The 2020 Mid-Year Economic Update_long

Fluor Sales Down 15.5% in 1Q

Profit decreased 3.4 percent in the first quarter.

Engineering and construction firm Fluor Corp. (NYSE: FLR), Irving, TX, reported sales for the first quarter of $4.6 billion, down 15.5 percent year-over-year, primarily due to continued reductions in the mining and metals business line. Profit decreased 3.4 percent to $144.1 million.

Oil & gas segment sales in the first quarter decreased 11.2 percent year-over-year to $2.5 billion and industrial & infrastructure sales for the quarter were $1.1 billion, down 33.1 percent.

Government group sales for the quarter increased 8.9 percent to $646 million, while global services sales declined 8.7 percent to $129.7 million and power group sales declined 11.9 percent to $221.1 million.

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