Fluor Corporation Investor Overview Second Quarter 2014

Transcription

1 Fluor Corporation Investor Overview Second Quarter 2014 HO

2 Safe Harbor Statement Any forward-looking statements (including without limitation statements to the effect that the company or its management believes, expects, anticipates, plans, or other similar expressions) made in this presentation are based on current management expectations as to what may occur in the future. However, the company s actual results for future fiscal periods and any corporate developments will depend on a number of economic, competitive and other factors including some of which will be outside the control of the company. Such factors could cause the company s actual results for future periods to differ materially from those expressed in any forward-looking statements made in this presentation. Information concerning those factors is available in our Form 10-K filed on February 18, 2014 and Form 10-Q filed on July 31, HO

3 Fluor Profile A leading Engineering, Procurement, Construction and Maintenance Services (EPCM) company Long term global presence and mega-project experience Diversified across energy, industrial and government markets Strong Front-End Engineering and Design (FEED) capability $2.7 billion in cash and marketable securities at quarter-end New awards of $5.9 billion in 2Q; backlog of $40.3 billion Quarterly dividend $0.21 per share 3 HO

4 Global Business Segments 28% 11% 3%4% Oil & Gas Upstream, Downstream, Petrochemicals Industrial & Infrastructure Mining, Infrastructure, Manufacturing, Life Sciences, Operations & Maintenance Power Gas, Coal, Nuclear, Renewables 23% 13% 4% 54% Global Services AMECO, TRS, Fabrication, Construction, Supply Chain 60% Government U.S. Agencies 4 HO

5 New Awards & Backlog New Awards $10.7 $ in Billions Backlog $40.8 $38.2 $37.5 $37.0 $36.5 $40.2 $40.3 $34.9 $7.2 $6.3 $5.1 $6.5 $5.6 $5.8 $5.9 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 5 HO

6 Backlog $40.3 Billion 31% 34% 5% 30% 80% 20% United States The Americas Europe, Africa, and Middle East Asia Pacific Reimbursable Fixed Price 6 HO

7 Second Quarter 2014 Financial Performance Quarter Ended ($ in millions, except EPS) 6/30/2013 6/30/2014 Revenue $ 7,190 $ 5,252 Segment Profit Net Earnings * EPS (diluted) New Awards 7,194 5,863 Backlog $ 37,049 $ 40,328 * Net earnings attributable to Fluor from continuing operations 7 HO

8 Key Financial Statistics Quarter Ended ($ in millions, except EPS) 6/30/2013 6/30/2014 Cash and Marketable Securities $ 2,596 $ 2,675 Debt to Total Capital 13% 13% Quarterly Dividend per Share $ 0.16 $ 0.21 Return on Equity 13% 18% 8 HO

9 Earnings Per Share $4.06 $ $4.45 $3.40 $2.71 $ (est) 9 HO

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11 Government Serving Departments of Energy, Defense and Homeland Security Long-term contracts at DOE s Savannah River and Portsmouth sites Revenue ($ in Billions) New awards in 2Q included Magnox nuclear decommissioning contract in U.K. and LOGCAP IV task order awards $3.4 $3.3 $2.7 $1.2 Selected as preferred bidder for Paducah Deactivation and Shutdown contract YTD 11 HO

12 Global Services Segment includes: Revenue ($ in Millions) $573 $680 $662 Equipment Staffing Global procurement Construction Fabrication Fabrication partnerships in the Philippines, Mexico and Canada $ YTD 12 HO

13 Industrial & Infrastructure Backlog ($ in Billions) $21.5 $17.2 2Q New awards included EPCM of a large manufacturing facility in U.S. Limited opportunity in Infrastructure Fluor consortium was recently selected as the preferred bidder for A9 PPP-financed highway project in the Netherlands Continues to be a lack of significant prospects and awards in Mining and Metals $10.5 $ Q HO

14 Power Backlog consists of solar and gas-fired projects Executed a cooperative agreement with DOE on cost-sharing structure for NuScale funding Continuing to bid for new gas-fired opportunities this year in North America Expect prospects to improve in 2015 Backlog ($ in Billions) $1.8 $1.9 $2.0 $ Q HO

15 Oil & Gas Backlog ($ in Billions) $24.2 $20.0 $18.2 $ Q Q new awards of $1.5 billion included Delayed coking unit for a refinery in Belgium Additional work on Santos in Australia EPCM for a reverse osmosis project in Saudi Arabia LNG break bulk facility in The Netherlands Backlog currently $24.2 billion, up 29 percent from a year ago Strong prospect list in U.S., Canada, Mexico, the Middle East and Asia Expect a number of FEED programs to convert to EPC awards in 2014 and HO

16 Fluor Summary New awards: $5.9 billion in 2Q Prospects and FEED activity remain strong Strong growth in Oil & Gas segment Profit up 57 percent y-o-y Large prospects including upstream, downstream, petrochemical and LNG Backlog $40.3 billion 2014 EPS guidance maintained at $4.10 $4.45 $2.7 billion in Cash & Marketable Securities Share buybacks of $132 million in 2Q 16 HO

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