Fluor Corp Reports Record Quarterly Awards and Increased Backlog in Q3 2026
Fluor Corporation (FLR) delivered a strong third quarter for fiscal year 2026, highlighted by record-breaking new awards totaling $10.9 billion. This surge has propelled the company's total backlog to $34.3 billion, a 21% year-over-year increase and its highest level this decade. Key drivers included a massive $7.5 billion award for the second phase of the LNG Canada project and significant activity in the Urban Solutions and Mission Solutions segments. Financial performance was bolstered by an adjusted EPS of $0.77, up 13% from the previous year, aided by aggressive share repurchases totaling $1.1 billion year-to-date. While revenue grew 10% to $3.72 billion, management noted some headwinds, including a $25 million mining project charge and a potential $2 billion reduction in backlog due to client scope changes. Despite these risks, the company reaffirmed its full-year adjusted EBITDA guidance of $500 million to $525 million.
Tickers: $FLR
Topics: backlog increase contract awards earnings report revenue growth share repurchases