Earnings fell at Fluor, Irving, Texas, during the fourth quarter of 2025, which the engineering and construction company partly attributes to a share buyback program and losing an overseas court ruling.
Net earnings for the quarter ended Dec. 31 were a net loss of $1.6 billion or a loss of $9.87 a share, down from earnings of $1.9 billion or $10.57 a share, in the year-ago quarter, Fluor said Tuesday.
Quarterly results also reflect a net $2 billion reduction in the valuation of Fluor’s investment in NuScale Power, the small modular reactor (SMR) developer, Fluor said in its earnings release.
Quarterly revenue was $4.2 billion, down year-over-year from $4.3 billion from the same point in 2024.
Fluor posted its earnings press release Tuesday morning. Its earnings report slide deck and link to its conference call with Wall Street analysts Tuesday morning are available online.
For the full year, Fluor’s net losses amounted to $51 million or a net loss of $0.31 per share at the end of 2025. That’s down from net earnings of $2.1 billion or $12.30 a share in 2024.
Revenue for the year was $15.5 billion, down from $16.3 billion in 2024.
Quarterly segment profit for Mission Solutions, where Fluor directs its Department of Energy work, was $94 million compared to $153 million a year ago. Annual revenue for Mission Solutions was $2.7 billion, up from $2.6 billion for 2024.
2025 results were affected by a $642 million payment tied to litigation over a liquified natural gas project in Australia. Fluor, which completed the project more than a decade ago, said the court ruling is being appealed.
“Our growing confidence in capturing significant EPC [engineering, procurement and construction] awards in 2026 and into 2027 is supported by an improving capital spending environment and increasing client commitments,” said Fluor CEO Jim Breuer. The CEO cited Fluor’s recent EPC award for a Centrus Energy uranium enrichment plant.
Fluor, the lead partner in Savannah River Site prime Savannah River Nuclear Solutions, will be closely following the National Nuclear Security Administration (NNSA) solicitations at the Savannah River Site, the CEO said.