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FLR
LONGINSIDER SELLFLUOR CORP
Funds
5
Score
7.50
vs SPY
-18.2%
Stock return (since Q-end)
-1.9%
SPY return (since Q-end)
+16.3%
Current price
$45.76
News Summary
NegativeFluor reported a significant Q1 2026 earnings miss (adjusted EPS of $0.14 vs. $0.62 consensus) with consolidated segment profit collapsing 94% YoY to $8M, driven by project cost overruns and litigation charges, while guidance was trimmed lower citing Middle East uncertainty. However, the company generated substantial cash ($2.4B from NuScale exit, $110M operating cash flow in Q1) and secured landmark contract wins including the first new U.S. refinery in 50+ years, with a robust $25.7B backlog and $60B+ prospect pipeline.
Red flags
- •Adjusted EPS missed consensus by $0.48 (77% miss); Q1 adjusted EPS of $0.14 down 81% YoY from $0.73
- •Consolidated segment profit collapsed 94% YoY to only $8M; adjusted EBITDA down 61% YoY to $61M
- •Mission Solutions posted $71M loss including $96M litigation impact; Urban Solutions hit by $37M cost overrun on mining project
- •2026 adjusted EBITDA guidance narrowed downward to $525–$560M (from $525–$585M) citing Middle East uncertainty
- •Revenue declined 8% YoY to $3.66B and missed estimates by $270M
- •New awards reported at $2.7B but analyst noted this represents ~50% drop in award pace
- •Executive Chairman David Constable departed; leadership transition occurring
- •Insider selling pressure: 12 sales vs. zero purchases in past 6 months; CFO sold $1.5M in stock
- •Stock declined ~13% on earnings miss; analyst downgrade to Hold on weak execution and macro headwinds
Funds Buying (5)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | QoQ | Status |
|---|---|---|---|---|---|---|
| Greenlight Capital | David Einhorn | 4.7M | +4.7M | $221.5B | — | NEW |
| Starboard Value | Jeff Smith | 2.9M | +2.9M | $134.6B | — | NEW |
| Maverick Capital | Lee Ainslie | 1.4M | +1.4M | $66.0B | — | NEW |
| Point72 | Steve Cohen | 1.4M | +1.4M | $63.7B | — | NEW |
| Soros Fund Management | Soros Family Office | 51K | +51K | $2.4B | — | NEW |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter.
Insider Activity
| Name | Title | Type | Shares | Price | Value | Filed |
|---|---|---|---|---|---|---|
| FLUOR CORP | — | SELL | 13.5M | $11.81 | $159.42M | 2026-04-21 |
| FLUOR CORP | — | SELL | 12.9M | $11.63 | $150.44M | 2026-04-15 |
| FLUOR CORP | — | SELL | 13.5M | $12.07 | $162.90M | 2026-04-09 |