Fluor Corporation (NYSE:FLR) shares surged Friday after the engineering and construction company reported second-quarter results that topped Wall Street estimates, driven by strong project execution and a sharp increase in new awards.
Adjusted earnings of 91 cents per share beat the analyst consensus estimate of 70 cents.
Revenue rose 9% year over year to $4.33 billion, exceeding estimates of $3.92 billion.
CEO Jim Breuer said several awards arrived earlier than expected as major opportunities progressed from the pipeline to full engineering, procurement and construction contracts.
Adjusted EBITDA increased to $149 million from $96 million a year earlier.
