Q4 2025 Fluor Corp Earnings Call Transcript
Key Points
- Fluor Corp (FLR) executed $754 million in share repurchases in 2025, with an additional $335 million in 2026, demonstrating strong capital return to shareholders.
- The company achieved a monetization solution for its investment in NuScale, receiving $2 billion since September 2025, with more expected in the coming months.
- Fluor Corp (FLR) completed several major projects successfully in 2025, including LNG Canada Phase 1, TCO in Kazakhstan, and BASF in China.
- The company is seeing improved confidence across its client base, with high levels of new front-end work and detailed negotiations on projects expected to convert to backlog in the second half of 2026.
- Fluor Corp (FLR) is actively pursuing opportunities in LNG, mining and metals, advanced technologies, and nuclear fuels, with an anticipated increase in new awards for 2026.
- Urban Solutions reported a profit decline to $205 million in 2025 from $304 million in 2024, reflecting $108 million in cost growth on three infrastructure projects.
- Energy Solutions reported a segment loss of $414 million for 2025, compared to a profit of $256 million in 2024, impacted by the Santos ruling and a temporary slowdown in execution in Mexico.
- Mission Solutions reported a profit of $94 million for 2025, down from $153 million in 2024, due to $60 million in reserves on a DoD project and a ruling on a project completed in 2019.
- Fluor Corp (FLR) ended 2025 with operating cash flow of negative $387 million, largely due to a $642 million payment to Santos.
- The company recorded $108 million in cost growth across three infrastructure projects, including a $30 million effect during Q4, impacting overall financial performance.
Good morning, and welcome to Fluor's fourth quarter and full year 2025 earnings conference call. Today's call is being recorded. (Operator Instructions) A replay of today's conference call will be available at approximately 10:30 AM Eastern Time today, accessible on Fluor's website at investor.fluor.com. The web replay will be available for 30 days. A telephone replay will also be available for seven days through a registration link, also accessible on Fluor's website at investor.fluor.com.
At this time, for opening remarks, I would like to turn the call over to Jason Landkamer, Vice President, Investor Relations. Please go ahead, Mr. Landkamer.
Thank you, Sarah, and welcome to Fluor's 2025 fourth-quarter earnings call. Jim Breuer, Fluor's Chief Executive Officer; and John Regan, Fluor's Chief Financial Officer, are with us today. Fluor issued its fourth-quarter earnings release earlier this morning, and a slide presentation is posted on our website that we will reference while making
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