THIRD QUARTER 2017 HO

Transcription

1 THIRD QUARTER 2017 HO

2 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, expenses, market outlook, new awards, backlog levels, and client capital investments. Words such as believes, expects, anticipates, assumes, may, positions, looking ahead, views, think, target, trend, can, appears, estimates, should, outlook, guidance or other similar expressions often identify forward-looking statements. Such statements are based on current management expectations as to what may occur in the future. Risks and uncertainties may cause actual results to differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Investors are cautioned not to place undue reliance on the forward-looking statements included in this presentation, which speak only as of the date hereof. The company disclaims any intent or obligation, other than as required by law, to update this information in light of new information or future events. Additional information about potential risk factors that could affect the Company s business and financial results is included in our Form 10-K filed on February 17, 2017, and Form 10-Q filed on November 2, During this presentation, we may discuss certain non-gaap financial measures. Reconciliations of these amounts, with the comparable GAAP measures, are reflected in our earnings release and are posted in the investor relations section of our website at investor.fluor.com. 2

3 A leading Engineering, Procurement, Fabrication and Construction (EPFC) company Integrated Solutions delivery model Long term global presence and mega-project experience Diversified across energy, industrial, infrastructure and government markets Strong Front-End Engineering and Design (FEED) capability $2.1 billion in cash and marketable securities at quarter-end Quarterly dividend $0.21 per share New awards of $3.8 billion in 3Q; backlog of $32.9 billion 2017 FLUOR CORPORATION. ALL RIGHTS RESERVED. 3

4 REVENUE 23% 15% 3Q 2017 $4.9 Billion 13% Energy, Chemicals & Mining Upstream, Downstream, Refining, Chemical, Petrochemical, Offshore, LNG, Pipeline, Mining Industrial, Infrastructure & Power Infrastructure, Power EPC, NuScale, Life Sciences & Advanced Manufacturing BACKLOG 25% 30 Sept 2017 $32.9 Billion 11% 8% Government U.S. and International Government Agencies 49% Diversified Services AMECO, TRS, Stork, Power Services 56% 2017 FLUOR CORPORATION. ALL RIGHTS RESERVED. 4

5 New Awards Backlog $44.7 $46.0 $47.3 $44.3 $45.0 $7.8 $6.4 $7.0 $41.6 $37.6 $4.7 $2.8 $2.3 $3.2 $3.8 $32.9 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q FLUOR CORPORATION. ALL RIGHTS RESERVED. 5

6 GEOGRAPHY CONTRACT TYPE 43% Europe, Africa & Middle East 6% Asia Pacific 64% 36% Reimbursable Fixed Price 11% The Americas 40% United States 2017 FLUOR CORPORATION. ALL RIGHTS RESERVED. 6

7 Quarter Ended ($ in millions, except EPS) 09/30/ /30/2016 Revenue $ 4,942 $ 4,767 Segment Profit Net Earnings (1) 94 5 EPS (diluted) (1) New Awards 3,823 7,022 Backlog 32,915 44,325 *(1) Net Net earnings and and EPS EPS attributable to to Fluor from continuing operations 2017 FLUOR CORPORATION. ALL RIGHTS RESERVED. 7

8 $4.06 $4.48 $3.89 $2.00 $1.50 $ * (est)** * Excludes pension settlement costs ** Guidance as of 11/2/2017 earnings call 2017 FLUOR CORPORATION. ALL RIGHTS RESERVED. 8

9 Segment Updates 2017 FLUOR CORPORATION. ALL RIGHTS RESERVED. HO

10 3Q new awards of $2.6 billion BHP Spence copper project in Chile Petrochemical projects in Malaysia, the Philippines and the United States Oil & Gas customers continue to focus on advantaged projects Oil & Gas opportunities include petrochemical, LNG and refining Mining prospects include copper, gold and iron ore replacement projects Backlog ($ in Billions) $30.5 $29.4 $21.8 $ Q FLUOR CORPORATION. ALL RIGHTS RESERVED. 10

11 3Q new awards of $628 million Significant progress in Infrastructure Started construction on Maryland Purple Line Completed first span of Mario M. Cuomo bridge Infrastructure pipeline includes domestic and international projects Ending backlog reflects removal of Vogtle nuclear project in Georgia Backlog ($ in Billions) $15.1 $5.0 $9.7 $ Q FLUOR CORPORATION. ALL RIGHTS RESERVED. 11

12 Serving Departments of Energy, Defense and Homeland Security 3Q new awards of $234 million Won $240 million bid from U.S. Army Corps of Engineers to help restore power to Puerto Rico Successfully bid Guam base operating support contract Backlog ($ in Billions) $4.7 $3.6 $5.2 $ Q FLUOR CORPORATION. ALL RIGHTS RESERVED. 12

13 Segment includes: Stork (incl. Fluor legacy O&M) AMECO TRS Power Services 3Q new awards of $338 million Operations support services in Columbia Asset integrity services contract in the North Sea Backlog ($ in Billions) $2.3 $2.1 $2.9 $ Q FLUOR CORPORATION. ALL RIGHTS RESERVED. 13

14 Backlog $32.9 billion $2.1 billion in Cash & Marketable Securities 2017 guidance of $ $1.60 per diluted share Oil & Gas, Mining and Infrastructure prospect pipeline improving Disciplined capital deployment strategy and robust cash flow generation Continue to manage internal costs 2017 FLUOR CORPORATION. ALL RIGHTS RESERVED. 14

15 Questions & Answers