Fluor Corp

FLR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$92.00	Ppnj	Lmhh

Fluor Earnings: Despite a Robust Backlog, Legacy Project Costs Weigh on Results

Krzysztof Smalec

Feb 20, 2024

No-moat Fluor posted a $21 million net loss in the fourth quarter, as results included a $33 million project charge due to cost overruns and delays on a legacy upstream project. After rolling our model forward one year, we’ve trimmed our fair value estimate to $37 from $37.50, which reflects our slightly more muted near-term expectations.

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