Fluor (FLR)
NYSEIndustrialsEngineering & ConstructionSnapshot 2026-09-09
$54.83-3.16%
Close 2026-09-09 · 1-day change
NYSEIndustrialsEngineering & ConstructionSnapshot 2026-09-09
Warn: Primary pillar under pressure — Sustain revenue growth near consensus: Q2 FY26 rev +9.0% vs 8% target.
Fluor is improving cash flow and profitability with operating cash rising from -$286M to $110M. Net income turned positive at $160M in Q1 2026. The company has raised its EPS guidance for 2025 to $2.15 per share. New contracts and project completions support revenue growth potential.
Revenue is declining, down 8% year over year in Q1 2026. Recent earnings missed expectations by 77%. Management changes and soft guidance raise concerns about execution. Profit margins and free cash flow remain fragile.
The stock trades about 14% below our fair value near $58. Analysts expect 8% revenue growth, but recent results and guidance are soft. The market prices in a cautious recovery, which aligns with our watch conviction.
Breaks if: operating cash flow falls below $0 in any quarter after 2026-Q1
Breaks if: EPS falls below $2.1 per share in 2025-FY
Breaks if: net income falls below $0 in any quarter after 2026-Q1
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
FLR represents a turnaround investment with a focus on disciplined growth in selected markets. The current thesis state is cautious, as recent performance has been mixed, but management is executing on key priorities.
The market currently prices FLR as cheap compared to its peers, reflecting an expectations gap. This suggests that investors may be anticipating challenges ahead, given the company's recent earnings misses and overall performance.
Management's execution on disciplined growth and backlog expansion is likely to continue, supported by recent revenue growth. However, the company remains loss-making, which introduces some risk in the near term.
The long-term thesis hinges on FLR's ability to raise guidance in upcoming quarters and the performance of sector bellwethers like PWR, FIX, and EME. A favorable shift in these areas could provide positive momentum.
The most important moves since the prior daily snapshot.
Signal changed from 'mild_favorable' to 'mixed'.
Mixed, the news cuts both ways. The latest earnings beat supports revenue growth. However, profitability concerns may hinder margin improvement efforts.
as of 2026-09-09
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Breaks if: revenue growth falls below 0% YoY in FY26
Over the next 1 to 3 years, FLR's performance will depend on its ability to navigate sector challenges and execute on its growth strategies. Not investment advice.