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| Fluor posts financial results for 2008 Fluor Corp announced record financial results for its fiscal year ended December 31, 2008. Net earnings for 2008 rose 35 percent to a record $720 million, or $3.93 per diluted share, compared with $533 million, or $2.93 per diluted share in 2007. Consolidated operating profit for the year was $1.3 billion, up 61 percent from $802 million a year ago. Full year results reflect very strong profit growth in all business segments, driven by a 34 percent increase in revenue and higher operating margins which improved from 4.8 percent to 5.8 percent in 2008. Full year net earnings also benefited from a lower tax rate. Revenue rose to a record $22.3 billion, up from $16.7 billion in 2007. Full year new awards were a company record $25.1 billion, up from $22.6 billion a year ago, driven by increases in Oil & Gas and Industrial & Infrastructure. Year-end backlog was $33.2 billion, up 10 percent over the prior year. Backlog was down sequentially from the high mark of $36.5 billion at the end of the third quarter. write your comments about the article :: © 2009 Construction News :: home page |