Overview
- The company outlined 2026 targets of adjusted EBITDA of $525–585 million and adjusted EPS of $2.60–3.00, assuming the planned repurchase program.
- Fluor plans roughly $1.4 billion of share repurchases in 2026 after buying back about $754 million in 2025 and executing additional purchases early this year.
- Consolidated backlog ended 2025 at $25.5 billion, about 81% reimbursable, and management expects new awards in 2026 to be significantly higher than last year.
- Fluor has received roughly $2 billion from NuScale since September 2025 and expects to complete monetization in the second quarter of 2026.
- An Energy Solutions loss was driven by an approximately $642–643 million Santos payment recorded in Q4, which enabled an appeal process anticipated for mid-2026 with no near-term updates expected.