Fluor Corporation · NYSE:FLR
Fluor — Q1 2018 Earnings Presentation
16 slides from Fluor's earnings presentation, May 11, 2018
Slide 1: Safe Harbor Statement
SafeHarborStatement This presentation contains forward-looking statements concerning the expected financial performance of Fluor Corporation and its subsidiaries (“we,” “our” or the “Company”) and the Company’s strategic and operation plans, including statements about our projected earnings level, e
Slide 2: Fluor Profile
FluorProfile • A leading Engineering, Procurement, Fabrication, Construction and Maintenance (EPFCM) company • • Long term global presence and mega-project experience Diversified across energy, industrial, infrastructure and government markets • Strong Front-End Engineering and Design (FEED) capabil
Slide 3: Global Business Segments
GlobalBusinessSegments REVENUE | 1Q 2018 BACKLOG | $29.1 31 MAR 2018 BILLION $4.8 BILLION 8% 14% 8% BA CKLOG LEGEND Energy & Chemicals Upstream, Downstream, Refining, Chemical, Petrochemical, Offshore, LNG, Pipeline 27% 40% Mining, Industrial, Infrastructure & Power Mining, Infrastructure, Power EPC
Slide 4: New Awards & Backlog
New A w ards & Backlog NEW A W ARDS ($B) BACKLOG ($B) $3.8 $41.6 $30.9 $29.1 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 5 5 $37.6 $32.9 $3.2 $3.2 $2.3 $2.5
Slide 5: Backlog – $29.1 Billion
Backlog– $29.1Billion GEOGRAPHY ASIA PACIFIC 5% 13% AMERICAS CONTRACT TYPE 38% Fixed Price 40% UNITED STATES 62% Reimbursable EUROPE, AFRICA & MIDDLE EAST 6 6
Slide 6: Fluor Has a Low Risk, High Quality Backlog
FluorHasaLow Risk, HighQualityBacklog Projects by Size 1 Fixed Price Contr a cts by Segme n t Diversified Services 2% Energy & Chemicals 35% Over $2,000mm 47% Under $2,000mm 53% Mining, Industrial, Infrastructure, & Power 63% 1 Based on backlog as of Q1 2018. 7 •Fluor continues to maintain a strong
Slide 7: Power Update
Po w e r U p d a t e Greensville County, VA Project Citrus County, FL Project Anderson County, SC Project Freeman, VA Project Project Type Gas-fired Power Plant Gas-fired Power Plant Gas-fired Power Plant Gas-fired Power Plant Original Booking Value $1.1bn $0.6bn $0.3bn $0.9bn Remaining backlog as o
Slide 8: Earnings Per Share
Earnings P e r Share $4.48 2014 2015* 2016 2017 2018 (est)** * Excludes pension settlement costs. ** Guidance as of 5/3/2018 earnings call. 9 9 $3.89 $2.10 - $2.50 $2.00 $1.36
Slide 9: Segment Updates
SEGMENT UPDATES 10 ©2018 FLUOR CORPORATION. ALL RIGHTS RESERVED.
Slide 10: Energy & Chemicals
Energy&Chemicals • 1Q new awards of $721 billion • Monoethylene glycol facility for MEGlobal • COOEC-Fluor fabrication yard activity increasing • Currently executing on two offshore and one onshore project • 6,500 craft workers onsite $20.5 • Oil & Gas opportunities include petrochemical, LNG and re
Slide 11: Mining, Industrial, Infrastructure & Power
Mining, Industrial,Infr astructure& P o wer • 1Q new awards of $1.3 billion • Includes large copper mine expansion project in Peru • Mining prospects include copper, gold and iron ore replacement projects • Opportunities in South America, Africa and Australia $16.4 • Exiting lump-sum gas fired power
Slide 12: Government
Government • 1Q new awards of $43 million • Substantially completed power restoration work for the USACE in Puerto Rico • Extension of Savannah River contract to July 2019 $5.2 • Prospects in 2018 include LOGCAP V, Hanford liquid waste • Remain well positioned for future disaster relief efforts AWAR
Slide 13: Diversified Services
DiversifiedServ ices • 1Q new awards of $433 million • 1Q results reflect growth from Stork operations in Latin America and North America • Segment includes: $2.9 • Stork (operations & maintenance) • AMECO (construction equipment) • TRS (professional staffing) AWARDS • Power Services (Power facility
Slide 14: Fluor & NuScale Partnership
Fluor&NuScale Pa rtnership Update on Small Modular Reactor Market & • Highly attractive, clean power source • Maximizes cost and schedule benefits from repetitive factory fabrication Advanced nuclear technology producing safe, reliable energy at a competitive price point • The Fluor and NuScale part
Slide 15: Summary
Summary • Backlog of $29.1 billion • $1.8 billion in Cash & Marketable Securities • • 2018 guidance of $2.10 - $2.50 per diluted share Major end markets improving • • • Oil & Gas (LNG, petrochemicals) Mining (copper, iron ore, bauxite, gold) Infrastructure (roads and bridges) • Commitment to discipl
Slide 16: Summary
Summary + Backlog of $29.1 billion + $1.8 billion in Cash & Marketable Securities + 2018 guidance of $2.10 - $2.50 per diluted share + Major end markets improving + Oil & Gas (LNG, petrochemicals) + Mining (copper, iron ore, bauxite, gold) + Infrastructure (roads and bridges) + Commitment to discipl