Fluor (FLR) To Report Q4 Earnings: What's In The Cards?
Zacks Investment Research | Feb 15, 2018 09:40PM ET
Premium engineering and construction firm Fluor Corporation (NYSE:FLR) is scheduled to report fourth-quarter 2017 results on Feb 20.
Last quarter, the company reported an earnings beat of 15.5%. Fluor beat estimates thrice and missed once over the trailing four quarters, for an average positive surprise of 6.3%
Let's see how things are shaping up for this announcement.
Factors at Play
Fluor’s market diversity remains a key strength that helps it mitigate the cyclicality of markets in which it operates. The company’s strategy of maintaining a good business portfolio mix enables it to focus on the more stable business markets as well as capitalize on developing the cyclical markets at suitable times. The engineering and construction space is enjoying a good momentum right now, with the best net backlog and earnings growth in years. This bodes well for the company’s performance.
The company is poised to grow on the back of its strong track record of receiving awards, which is anticipated to prove conducive to bottom-line growth in the to-be-reported quarter as well. During the quarter under review, Fluor won an engineering, procurement and construction management (EPC) contract by Vopak Terminal Durban to deliver the Vopak Growth 4 Project in Durban, South Africa.
Further, it won a contract with Ontario Power Generation for the procurement and construction of refurbishment work at the Darlington nuclear generating station. Also, its joint venture was chosen by the Massachusetts Bay Transportation Authority as the design-build team for the $2-billion Green Line Light Rail Extension in Boston.
These awards are expected to boost Fluor’s top line in the quarter to be reported.
Fluor Corporation Price, Consensus and EPS Surprise
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