Fluor (FLR) Investor presentation summary

Company overview and strategic positioning

• Operates as a global provider of professional and technical solutions, serving clients in over 60 countries with a workforce of approximately 34,000 employees.

• Reported $15.5 billion in revenue for 2023 and is ranked #265 on the 2023 Fortune 500 list.

• Business groups include Energy Solutions, Urban Solutions, and Mission Solutions, each targeting diverse end markets.

• Backlog is geographically diversified (47% U.S., 53% non-U.S.) and primarily cost reimbursable (81%).

• Positioned to benefit from long-term megatrends, infrastructure spending, and supportive commodity pricing.

Business group performance and project highlights

• Urban Solutions achieved Q2 2024 segment profit of $105 million, with a backlog of $19.6 billion, up nearly 70% year-over-year.

• Mining & Metals secured a $1.1 billion award for an aluminum rolling facility in Alabama; prospects include rare earth refining and lithium projects.

• ATLS formed an alliance with Topsoe and ABB for green hydrogen electrolyzers and secured a major battery facility award in Germany.

• Mission Solutions reported Q2 2024 segment profit of $41 million, with a backlog of $3.8 billion and new awards of $63 million.

• Energy Solutions posted Q2 2024 segment profit of $75 million, with $582 million in new awards and progress on LNG Canada and ARAMCO projects.

Financial results and outlook

• Q2 2024 revenue was $4.2 billion, with consolidated segment profit of $194 million and adjusted EBITDA of $165 million.

• Operating cash flow reached $282 million, supported by joint venture distributions and customer payments.

• Cash and marketable securities totaled $2.6 billion at quarter-end.

• FY 2024 guidance: adjusted EPS of $2.50–$3.00, adjusted EBITDA of $625–$675 million, and operating cash flow of $500–$600 million.

• Segment margin guidance for 2024: Energy Solutions 5.0%, Urban Solutions 4.0%, Mission Solutions 6.0%.