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In the last-reported quarter, the company’s earnings and revenues missed the Zacks Consensus Estimate by 85.4% and 7.9%, respectively. Revenues increased 3.1% but earnings declined 69.6% from the prior year.
Fluor’s earnings topped the consensus mark in only one of the last four quarters and missed on other three occasions, with the average negative surprise being 38.2%.
The Zacks Consensus Estimate for the fourth-quarter earnings has increased to 54 cents per share from 51 cents over the past 60 days. The said figure indicates a 72.2% rise from the year-ago earnings of 31 cents per share. The consensus mark for revenues is pegged at $4.14 billion, suggesting a 31.2% year-over-year increase.
Factors to Note
The company is likely to have registered growth across portfolios, given its focus on enhancing markets outside the traditional oil and gas sector, including energy transition, advanced technology and life sciences, high-demand metals, infrastructure and mission solutions.
Fluor’s market diversity remains a key strength, which is expected to have contributed to the quarterly performance. Contributions from its legacy projects in infrastructure, operations and maintenance baseload business, Advanced Technologies & Life Sciences business (comprising projects across the battery and data center markets) as well as focus on cutting-edge robotics and automation technology will likely be a major tailwind.
The company has also been gaining from a go-forward strategy, narrowing its focus of infrastructure business to the State Department of Transportation, moving away from large signature projects and focusing on regional road and bridge work.
Further, in a cut-throat competitive environment, Fluor continuously emphasizes on cost controls, which are likely to have been reflected in the company’s quarterly margins.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Fluor this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat estimates.
Earnings ESP: Fluor has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
KBR, Inc. (KBR - Free Report) reported mixed fourth-quarter 2022 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same.
The increasing global importance of national security, energy security, energy transition and climate change have been acting as major tailwinds for KBR.
AECOM (ACM - Free Report) reported better-than-expected results for first-quarter fiscal 2023, where earnings and revenues surpassed the Zacks Consensus Estimate.
On a year-over-year basis, ACM’s bottom line declined despite top-line growth. The company’s strong top-line performance was backed by strong organic NSR growth.
Martin Marietta Materials, Inc. (MLM - Free Report) reported mixed results for fourth-quarter 2022. Earnings beat the Zacks Consensus Estimate but revenues (products and services) missed the same. On a year-over-year basis, the metrics declined due to inclement weather in a number of key markets and higher operating costs.
Looking forward, Ward Nye, chairman and CEO of MLM, said, “In total, we expect full year 2023 aggregates shipments to be relatively flat but, given the carryover effects of our 2022 commercial actions and broad acceptance of our January 1, 2023 price increases, we are confident in our ability to continue to deliver accelerated margin expansion.”
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Here's What You Should Expect From Fluor's (FLR) Q4 Earnings
Fluor Corporation (FLR - Free Report) is scheduled to report fourth-quarter 2022 results on Feb 21, before the opening bell.
In the last-reported quarter, the company’s earnings and revenues missed the Zacks Consensus Estimate by 85.4% and 7.9%, respectively. Revenues increased 3.1% but earnings declined 69.6% from the prior year.
Fluor’s earnings topped the consensus mark in only one of the last four quarters and missed on other three occasions, with the average negative surprise being 38.2%.
Fluor Corporation Price and EPS Surprise
Fluor Corporation price-eps-surprise | Fluor Corporation Quote
Trend in Estimate Revision
The Zacks Consensus Estimate for the fourth-quarter earnings has increased to 54 cents per share from 51 cents over the past 60 days. The said figure indicates a 72.2% rise from the year-ago earnings of 31 cents per share. The consensus mark for revenues is pegged at $4.14 billion, suggesting a 31.2% year-over-year increase.
Factors to Note
The company is likely to have registered growth across portfolios, given its focus on enhancing markets outside the traditional oil and gas sector, including energy transition, advanced technology and life sciences, high-demand metals, infrastructure and mission solutions.
Fluor’s market diversity remains a key strength, which is expected to have contributed to the quarterly performance. Contributions from its legacy projects in infrastructure, operations and maintenance baseload business, Advanced Technologies & Life Sciences business (comprising projects across the battery and data center markets) as well as focus on cutting-edge robotics and automation technology will likely be a major tailwind.
The company has also been gaining from a go-forward strategy, narrowing its focus of infrastructure business to the State Department of Transportation, moving away from large signature projects and focusing on regional road and bridge work.
Further, in a cut-throat competitive environment, Fluor continuously emphasizes on cost controls, which are likely to have been reflected in the company’s quarterly margins.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Fluor this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat estimates.
Earnings ESP: Fluor has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Recent Construction Releases
KBR, Inc. (KBR - Free Report) reported mixed fourth-quarter 2022 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same.
The increasing global importance of national security, energy security, energy transition and climate change have been acting as major tailwinds for KBR.
AECOM (ACM - Free Report) reported better-than-expected results for first-quarter fiscal 2023, where earnings and revenues surpassed the Zacks Consensus Estimate.
On a year-over-year basis, ACM’s bottom line declined despite top-line growth. The company’s strong top-line performance was backed by strong organic NSR growth.
Martin Marietta Materials, Inc. (MLM - Free Report) reported mixed results for fourth-quarter 2022. Earnings beat the Zacks Consensus Estimate but revenues (products and services) missed the same. On a year-over-year basis, the metrics declined due to inclement weather in a number of key markets and higher operating costs.
Looking forward, Ward Nye, chairman and CEO of MLM, said, “In total, we expect full year 2023 aggregates shipments to be relatively flat but, given the carryover effects of our 2022 commercial actions and broad acceptance of our January 1, 2023 price increases, we are confident in our ability to continue to deliver accelerated margin expansion.”
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.