Fluor (FLR) FY2019 results: revenue $15.5 billion, down 18.0% on the year
Fluor Corp. (FLR) reported revenue of $15.5 billion for fiscal 2019, the year ended 31 December 2019, down 18.0% on the year before. Net income was -$1.5 billion, and diluted earnings per share $-10.87. The figures are the company's own, from the 10-K it filed with the SEC on 25 September 2020.
Revenue
$15.5 billion
-18.0% on the year
FY2012FY2019
Operating margin
-5.4%
2.7% a year earlier
FY2012FY2019
Net income
-$1.5 billion
FY2012FY2019
Diluted EPS
-$10.87
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
15,454
18,851
14,807
-18.0%
Cost of revenue
15,661
18,282
14,529
-14.3%
Gross profit
-206
569
278
Gross margin
-1.3%
3.0%
1.9%
Operating income
-828
510
213
Operating margin
-5.4%
2.7%
1.4%
Interest expense
64.9
77.2
67.5
-15.9%
Pre-tax income
-839
386
53.8
Income tax
482
173
16.4
+178.1%
Effective tax rate
n/a
44.9%
30.4%
Net income
-1,522
173
154
Net margin
-9.8%
0.9%
1.0%
Diluted EPS
-$10.87
$1.23
$1.09
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
219
162
602
+35.1%
Capital expenditure
181
211
283
-14.3%
Free cash flow
38.2
-48.8
319
Free cash flow margin
0.2%
-0.3%
2.2%
Cash from investing
80.5
1.4
-484
+5,718.7%
Cash from financing
-77.3
-140
-216
Depreciation and amortisation
170
217
225
-21.3%
Share-based compensation
36.1
43.0
40.7
-16.2%
Buybacks
0.0
50.0
0.0
Dividends paid
118
119
118
-0.6%
Dividend per share
$0.73
$0.84
$0.84
-13.1%
Diluted shares, weighted
140m
141m
141m
-0.9%
Shares outstanding at period end
140m
140m
140m
+0.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,488
2,834
3,342
-47.5%
Non-controlling interest
96.3
146
150
-34.1%
Debt
1,690
1,688
1,619
+0.1%
Other liabilities
4,692
4,214
4,216
+11.3%
Total liabilities and equity
7,967
8,883
9,328
-10.3%
Fixed assets
595
746
1,094
-20.3%
Goodwill
508
466
565
+9.0%
Intangible assets
107
158
188
-32.6%
Investments
608
215
275
+183.1%
Cash and equivalents
1,997
1,765
1,804
+13.2%
Other assets
4,152
5,533
5,402
-25.0%
Total assets
7,967
8,883
9,328
-10.3%
10-K for the year ended 31 December 2019, filed 25 September 2020: the filing.