Fluor surges on Q3 earnings topper, NuScale monetization plan

[Thermal power station]
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Fluor (FLR [https://seekingalpha.com/symbol/FLR]) +7.5% pre-market Friday after reporting better than expected Q3 adjusted earnings [https://seekingalpha.com/news/4518373-fluor-non-gaap-eps-of-068-beats-by-023-revenue-of-337b-misses-by-830m] and raising full-year guidance, while also saying it will monetize its stake [https://seekingalpha.com/pr/20298111-fluor-and-nuscale-announce-agreement-regarding-stake-monetization] in small modular nuclear technology company NuScale Power (SMR [https://seekingalpha.com/symbol/SMR]).

Flour (FLR [https://seekingalpha.com/symbol/FLR]) swung to a loss of $697 million, or $4.30/share, from a profit of $54 million, or $0.31/share, in the year-earlier quarter; Q3 adjusted earnings came in at $0.68/share, above expectations, but revenues fell nearly 18% Y/Y to $3.37 billion, with results hit by a $653 million ruling on its Santos project in Australia.

The company also raised its full-year adjusted earnings guidance to $2.10-$2.25/share from a prior outlook of $1.95-$2.15/share and above the $2.05 analyst consensus estimate.

Fluor (FLR [https://seekingalpha.com/symbol/FLR]) also disclosed a plan to fully monetize its stake in NuScale (SMR [https://seekingalpha.com/symbol/SMR]) by the end of Q2 2026, converting its remaining Class B units in NuScale into Class A shares and then begin a structured monetization of shares, guided by mutually agreed volume restrictions to maintain the value of NuScale's equity.

Fluor (FLR [https://seekingalpha.com/symbol/FLR]) said it agreed to vote in favor of NuScale's (SMR [https://seekingalpha.com/symbol/SMR]) anticipated increase to its authorized share count.

NuScale (SMR [https://seekingalpha.com/symbol/SMR]), which also reported a wider than expected Q3 loss, -5.3% pre-market Friday.

MORE ON FLUOR

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* Ahead Of Tariff-Induced Pharmaceutical Construction Boom, Fluor Looks Like An Attractive Buy [https://seekingalpha.com/article/4826443-ahead-of-tariff-induced-pharmaceutical-construction-boom-fluor-looks-like-an-attractive-buy]
* Fluor: I'm Waiting For A Bigger Drop [https://seekingalpha.com/article/4821762-fluor-im-waiting-for-a-bigger-drop]