Fluor Corp reported second-quarter revenue of $4.3 billion, up 9% year-over-year, with adjusted EBITDA of $149 million and adjusted EPS of $0.91. New awards exceeded $6 billion in the quarter, pushing backlog to $26.9 billion and supporting a book-to-bill ratio well above 1 for the full year. The company revised its full-year 2026 adjusted EBITDA guidance to $500 million to $525 million and adjusted EPS to $2.70 to $2.80, while raising adjusted operating cash flow guidance to $300 million to $320 million, excluding tax payments related to NuScale and the joint venture sale. Operating cash flow was negative $317 million, including a $357 million tax payment tied to the NuScale share conversion, but normalized positive operating cash flow would have been $40 million. Fluor also repurchased 6 million shares for $300 million in the quarter and is modeling $1.4 billion in buybacks for all of 2026.
Fluor CorporationStrong Q2 results, raised guidance, and increased buyback program
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