Fluor (FLR) FY2013 results: revenue $27.4 billion, down 0.8% on the year
Fluor Corp. (FLR) reported revenue of $27.4 billion for fiscal 2013, the year ended 31 December 2013, down 0.8% on the year before. Net income was $668 million, up 46.3%, and diluted earnings per share $4.06. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2014.
Revenue
$27.4 billion
-0.8% on the year
FY2007FY2013
Operating margin
n/a
2.8% a year earlier
FY2007FY2013
Net income
$668 million
+46.3% on the year
FY2007FY2013
Diluted EPS
$4.06
+49.8% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
27,352
27,577
23,381
-0.8%
Cost of revenue
25,986
26,692
22,232
-2.6%
Gross profit
1,365
885
1,149
+54.3%
Gross margin
5.0%
3.2%
4.9%
Operating income
n/a
769
1,043
Operating margin
n/a
2.8%
4.5%
Interest expense
26.9
28.2
15.6
-4.8%
Pre-tax income
1,178
734
1,002
+60.5%
Income tax
355
162
304
+118.3%
Effective tax rate
30.1%
22.1%
30.3%
Net income
668
456
594
+46.3%
Net margin
2.4%
1.7%
2.5%
Diluted EPS
$4.06
$2.71
$3.40
+49.8%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
789
604
890
+30.7%
Capital expenditure
288
255
338
+13.2%
Free cash flow
500
349
552
+43.4%
Free cash flow margin
1.8%
1.3%
2.4%
Depreciation and amortisation
207
212
202
-2.5%
Share-based compensation
42.9
37.4
36.8
+14.7%
Buybacks
200
389
640
-48.6%
Dividends paid
78.7
129
87.7
-38.8%
Dividend per share
$0.64
$0.64
$0.50
0.0%
Diluted shares, weighted
164m
168m
175m
-2.5%
Shares outstanding at period end
161m
162m
169m
-0.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
3,757
3,341
3,396
+12.4%
Non-controlling interest
124
85.8
64.4
+44.3%
Debt
526
541
533
-2.7%
Other liabilities
3,917
4,308
4,277
-9.1%
Total liabilities and equity
8,324
8,276
8,270
+0.6%
Fixed assets
967
951
922
+1.7%
Goodwill
114
101
95.9
+12.6%
Intangible assets
24.0
21.0
23.0
+14.3%
Investments
461
455
600
+1.3%
Cash and equivalents
2,284
2,155
2,161
+6.0%
Other assets
4,474
4,592
4,468
-2.6%
Total assets
8,324
8,276
8,270
+0.6%
10-K for the year ended 31 December 2013, filed 18 February 2014: the filing.