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Fluor Corporation (FLR - Free Report) is scheduled to report fourth-quarter 2022 results on Feb 21, before the opening bell.

In the last reported quarter, the company’s earnings and revenues missed the Zacks Consensus Estimate by 85.4% and 7.9%, respectively. Revenues increased 3.1% but earnings declined 69.6% from the prior year.

Fluor’s earnings topped the consensus mark in only one of the last four quarters and missed on other three occasions, with the average negative surprise being 38.2%.

Fluor Corporation Price and EPS Surprise

Corporation price-eps-surprise | Fluor Corporation Quote

Trend in Estimate Revision

The Zacks Consensus Estimate for the fourth-quarter earnings has increased to 54 cents per share from 51 cents over the past 60 days. The said figure indicates a 72.2% rise from the year-ago earnings of 31 cents per share. The consensus mark for revenues is pegged at $4.14 billion, suggesting a 31.2% year-over-year increase.

Factors to Note

The company is likely to have registered growth across portfolios, given its focus on enhancing markets outside the traditional oil and gas sector, including energy transition, advanced technology and life sciences, high-demand metals, infrastructure and mission solutions.

Fluor’s market diversity remains a key strength, which is expected to have contributed to the quarterly performance. Contributions from its legacy projects in infrastructure, operations and maintenance baseload business, Advanced Technologies & Life Sciences business (comprising projects across the battery and data center markets) as well as focus on cutting-edge robotics and automation technology will likely be a major tailwind.

The company has also been gaining from a go-forward strategy, narrowing its focus of infrastructure business to the State Department of Transportation, moving away from large signature projects and focusing on regional road and bridge work.

Further, in a cut-throat competitive environment, Fluor continuously emphasizes on cost controls, which are likely to have been reflected in the company’s quarterly margins.

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