Earnings fell at Fluor, Irving, Texas, in the second quarter, which the engineering and construction company attributed to factors affecting its non-nuclear markets.
Net earnings for the second quarter ended June 30 were $114 million, or $0.81 a share, down from $2.46 billion, or $14.81 a share, in the year-ago quarter. That is according to the earnings press release and slide presentation issued Friday.
Quarterly segment operating income for the Mission Solutions segment where Fluor directs its Department of Energy work was $44 million, up from $35 million a year ago, which the company attributed to higher fees earned from DOE. Segment revenue was $716 million, down from $762 million in the year-ago period.
Mission Solutions landed $2.2 billion worth of new awards during the quarter, which includes formally recording Fluor’s central role with Centrus Energy’s planned expansion of a uranium enrichment facility at DOE’s Portsmouth Site in Ohio, Fluor officials said during Friday’s earnings call.
Fluor, which leads the joint venture managing DOE’s Savannah River Site in South Carolina, has submitted its bid proposal for a new contract at the nuclear property, CEO Jim Breuer said during the Friday earnings call. Breuer also expects Fluor-led Savannah River Nuclear Solutions will receive a six-month extension for its current contract at the site.
“Our second quarter awards demonstrate the successful pull-through of our front-end work and the confidence clients have in Fluor to advance their most important investments,” Breuer said.