Fluor Turns To Profit In Q3 - Quick Facts

(RTTNews) - Fluor Corp. (FLR) reported that its third-quarter net earnings from containing operations was $23.4 million compared to a loss of $754.1 million in the prior year.

Revenue for the third-quarter declined to $3.80 billion from $4.63 billion in the prior year.

The Energy & Chemicals segment reported profit of $95 million in the third quarter of 2020 up from $85 million last year.

The Infrastructure & Power segment reported profit of $6 million in the third quarter of 2020 compared to $1 million in the third quarter of 2019.

The Government segment reported profit of $26 million in the third quarter of 2020, up from $22 million in the third quarter of 2019.

Fluor said it suspended its guidance for 2020. But it expects to report fourth quarter results and 2021 guidance to the investment community in February 2021. The company expects its cash balance to remain around $2 billion through the end of the year.