|
|
Income tax expense (benefit)
|
|
|
(1.2
|
)
|
|
|
|
131.6
|
|
Net earnings
|
|
|
70.7
|
|
|
|
|
239.0
|
|
Less: Net earnings attributable to noncontrolling interests
|
|
|
34.1
|
|
|
|
|
32.9
|
|
Net earnings attributable to Fluor Corporation
|
|
$
|
36.6
|
|
|
|
$
|
206.1
|
|
|
|
|
|
|
|
|
|
Basic earnings per share
|
|
|
|
|
|
|
|
Net earnings
|
|
$
|
0.26
|
|
|
|
$
|
1.48
|
|
|
Weighted average shares
|
|
|
139.6
|
|
|
|
|
139.1
|
|
Diluted earnings per share
|
|
|
|
|
|
|
|
Net earnings
|
|
$
|
0.26
|
|
|
|
$
|
1.46
|
|
|
Weighted average shares
|
|
|
140.9
|
|
|
|
|
140.8
|
|
|
|
|
|
|
|
|
|
New awards
|
|
$
|
5,508.1
|
|
|
|
$
|
11,113.2
|
|
Backlog
|
|
$
|
37,570.5
|
|
|
|
$
|
47,321.7
|
|
Work performed
|
|
$
|
9,343.3
|
|
|
|
$
|
9,069.1
|
|
|
|
|
|
|
|
|
|
|
|
FLUOR CORPORATION
|
|
Unaudited
|
|
|
|
|
|
|
|
|
|
|
|
|
BUSINESS SEGMENT FINANCIAL REVIEW AND U.S. GAAP RECONCILIATION
|
|
|
|
|
|
|
|
($ in millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
THREE MONTHS ENDED JUNE 30
|
|
|
2017
|
|
|
|
|
|
2016
|
|
|
|
|
Revenue
|
|
|
|
|
|
|
|
|
|
|
Energy, Chemicals & Mining
|
|
$
|
2,304.0
|
|
|
|
|
$
|
2,476.4
|
|
|
|
|
|
Industrial, Infrastructure & Power
|
|
|
1,026.5
|
|
|
|
|
|
1,010.0
|
|
|
|
|
|
Government
|
|
|
744.2
|
|
|
|
|
|
657.9
|
|
|
|
|
|
Diversified Services
|
|
|
641.4
|
|
|
|
|
|
711.8
|
|
|
|
|
|
Total revenue
|
|
$
|
4,716.1
|
|
|
|
|
$
|
4,856.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit (loss) $ and margin %
(2)
|
|
|
|
|
|
|
|
|
|
|
Energy, Chemicals & Mining
|
|
$
|
126.6
|
|
|
5.5
|
%
|
|
$
|
125.5
|
|
|
5.1
|
%
|
|
|
Industrial, Infrastructure & Power (1)
|
|
|
(168.0
|
)
|
|
(16.4
|
)%
|
|
|
51.4
|
|
|
5.1
|
%
|
|
|
Government
|
|
|
19.7
|
|
|
2.7
|
%
|
|
|
22.0
|
|
|
3.3
|
%
|
|
|
Diversified Services
|
|
|
36.3
|
|
|
5.7
|
%
|
|
|
31.1
|
|
|
4.4
|
%
|
|
|
Total segment profit $ and margin %
|
|
$
|
14.6
|
|
|
0.3
|
%
|
|
$
|
230.0
|
|
|
4.7
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate general and administrative expense
|
|
|
(47.3
|
)
|
|
|
|
|
(52.6
|
)
|
|
|
|
|
Interest expense, net
|
|
|
(8.6
|
)
|
|
|
|
|
(14.2
|
)
|
|
|
|
|
Earnings attributable to noncontrolling interests
|
|
|
17.4
|
|
|
|
|
|
18.2
|
|
|
|
|
Earnings (loss) before taxes
|
|
$
|
(23.9
|
)
|
|
|
|
$
|
181.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SIX MONTHS ENDED JUNE 30
|
|
|
2017
|
|
|
|
|
|
2016
|
|
|
|
|
Revenue
|
|
|
|
|
|
|
|
|
|
|
Energy, Chemicals & Mining
|
|
$
|
4,606.2
|
|
|
|
|
$
|
4,919.9
|
|
|
|
|
|
Industrial, Infrastructure & Power
|
|
|
2,225.8
|
|
|
|
|
|
1,843.3
|
|
|
|
|
|
Government
|
|
|
1,509.4
|
|
|
|
|
|
1,343.9
|
|
|
|
|
|
Diversified Services
|
|
|
1,210.6
|
|
|
|
|
|
1,172.9
|
|
|
|
|
|
Total revenue
|
|
$
|
9,552.0
|
|
|
|
|
$
|
9,280.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit (loss) $ and margin %
(2)
|
|
|
|
|
|
|
|
|
|
|
Energy, Chemicals & Mining
|
|
$
|
214.9
|
|
|
4.7
|
%
|
|
$
|
307.5
|
|
|
6.3
|
%
|
|
|
Industrial, Infrastructure & Power (1)
|
|
|
(174.7
|
)
|
|
(7.8
|
)%
|
|
|
63.3
|
|
|
3.4
|
%
|
|
|
Government
|
|
|
48.7
|
|
|
3.2
|
%
|
|
|
39.1
|
|
|
2.9
|
%
|
|
|
Diversified Services
|
|
|
59.0
|
|
|
4.9
|
%
|
|
|
61.2
|
|
|
5.2
|
%
|
|
|
Total segment profit $ and margin %
|
|
$
|
147.9
|
|
|
1.5
|
%
|
|
$
|
471.1
|
|
|
5.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate general and administrative expense
|
|
|
(92.4
|
)
|
|
|
|
|
(107.7
|
)
|
|
|
|
|
Interest expense, net
|
|
|
(20.1
|
)
|
|
|
|
|
(25.7
|
)
|
|
|
|
|
Earnings attributable to noncontrolling interests
|
|
|
34.1
|
|
|
|
|
|
32.9
|
|
|
|
|
Earnings before taxes
|
|
$
|
69.5
|
|
|
|
|
$
|
370.6
|
|
|
|
|
|
|
(1) Includes research and development expenses associated with
NuScale totaling $17 million and $33 million for the three and six
months ended June 30, 2017, respectively, and $22 million and $48
million for the three and six months ended June 30, 2016,
respectively.
|
|
|
|
|
(2) Segment profit margin % is calculated as segment profit divided
by segment revenue.
|
|
|
|
|
|
|
|
|
|
|
FLUOR CORPORATION
|
|
Unaudited
|
|
|
|
|
|
|
|
|
|
|
SELECTED BALANCE SHEET ITEMS
|
|
|
|
|
|
|
|
($ in millions)
|
|
|
|
|
|
|
|
|
|
|
JUNE 30,
|
|
|
|
DECEMBER 31,
|
|
|
|
|
|
2017
|
|
|
|
|
|
2016
|
|
|
Cash and marketable securities, including noncurrent
|
|
$
|
2,144.9
|
|
|
|
|
$
|
2,105.0
|
|
|
Total current assets
|
|
|
5,613.8
|
|
|
|
|
|
5,610.3
|
|
|
Total assets
|
|
|
9,221.8
|
|
|
|
|
|
9,216.4
|
|
|
Total short-term debt
|
|
|
36.4
|
|
|
|
|
|
82.2
|
|
|
Total current liabilities
|
|
|
3,733.3
|
|
|
|
|
|
3,816.0
|
|
|
Long-term debt
|
|
|
1,560.5
|
|
|
|
|
|
1,517.9
|
|
|
Shareholders' equity
|
|
|
3,177.7
|
|
|
|
|
|
3,125.2
|
|
|
|
|
|
|
|
|
|
|
|
SELECTED CASH FLOW ITEMS
|
|
|
|
|
|
|
|
($ in millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SIX MONTHS ENDED JUNE 30
|
|
|
2017
|
|
|
|
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
Cash provided by operating activities
|
|
$
|
427.9
|
|
|
|
|
$
|
90.5
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities
|
|
|
|
|
|
|
|
|
Net (purchases) sales and maturities of marketable securities
|
|
(70.4
|
)
|
|
|
|
|
129.6
|
|
|
|
Capital expenditures
|
|
|
(141.6
|
)
|
|
|
|
|
(107.3
|
)
|
|
|
Proceeds from disposal of property, plant and equipment
|
|
|
27.9
|
|
|
|
|
|
39.0
|
|
|
|
Investments in partnerships and joint ventures
|
|
|
(191.1
|
)
|
|
|
|
|
(400.7
|
)
|
|
|
Acquisitions, net of cash acquired
|
|
|
-
|
|
|
|
|
|
(240.7
|
)
|
|
|
Other items
|
|
|
2.6
|
|
|
|
|
|
7.1
|
|
|
Cash utilized by investing activities
|
|
|
(372.6
|
)
|
|
|
|
|
(573.0
|
)
|
|
|
|
|
|
|
|
|
|
|
Financing activities
|
|
|
|
|
|
|
|
|
Repurchase of common stock
|
|
|
-
|
|
|
|
|
|
(9.7
|
)
|
|
|
Dividends paid
|
|
|
(59.3
|
)
|
|
|
|
|
(59.3
|
)
|
|
|
Proceeds from issuance of 1.75% Senior Notes
|
|
|
-
|
|
|
|
|
|
553.0
|
|
|
|
Debt issuance costs
|
|
|
-
|
|
|
|
|
|
(3.5
|
)
|
|
|
Repayment of Stork Notes and other borrowings
|
|
|
-
|
|
|
|
|
|
(332.5
|
)
|
|
|
Borrowings under revolving lines of credit
|
|
|
-
|
|
|
|
|
|
883.8
|
|
|
|
Repayment of borrowings under revolving lines of credit
|
|
|
(53.5
|
)
|
|
|
|
|
(851.6
|
)
|
|
|
Distributions paid to noncontrolling interests, net of capital
contributions
|
|
(17.0
|
)
|
|
|
|
|
(16.3
|
)
|
|
|
Other Items
|
|
|
6.7
|
|
|
|
|
|
4.5
|
|
|
Cash provided (utilized) by financing activities
|
|
|
(123.1
|
)
|
|
|
|
|
168.4
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash
|
|
|
37.2
|
|
|
|
|
|
(8.7
|
)
|
|
|
|
|
|
|
|
|
|
|
Decrease in cash and cash equivalents
|
|
$
|
(30.6
|
)
|
|
|
|
$
|
(322.8
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation
|
|
$
|
101.9
|
|
|
|
|
$
|
101.4
|
|
|
|
|
|
|
|
|
|
|
|
|
FLUOR CORPORATION
|
|
Supplemental Fact Sheet
|
|
Unaudited
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NEW AWARDS
|
|
|
|
|
|
|
|
|
|
($ in millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
THREE MONTHS ENDED JUNE 30
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy, Chemicals & Mining
|
|
$
|
860
|
|
27
|
%
|
|
$
|
1,173
|
|
18
|
%
|
|
Industrial, Infrastructure & Power
|
|
|
672
|
|
21
|
%
|
|
|
3,354
|
|
52
|
%
|
|
Government
|
|
|
1,109
|
|
35
|
%
|
|
|
1,241
|
|
19
|
%
|
|
Diversified Services
|
|
|
554
|
|
17
|
%
|
|
|
664
|
|
11
|
%
|
|
Total new awards
|
|
$
|
3,195
|
|
100
|
%
|
|
$
|
6,432
|
|
100
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SIX MONTHS ENDED JUNE 30
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy, Chemicals & Mining
|
|
$
|
1,677
|
|
31
|
%
|
|
$
|
1,752
|
|
16
|
%
|
|
Industrial, Infrastructure & Power
|
|
|
1,448
|
|
26
|
%
|
|
|
4,786
|
|
43
|
%
|
|
Government
|
|
|
1,282
|
|
23
|
%
|
|
|
3,506
|
|
31
|
%
|
|
Diversified Services
|
|
|
1,101
|
|
20
|
%
|
|
|
1,069
|
|
10
|
%
|
|
Total new awards
|
|
$
|
5,508
|
|
100
|
%
|
|
$
|
11,113
|
|
100
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
BACKLOG TRENDS
|
|
|
|
|
|
|
|
|
|
($ in millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AS OF JUNE 30
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy, Chemicals & Mining
|
|
$
|
19,213
|
|
51
|
%
|
|
$
|
25,118
|
|
53
|
%
|
|
Industrial, Infrastructure & Power
|
|
|
11,368
|
|
30
|
%
|
|
|
12,694
|
|
27
|
%
|
|
Government
|
|
|
4,099
|
|
11
|
%
|
|
|
5,816
|
|
12
|
%
|
|
Diversified Services
|
|
|
2,890
|
|
8
|
%
|
|
|
3,694
|
|
8
|
%
|
|
Total backlog
|
|
$
|
37,570
|
|
100
|
%
|
|
$
|
47,322
|
|
100
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
United States
|
|
$
|
17,936
|
|
48
|
%
|
|
$
|
21,517
|
|
45
|
%
|
|
The Americas (excluding the United States)
|
|
2,956
|
|
8
|
%
|
|
|
8,849
|
|
19
|
%
|
|
Europe, Africa and the Middle East
|
|
|
15,278
|
|
40
|
%
|
|
|
14,469
|
|
31
|
%
|
|
Asia Pacific (including Australia)
|
|
|
1,400
|
|
4
|
%
|
|
|
2,487
|
|
5
|
%
|
|
Total backlog
|
|
$
|
37,570
|
|
100
|
%
|
|
$
|
47,322
|
|
100
|
%
|
Fluor CorporationMedia RelationsBrian Mershon, 469-398-7621orBrett Turner, 864-281-6976orInvestor RelationsGeoff Telfer, 469-398-7070orJason Landkamer, 469-398-7222