Fluor is scheduled the release its first-quarter 2018 financial earnings Thursday immediately after the stock market closes, with a conference call with financial analysts scheduled for 5:30 p.m. Eastern time.
The Dallas-based engineering and construction company, a major player in nuclear cleanup for the Department of Energy, slightly raised its full-year company-wide revenue to $19.5 billion from $19 billion in 2016. Net earnings, though, dropped from $281 million to $191 million on a year-over-year basis.
Revenue in Fluor’s government group, which includes business with DOE’s Office of Environmental Management, rose from $2.7 billion in 2016 to $3.2 billion in 2017. Net profit spiked from $85 million to $128 million.
In 2016, Fluor Idaho became the remediation contractor at the Idaho Site under a five-year agreement worth $1.4 billion. Fluor and partner BWX Technologies hold the decontamination and decommissioning contract at the Portsmouth Site in Piketon, Ohio, under a 10-year agreement that could be worth $2.5 billion through 2021.
Fluor and partner Westinghouse are believed to have recently submitted an updated proposal on a liquid waste management contract at the Savannah River Site in South Carolina. In February, the Government Accountability Office ruled DOE had not sufficiently vetted the technical aspect of the $4.7 billion contract awarded in October to a team led by BWXT.
Environmental services provider US Ecology will also report first-quarter financial results after the stock market closes Thursday. US Ecology will hold its conference call with Wall Street analysts at 10 a.m. Eastern time Friday.
The Boise, Idaho-based company reported $504 million in total revenue for 2017, which was up 6 percent from the $477.7 million reported in 2016. Also, 2017 revenue for its Environmental Services sector, including a low-level radioactive waste disposal site in Washington state, grew to $366.3 million from $337.8 million in 2016.
The 2017 operating income declined about 15 percent to $59.8 million, from $70 million the year before. But US Ecology’s net income was better in 2017 than 2016, growing from $34.3 million, $1.57 per diluted share, in 2016 to $49.4 million, $2.25 per diluted share, in 2017.
