The 2020 Mid-Year Economic Update_long

Fluor Sales Down 1% in 2013

Fluor Corporation sales down 10.4% in 4Q.

Fluor Corporation (NYSE: FLR), Irving, TX, reported full year sales for 2013 of $27.4 billion, a decrease of 1 percent from 2012. Profit increased 46.3 percent to $667.7 million from the previous year.

Fourth quarter sales were $6.3 billion, a decrease of 10.4 percent from the same period the previous year. Profit increased to $166.8 million from a loss of $4.4 million in the fourth quarter of 2012.

The oil and gas segment reported a 32 percent increase in profit, with a 21 percent growth in revenues for the year.

The industrial and infrastructure group more than doubled profits to $476 million, while revenues declined 16 percent.

The government group's profit increased 7.3 percent, while revenues declined 18.2 percent

Global services segment profit dropped 4 percent and revenues dropped 10 percent.

Power group segment profit was $12 million for 2013, compared to a loss of $17 million in 2012. Sales for the segment increased 65 percent.

Full year new awards were $25.1 billion, comprised of $12.9 billion in the oil and gas segment, $6.6 billion in industrial and infrastructure, $4.1 billion in government and $1.5 billion in power.

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