Fluor (FLR) FY2017 results: revenue $14.8 billion, down 22.2% on the year
Fluor Corp. (FLR) reported revenue of $14.8 billion for fiscal 2017, the year ended 31 December 2017, down 22.2% on the year before. Net income was $154 million, down 45.4%, and diluted earnings per share $1.09. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2018.
Revenue
$14.8 billion
-22.2% on the year
FY2010FY2017
Operating margin
1.4%
FY2010FY2017
Net income
$154 million
-45.4% on the year
FY2010FY2017
Diluted EPS
$1.09
-45.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
14,807
19,037
18,114
-22.2%
Cost of revenue
14,529
18,246
17,019
-20.4%
Gross profit
278
790
1,095
-64.9%
Gross margin
1.9%
4.2%
6.0%
Operating income
213
n/a
n/a
Operating margin
1.4%
n/a
n/a
Interest expense
67.5
69.7
44.8
-3.2%
Pre-tax income
53.8
547
727
-90.2%
Income tax
16.4
219
246
-92.5%
Effective tax rate
30.4%
40.1%
33.8%
Net income
154
281
413
-45.4%
Net margin
1.0%
1.5%
2.3%
Diluted EPS
$1.09
$2.00
$2.81
-45.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
602
706
849
-14.7%
Capital expenditure
283
236
240
+20.0%
Free cash flow
319
470
609
-32.2%
Free cash flow margin
2.2%
2.5%
3.4%
Cash from investing
-484
-741
-66.5
Cash from financing
-216
-10.3
-728
Depreciation and amortisation
225
226
190
-0.3%
Share-based compensation
40.7
40.1
61.1
+1.5%
Buybacks
0.0
9.7
510
Dividends paid
118
118
125
0.0%
Dividend per share
$0.84
$0.84
$0.84
0.0%
Diluted shares, weighted
141m
141m
147m
-0.0%
Shares outstanding at period end
140m
139m
139m
+0.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
3,342
3,125
2,997
+6.9%
Non-controlling interest
150
118
116
+27.6%
Debt
1,619
1,600
987
+1.2%
Other liabilities
4,216
4,373
3,531
-3.6%
Total liabilities and equity
9,328
9,216
7,632
+1.2%
Fixed assets
1,094
1,017
892
+7.5%
Goodwill
565
532
112
+6.1%
Intangible assets
188
190
24.3
-1.0%
Investments
275
255
418
+7.9%
Cash and equivalents
1,804
1,850
1,950
-2.5%
Other assets
5,402
5,372
4,236
+0.6%
Total assets
9,328
9,216
7,632
+1.2%
10-K for the year ended 31 December 2017, filed 20 February 2018: the filing.