Fluor (FLR) FY2011 results: revenue $23.4 billion, up 12.1% on the year
Fluor Corp. (FLR) reported revenue of $23.4 billion for fiscal 2011, the year ended 31 December 2011, up 12.1% on the year before. Net income was $594 million, up 66.1%, and diluted earnings per share $3.40. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2012.
Revenue
$23.4 billion
+12.1% on the year
FY2007FY2011
Operating margin
4.5%
3.0% a year earlier
FY2007FY2011
Net income
$594 million
+66.1% on the year
FY2007FY2011
Diluted EPS
$3.40
+71.7% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
23,381
20,849
21,990
+12.1%
Cost of revenue
22,232
20,144
20,689
+10.4%
Gross profit
1,149
705
1,301
+62.9%
Gross margin
4.9%
3.4%
5.9%
Operating income
1,043
621
1,251
+68.1%
Operating margin
4.5%
3.0%
5.7%
Interest expense
15.6
10.6
10.1
+47.0%
Pre-tax income
1,002
560
1,137
+79.0%
Income tax
304
119
404
+156.3%
Effective tax rate
30.3%
21.2%
35.5%
Net income
594
357
685
+66.1%
Net margin
2.5%
1.7%
3.1%
Diluted EPS
$3.40
$1.98
$3.75
+71.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
890
551
905
+61.5%
Capital expenditure
338
265
233
+27.4%
Free cash flow
552
286
672
+93.2%
Free cash flow margin
2.4%
1.4%
3.1%
Cash from investing
n/a
218
-818
Cash from financing
n/a
-390
-323
Depreciation and amortisation
202
191
182
+6.0%
Share-based compensation
36.8
46.8
33.6
-21.5%
Buybacks
640
175
125
+265.3%
Dividends paid
87.7
90.1
90.7
-2.7%
Dividend per share
$0.50
$0.50
$0.50
0.0%
Diluted shares, weighted
175m
181m
181m
-3.5%
Shares outstanding at period end
169m
176m
179m
-4.2%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
3,396
3,497
3,306
-2.9%
Non-controlling interest
64.4
31.6
28.4
+103.6%
Debt
533
114
17.7
+365.7%
Other liabilities
4,277
3,972
3,827
+7.7%
Total liabilities and equity
8,270
7,615
7,178
+8.6%
Fixed assets
922
866
837
+6.4%
Goodwill
95.9
87.8
88.1
+9.2%
Intangible assets
23.0
n/a
n/a
Investments
600
472
939
+27.0%
Cash and equivalents
2,161
2,135
1,687
+1.2%
Other assets
4,468
4,053
3,628
+10.2%
Total assets
8,270
7,615
7,178
+8.6%
10-K for the year ended 31 December 2011, filed 22 February 2012: the filing.