Fluor (FLR) FY2018 results: revenue $18.9 billion, up 27.3% on the year
Fluor Corp. (FLR) reported revenue of $18.9 billion for fiscal 2018, the year ended 31 December 2018, up 27.3% on the year before. Net income was $173 million, up 12.9%, and diluted earnings per share $1.23. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$18.9 billion
+27.3% on the year
FY2011FY2018
Operating margin
2.7%
1.4% a year earlier
FY2011FY2018
Net income
$173 million
+12.9% on the year
FY2011FY2018
Diluted EPS
$1.23
+12.8% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
18,851
14,807
19,037
+27.3%
Cost of revenue
18,282
14,529
18,246
+25.8%
Gross profit
569
278
790
+105.0%
Gross margin
3.0%
1.9%
4.2%
Operating income
510
213
n/a
+139.2%
Operating margin
2.7%
1.4%
n/a
Interest expense
77.2
67.5
69.7
+14.4%
Pre-tax income
386
53.8
547
+616.9%
Income tax
173
16.4
219
+959.7%
Effective tax rate
44.9%
30.4%
40.1%
Net income
173
154
281
+12.9%
Net margin
0.9%
1.0%
1.5%
Diluted EPS
$1.23
$1.09
$2.00
+12.8%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
162
602
706
-73.1%
Capital expenditure
211
283
236
-25.5%
Free cash flow
-48.8
319
470
Free cash flow margin
-0.3%
2.2%
2.5%
Cash from investing
1.4
-484
-741
Cash from financing
-140
-216
-10.3
Depreciation and amortisation
217
225
226
-3.8%
Share-based compensation
43.0
40.7
40.1
+5.8%
Buybacks
50.0
0.0
9.7
Dividends paid
119
118
118
+0.6%
Dividend per share
$0.84
$0.84
$0.84
0.0%
Diluted shares, weighted
141m
141m
141m
+0.3%
Shares outstanding at period end
140m
140m
139m
-0.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,834
3,342
3,125
-15.2%
Non-controlling interest
146
150
118
-2.6%
Debt
1,688
1,619
1,600
+4.3%
Other liabilities
4,214
4,216
4,373
-0.1%
Total liabilities and equity
8,883
9,328
9,216
-4.8%
Fixed assets
746
1,094
1,017
-31.8%
Goodwill
466
565
532
-17.4%
Intangible assets
158
188
190
-16.1%
Investments
215
275
255
-21.8%
Cash and equivalents
1,765
1,804
1,850
-2.2%
Other assets
5,533
5,402
5,372
+2.4%
Total assets
8,883
9,328
9,216
-4.8%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.