Fluor second quarter revenue rises 9% to $4.3 billion
Fluor (NYSE:FLR) reported Q2 2026 revenue of $4.3 billion, up 9% year over year, with GAAP net earnings attributable to the company of $114 million. Adjusted EPS was $0.91 and adjusted EBITDA $149 million. New awards were $6.1 billion and backlog $26.9 billion. Operating cash flow was -$317 million, including a $357 million NuScale-related tax payment.
How this was made
The 30-second read
Why it matters
The combination of higher revenue, higher adjusted EPS/EBITDA, and a jump in new awards to $6.1B is likely to support near-term sentiment. However, negative operating cash flow and the large NuScale-related tax payment are important for traders assessing earnings quality and free-cash-flow trajectory.
Market read
A fresh quarterly print with awards and backlog updates plus a cash-flow caveat can drive trading in FLR and influence how investors price backlog quality and conversion.
What to watch
Backlog is 85% tied to reimbursable projects, which may support revenue visibility but can also cap upside if reimbursable terms tighten or project timing slips.
Background
Fluor is an engineering, procurement, and construction services company; the article centers on its Q2 2026 financial results, awards, backlog, and cash flow drivers.
Ticker impact
Fluor reported Q2 2026 revenue of $4.3B (+9% YoY), GAAP net earnings of $114M, and new awards of $6.1B with backlog at $26.9B.
Shares already up about 3% in extended hours, suggesting the print is net supportive; follow-through likely depends on cash flow normalization and backlog conversion.
The article provides multiple earnings-style datapoints (revenue, EPS, EBITDA, awards, backlog) plus a specific cash flow drag (negative operating cash flow tied to a NuScale-related tax payment).
Market effects
Signals demand and contract momentum in engineering and construction services, with backlog composition (reimbursable share) relevant to margin expectations.
No specific regional demand signals beyond “selected markets” and reimbursable mix.
NuScale monetization and Aramco agreement mention could affect sentiment around energy and nuclear-adjacent project pipelines.
Counterpoint
Operating cash flow was negative $317M, including a $357M NuScale-related tax payment, which could make earnings quality look weaker than accrual metrics suggest.
Key entities
- companyFluor
Reported Q2 2026 revenue of $4.3B (+9% YoY), adjusted EPS of $0.91, new awards of $6.1B, backlog of $26.9B, and negative operating cash flow of $317M tied to a NuScale-related tax payment.
- companyNuScale
NuScale monetization completed in April; the article attributes a $357M tax payment within operating cash flow to NuScale-related items.
- companyAramco
Mentioned as part of a long-term agreement secured by Fluor.
