0001124198-26-000007
SEC filingFluor Corporation reported challenging financial results for FY 2025, with revenue of $15.50 billion but a gross loss of $120.0 million due to cost of revenue exceeding revenue at $15.62 billion. This led to an operating loss of $378.0 million and a net loss attributable to Fluor of $51.0 million. The company experienced negative operating cash flow of $387.0 million, though investing activities generated $437.0 million primarily from a $605.0 million gain on the fair value of the forward sale contract of NuScale shares. Fluor's balance sheet shows total assets of $8.24 billion with shareholders' equity of $3.24 billion and long-term debt of $1.07 billion. The company repurchased $754.0 million of common stock during the year, contributing to a financing cash outflow of $797.0 million. Equity method earnings of $210.0 million provided some offset to operating losses, while the investment in NuScale represents a significant asset at $1.58 billion.
Fluor Corporation reported revenue of $15.50 billion for FY 2025, but faced significant profitability challenges with cost of revenue at $15.62 billion resulting in a gross loss of $120.0 million. Operating loss reached $378.0 million, driven by general and administrative expenses of $196.0 million and foreign currency losses of $62.0 million. The company reported net loss before equity method earnings of $272.0 million, partially offset by equity method earnings of $210.0 million. Net loss attributable to Fluor was $51.0 million, with basic and diluted EPS both at -$0 per share. Cash flow from operations was negative $387.0 million, while investing activities generated positive $437.0 million primarily from a $605.0 million gain on the fair value of the forward sale contract of NuScale shares.
Revenue of $15.50 billion represents the company's total contract revenue for the fiscal year. The document does not provide segment breakdown, geographic mix, or specific growth drivers beyond the aggregate revenue figure. Cost of revenue exceeded revenue by $120.0 million, indicating margin pressure on the company's project portfolio. No comparative prior year revenue figure is provided in the available data, preventing year-over-year growth analysis.
The company experienced negative gross margin as cost of revenue ($15.62B) exceeded revenue ($15.50B), resulting in a gross loss of $120.0 million. Operating margin was negative due to the gross loss combined with $196.0 million in general and administrative expenses and $62.0 million in foreign currency losses. Equity method earnings of $210.0 million provided partial offset to operating losses, reducing the net loss attributable to Fluor to $51.0 million. Interest income of $109.0 million exceeded interest expense of $42.0 million, providing some support to pre-tax results.
Operating cash flow was negative $387.0 million, driven by the net loss of $62.0 million adjusted for non-cash items including equity method earnings net of taxes ($302.0M), depreciation and amortization ($68.0M), and deferred taxes (-$511.0M). Investing cash flow was positive $437.0 million, primarily from a $605.0 million gain on the fair value of the forward sale contract of NuScale shares, partially offset by investments in partnerships and joint ventures ($278.0M). Financing cash flow was negative $797.0 million due to $754.0 million in common stock repurchases. The balance sheet shows total assets of $8.24 billion, including $2.13 billion in cash and cash equivalents and $1.58 billion investment in NuScale. Total liabilities were $4.96 billion with $1.07 billion in long-term debt, while shareholders' equity stood at $3.24 billion.
The provided document content does not include management guidance, strategic priorities, or specific risk factors beyond the financial statements. No forward-looking statements or outlook information is available in the extracted data. The financial results indicate challenges in project profitability and cash generation from operations, though the company maintains substantial liquidity with $2.13 billion in cash and cash equivalents and has realized significant gains from its NuScale investment position.