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| Fluor reports 2Q results Fluor Corp announced financial results for its second quarter ended June 30, 2009. Net earnings attributable to Fluor were $169 million, or $0.93 per diluted share, compared with $208 million or $1.12 per diluted share for the same period last year. Segment profit for the quarter was $309 million, compared with $392 million in the second quarter of 2008 which included a pre-tax gain of $79 million, or $0.27 per diluted share, from the sale of the company's joint venture interest in the Greater Gabbard Offshore Wind Farm project. Segment margin improved to 5.8 percent, from 5.4 percent a year ago excluding the Greater Gabbard gain. Revenue declined 8 percent to $5.3 billion in the second quarter of 2009, down from $5.8 billion a year ago, driven by declines in the Oil & Gas, Global Services and Power segments. New project awards for the second quarter were substantial at $6.8 billion, compared with $6.4 billion in new awards a year ago. Current quarter awards included a large mining project and a $1.3 billion oil sands project. Consolidated backlog rose to $30.9 billion, up from $29.1 billion last quarter, but down 6 percent from a year ago. Given the strength of our results to date, the company is maintaining its 2009 EPS guidance at a range of $3.80 to $4.10 per share. write your comments about the article :: © 2009 Construction News :: home page |