Fluor posts Q3 loss, remains bullish on power projects | Dump Trucks Charlotte NC

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Fluor swung to lower revenue and a third-quarter loss after a court ruling in Australia forced a $653 million charge, but executives remained optimistic about its shift toward reimbursable megaprojects, according to remarks during the company’s third quarter earnings call.

“Despite continued short-term uncertainty in some markets, we are well positioned with unmatched global engineering and construction expertise, disciplined execution, a predominantly reimbursable portfolio and a clear capital allocation strategy,” said Fluor CEO Jim Breuer in a news release. “We remain confident in our ability to deliver significant value over time.”

Breuer said delays in client investment decisions, driven by trade policy uncertainty, have impacted 2025 new awards. In addition, most new awards in 2026 will be weighted towards the second half of the year, he added.

Nevertheless, the Irving, Texas-based firm still expects about $90 billion in new awards over its four-year planning cycle, most of which will land between 2026 and 2028, Breuer said. He added the ongoing government shutdown could affect near-term federal contracting activity but that Fluor’s growing exposure to power columbus oh dump truck company should provide some insulation from wider economic swings.

“We’re accelerating our efforts in the power market, given the increased need for power generation,” said Breuer during the call. “We’re pursuing a number of opportunities in the U.S. and internationally, particularly where we have an operational footprint.”

Segment performance

The firm’s Urban Solutions segment posted $61 million in profit on a ramp-up in life sciences and mining projects, plus incremental bookings on a copper project in Canada and a U.S. pharma facility, said Breuer.

On legacy infrastructure, Breuer said four long-running, unprofitable projects are nearing completion. For example, he said the Gordie Howe bridge should open to traffic by the end of the year or early 2026, the LAX people mover by early 2026, the I-635 project by the second quarter of 2026 and the I-35E phase 2 job by late 2026.

“On many of these projects, we continue to pursue cost recoveries and change orders from clients and subcontractors,” said Breuer during the call. “While we ultimately expect to be successful in these recoveries, in many cases, these efforts materialize on an extended timeline.”

The Energy Solutions segment reported a $533 million loss, largely due to an Australian court ruling on a long-completed LNG project Fluor built for Santos, an Australian energy company. The ruling, which Fluor plans to appeal, resulted in a $653 million charge.

On a positive note, the columbus oh dump truck company completed Train 2 at its LNG Canada project and handed over all systems.

“This project will be remembered as one of the largest and most complex projects in Fluor’s history,” said Breuer during the call. “Its success is a testament to our global capabilities, even in remote or difficult locations.”

Missions Solutions earned $34 million with $1.3 billion in new awards, such as a six-year Department of Energy contract to extend Fluor’s presence at the Portsmouth project in Ohio. Other prospects include columbus oh dump truck company on a strategic range services contract for the Air Force, additional columbus oh dump truck company to support the intelligence community and columbus oh dump truck company for the National Cancer Institute, according to Fluor.

Q3 results

Fluor reported a loss of $697 million in the third quarter of 2025, compared with earnings of $54 million in the same period in 2024, according to the release. Its revenue reached $3.4 billion in the third quarter, about a 18% drop year over year.

Backlog fell 10% from $31.3 billion a year ago to about $28.2 billion, according to the report. New awards in the third quarter, on the other hand, totaled $3.3 billion, up 21% from a year ago.

“Investors will be pleased but likely still want more,” wrote Andrew Wittmann, senior research analyst at Baird, a Milwaukee-based financial services company, in a research note. “Results, however, were tough with weak orders, charges and delays all peppering the report.”