Earnings rose at Fluor, Irving, Texas, in the second quarter, which the global engineering company with a big footprint in the Department of Energy, attributed to long-term government and commercial contracts, according to a Friday press release.
Net earnings for the second quarter ended June 30 were $169 million, or $0.97 a share, up from $61 million, or $0.35 a share, in the year-ago quarter. Quarterly revenue was $4.2 billion, up year-over-year from $3.9 billion, according to the release.
Quarterly operating income for the Mission Solutions segment, where Fluor quarterbacks much of its Department of Energy and National Nuclear Security Administration (NNSA) work, was $41 million, up from $40 million a year ago, the company said. Segment revenue was $704 million, down slightly from $705 million in the year-ago period.
The company outlined its financial performance in an earnings press release and slide presentation, uploaded to its website. A link to a recording of Fluor executives conference call with Wall Street analysts is also available on the website.
In July, a BWX Technologies-led joint venture, where Fluor is a minority partner, received a notice to proceed from NNSA for operations and management of the Pantex Plant in Texas, said Fluor Chair and CEO David Constable. The estimated contract value to the joint venture is $30 billion, including the deal’s three five-year options, according to the presentation.
In addition, a Fluor-led joint venture handling environmental cleanup at the DOE Portsmouth Site in Ohio, is being extended potentially through September 2025, according to the Fluor earnings materials. The same goes for an Atkins-led team, in which Fluor is a minority member, which operates depleted uranium hexafluoride (DUF6) conversion facilities at Portsmouth as well as the Paducah Site in Kentucky.
Fluor is also a minority member of a BWXT-led team that won a $45-billion liquid waste contract at the Hanford Site in Washington state but has not started the work in the face of repeated court challenges.
Fluor also leads Savannah River Nuclear Solutions, the incumbent operations prime at DOE’s Savannah River Site in South Carolina.
