Infrastructure Giant Fluor Boasts Strong Q3 Earnings As Urban Solutions Segment Soars
Portfolio Pulse from Akanksha Bakshi
Fluor Corp (NYSE:FLR) reported a Q3 2023 revenue growth of 9.7% YoY to $3.96 billion, beating the consensus of $3.89 billion. The company's Urban Solutions segment saw a significant increase of 32% YoY. Net earnings improved to $206 million from $22 million a year ago. The company also announced that its Mining & Metals business has been selected by BHP Canada to develop Stage 2 of its Jansen potash project. Fluor raised its FY23 outlook and reaffirmed its FY26 guidance.
November 03, 2023 | 4:22 pm
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Fluor Corp reported strong Q3 earnings, beating consensus estimates. The company's Urban Solutions segment saw significant growth, and it secured a new project with BHP Canada. The company also raised its FY23 outlook.
Fluor Corp's strong Q3 earnings, growth in its Urban Solutions segment, and the new project with BHP Canada are all positive news that could drive the company's stock price up in the short term. The raised FY23 outlook also indicates the company's confidence in its future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100