Fluor (FLR) FY2020 results: revenue $15.8 billion, up 2.2% on the year
Fluor Corp. (FLR) reported revenue of $15.8 billion for fiscal 2020, the year ended 31 December 2020, up 2.2% on the year before. Net income was -$435 million, and diluted earnings per share $-3.10. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$15.8 billion
+2.2% on the year
FY2013FY2020
Operating margin
-1.5%
-5.4% a year earlier
FY2013FY2020
Net income
-$435 million
FY2013FY2020
Diluted EPS
-$3.10
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
15,788
15,454
18,851
+2.2%
Cost of revenue
15,378
15,661
18,282
-1.8%
Gross profit
410
-206
569
Gross margin
2.6%
-1.3%
3.0%
Operating income
-232
-828
510
Operating margin
-1.5%
-5.4%
2.7%
Interest expense
72.1
64.9
77.2
+11.1%
Pre-tax income
-278
-839
386
Income tax
23.0
482
173
-95.2%
Effective tax rate
n/a
n/a
44.9%
Net income
-435
-1,522
173
Net margin
-2.8%
-9.8%
0.9%
Diluted EPS
-$3.10
-$10.87
$1.23
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
186
219
162
-15.1%
Capital expenditure
113
181
211
-37.5%
Free cash flow
72.9
38.2
-48.8
+90.9%
Free cash flow margin
0.5%
0.2%
-0.3%
Cash from investing
-41.0
80.5
1.4
Cash from financing
48.0
-77.3
-140
Depreciation and amortisation
105
170
217
-38.4%
Share-based compensation
22.0
36.1
43.0
-39.0%
Buybacks
0.0
0.0
50.0
Dividends paid
28.7
118
119
-75.7%
Dividend per share
$0.10
$0.73
$0.84
-86.3%
Diluted shares, weighted
141m
140m
141m
+0.3%
Shares outstanding at period end
141m
140m
140m
+0.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,030
1,488
2,834
-30.8%
Non-controlling interest
233
96.3
146
+141.8%
Short-term borrowings
4.9
n/a
n/a
Debt
1,701
1,690
1,688
+0.6%
Other liabilities
4,341
4,692
4,214
-7.5%
Total liabilities and equity
7,310
7,967
8,883
-8.2%
Fixed assets
464
595
746
-22.0%
Goodwill
207
508
466
-59.2%
Intangible assets
77.6
107
158
-27.2%
Investments
551
608
215
-9.4%
Cash and equivalents
2,199
1,997
1,765
+10.1%
Other assets
3,812
4,152
5,533
-8.2%
Total assets
7,310
7,967
8,883
-8.2%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.