Fluor (FLR) FY2014 results: revenue $21.5 billion, down 21.3% on the year
Fluor Corp. (FLR) reported revenue of $21.5 billion for fiscal 2014, the year ended 31 December 2014, down 21.3% on the year before. Net income was $511 million, down 23.5%, and diluted earnings per share $3.20. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2015.
Revenue
$21.5 billion
-21.3% on the year
FY2007FY2014
Operating margin
n/a
FY2007FY2014
Net income
$511 million
-23.5% on the year
FY2007FY2014
Diluted EPS
$3.20
-21.2% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
21,532
27,352
27,577
-21.3%
Cost of revenue
20,133
25,986
26,692
-22.5%
Gross profit
1,399
1,365
885
+2.5%
Gross margin
6.5%
5.0%
3.2%
Operating income
n/a
n/a
769
Operating margin
n/a
n/a
2.8%
Interest expense
29.7
26.9
28.2
+10.4%
Pre-tax income
1,205
1,178
734
+2.3%
Income tax
353
355
162
-0.5%
Effective tax rate
29.3%
30.1%
22.1%
Net income
511
668
456
-23.5%
Net margin
2.4%
2.4%
1.7%
Diluted EPS
$3.20
$4.06
$2.71
-21.2%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
643
789
604
-18.5%
Capital expenditure
325
288
255
+12.6%
Free cash flow
318
500
349
-36.5%
Free cash flow margin
1.5%
1.8%
1.3%
Depreciation and amortisation
193
207
212
-7.0%
Share-based compensation
48.2
42.9
37.4
+12.4%
Buybacks
906
200
389
+352.9%
Dividends paid
126
78.7
129
+60.3%
Dividend per share
$0.84
$0.64
$0.64
+31.2%
Diluted shares, weighted
160m
164m
168m
-2.9%
Shares outstanding at period end
149m
161m
162m
-7.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
3,111
3,757
3,341
-17.2%
Non-controlling interest
113
124
85.8
-8.8%
Debt
1,020
526
541
+93.8%
Other liabilities
3,950
3,917
4,308
+0.9%
Total liabilities and equity
8,194
8,324
8,276
-1.6%
Fixed assets
980
967
951
+1.4%
Goodwill
113
114
101
-1.0%
Intangible assets
23.0
24.0
21.0
-4.2%
Investments
449
461
455
-2.7%
Cash and equivalents
1,993
2,284
2,155
-12.7%
Other assets
4,636
4,474
4,592
+3.6%
Total assets
8,194
8,324
8,276
-1.6%
10-K for the year ended 31 December 2014, filed 18 February 2015: the filing.