Fluor (FLR) FY2012 results: revenue $27.6 billion, up 17.9% on the year
Fluor Corp. (FLR) reported revenue of $27.6 billion for fiscal 2012, the year ended 31 December 2012, up 17.9% on the year before. Net income was $456 million, down 23.1%, and diluted earnings per share $2.71. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2013.
Revenue
$27.6 billion
+17.9% on the year
FY2007FY2012
Operating margin
2.8%
4.5% a year earlier
FY2007FY2012
Net income
$456 million
-23.1% on the year
FY2007FY2012
Diluted EPS
$2.71
-20.3% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
27,577
23,381
20,849
+17.9%
Cost of revenue
26,692
22,232
20,144
+20.1%
Gross profit
885
1,149
705
-23.0%
Gross margin
3.2%
4.9%
3.4%
Operating income
769
1,043
621
-26.3%
Operating margin
2.8%
4.5%
3.0%
Interest expense
28.2
15.6
10.6
+81.0%
Pre-tax income
734
1,002
560
-26.8%
Income tax
162
304
119
-46.5%
Effective tax rate
22.1%
30.3%
21.2%
Net income
456
594
357
-23.1%
Net margin
1.7%
2.5%
1.7%
Diluted EPS
$2.71
$3.40
$1.98
-20.3%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
604
890
551
-32.1%
Capital expenditure
255
338
265
-24.7%
Free cash flow
349
552
286
-36.7%
Free cash flow margin
1.3%
2.4%
1.4%
Cash from investing
n/a
n/a
218
Cash from financing
n/a
n/a
-390
Depreciation and amortisation
212
202
191
+5.2%
Share-based compensation
37.4
36.8
46.8
+1.7%
Buybacks
389
640
175
-39.1%
Dividends paid
129
87.7
90.1
+46.7%
Dividend per share
$0.64
$0.50
$0.50
+28.0%
Diluted shares, weighted
168m
175m
181m
-3.5%
Shares outstanding at period end
162m
169m
176m
-3.9%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
3,341
3,396
3,497
-1.6%
Non-controlling interest
85.8
64.4
31.6
+33.3%
Debt
541
533
114
+1.5%
Other liabilities
4,308
4,277
3,972
+0.7%
Total liabilities and equity
8,276
8,270
7,615
+0.1%
Fixed assets
951
922
866
+3.2%
Goodwill
101
95.9
87.8
+5.6%
Intangible assets
21.0
23.0
n/a
-8.7%
Investments
455
600
472
-24.1%
Cash and equivalents
2,155
2,161
2,135
-0.3%
Other assets
4,592
4,468
4,053
+2.8%
Total assets
8,276
8,270
7,615
+0.1%
10-K for the year ended 31 December 2012, filed 20 February 2013: the filing.