Project News / Industrial
Irving-Based Fluor Books Record $10.9 Billion in Q3 Awards as Backlog Reaches $34.3 Billion
Third-quarter new awards were the highest in the engineering and construction firm's history, more than three times the year-earlier total.
Fluor Corp. reported $10.87 billion in new awards for the third quarter, the highest quarterly total in the Irving company's history. The figure compares with $3.25 billion a year earlier, according to the company's Nov. 6 filing with the Securities and Exchange Commission.
Backlog stood at $34.3 billion on Sept. 30, up 21% from $28.2 billion a year earlier. About 69% of backlog is reimbursable work. By segment, Urban Solutions holds $19.2 billion, Energy Solutions $10.7 billion and Mission Solutions $4.5 billion.
Energy Solutions accounted for $7.7 billion of the quarter's awards, including Phase 2 of LNG Canada. Urban Solutions added two copper mining projects in Chile. The filing did not identify any new Texas projects.
Revenue rose 10% to $3.72 billion. Net earnings attributable to Fluor were $158 million, or $1.16 a share, compared with a $697 million loss a year earlier. The quarter included a $73 million pre-tax gain on the sale of Fluor's interest in ICA Fluor.
Adjusted EBITDA was $142 million, down from $161 million. Fluor affirmed its 2026 adjusted EBITDA guidance of $500 million to $525 million.
The company repurchased $300 million of stock in the quarter and $1.1 billion year to date, against a 2026 target of $1.4 billion.
