Stock Monitor: Sterling Construction Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 02, 2018 / Active-Investors.com has just released a free earnings report on Fluor Corp. (NYSE: FLR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=FLR. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on February 20, 2018. The engineering, construction, and operations Company initiated earnings guidance for FY18. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Sterling Construction Company, Inc. (NASDAQ: STRL), which also belongs to the Industrial Goods sector as the Company Fluor. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Fluor most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=FLR
Earnings Highlights and Summary
For the fourth quarter of the fiscal year 2017, Fluor's revenues were $5.03 billion, up 1% compared to $4.99 billion in Q4 2016. The Company's revenue numbers beat analysts' estimates of $4.77 billion.
For the full fiscal year 2017, Fluor generated revenues of $19.52 billion, up 3% compared to $19.04 billion in FY16.
During Q4 2017, Fluor's segment profit was $194.5 million, down from $248.6 million in Q4 2016. The Company's corporate general and administrative (G&A) expenses were $54.0 million in the reported quarter compared to $56.2 million in the year ago same period.
For Q4 2017, Fluor reported earnings of $60.3 million, or $0.43 per diluted share, compared to $70.5 million, or $0.51 per share, in Q4 2016. Excluding the tax effects of $37 million, or $0.27 per diluted share, the Company's net profit was $97 million, or $0.70 per diluted share, in Q4 2017, and were ahead of Wall Street's estimates of $0.63 per share.
Fluor's earnings attributable to common shareholders were $191.4 million, or $1.36 per diluted share, in FY17 compared to $281.4 million, or $2.00 per diluted share, in FY16. Excluding the one-time tax effects of $37 million, or $0.27 per diluted share, Fluor's adjusted earnings attributable to common shareholders were $228 million, or $1.63 per diluted share, in FY17.
Business Segments
Fluor's Energy, Chemicals, and Mining segment reported revenues of $9.38 billion in FY17, down from $9.75 billion in FY16, primarily due to the completion of certain chemicals projects. The segment's profit was $454.7 million in FY17, up 13% compared to $401.5 million in FY16. The segment's results for the fiscal year included a $44 million revision related to estimated cost increases on a downstream project. The segment's new awards totaled $5.4 billion in FY17 compared to $8.4 billion in FY16. The segment's backlog was $17.0 billion in FY17 compared to $21.8 billion at the end of FY16.
For FY17, Fluor's Industrial, Infrastructure, and Power segment's revenues advanced 7% to $4.37 billion from $4.09 billion in FY16. The segment reported a loss of $170.8 million in FY17 compared to a segment profit of $135.8 million in FY16. The segment's results for FY17 included charges of $260 million related to estimated cost increases on three power projects. The segment's new awards totaled $2.6 billion in FY17 compared to $6.2 billion in FY16. The segment's backlog was $7.7 billion in FY17 compared to $15.1 billion at the end of FY16.
Fluor's Government group reported revenues of $3.23 billion in FY17, reflecting a growth of 19% compared to $2.72 billion in FY16. The segment recorded a profit of $127.9 million, up 50% from $85.1 million in FY16. The segment's new awards totaled $2.6 billion in FY17 compared to $4.6 billion in FY16. The segment's backlog was $3.8 billion in FY17 compared to $5.2 billion at the end of FY16.
For FY17, Fluor's Diversified Services segment's revenues grew 3% to $2.54 billion compared to $2.47 billion in FY16. The segment had a profit of $133.6 million in FY17, up 10% compared to $121.9 million in FY16. The segment's new awards totaled $2.0 billion in FY17 compared to $1.8 billion in FY16.
Cash Matters
Fluor's cash and marketable securities were $2.1 billion at the end of FY17. During FY17, the Company generated $602 million in cash flow from operating activities and paid out $118 million in dividends.
Outlook
For the full fiscal year 2018, Fluor is establishing its initial earnings per diluted share forecasts at a range of $3.10 to $3.50.
Stock Performance Snapshot
March 29, 2018 - At Thursday's closing bell, Fluor's stock advanced 2.45%, ending the trading session at $57.22.
Volume traded for the day: 1.14 million shares.
Stock performance in the last month - up 0.56%; previous three-month period - up 11.21%; past twelve-month period - up 9.26%; and year-to-date - up 10.78%
After last Thursday's close, Fluor's market cap was at $8.00 billion.
Price to Earnings (P/E) ratio was at 30.18.
The stock has a dividend yield of 1.47%.
The stock is part of the Industrial Goods sector, categorized under the Heavy Construction industry. This sector was up 1.3% at the end of the session.
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