3 February 2005 - Fluor Corporation increased revenues by seven per cent last year as it announced record new awards and strong backlog growth in its preliminary 2004 results.
Net earnings for 2004 were $186.3m compared with $157.5m the previous year. Revenues increased from $8.8bn in 2003, to $9.4bn, a rise of seven per cent. Fourth quarter revenues were up by 16 per cent year on year to $2.7bn from $2.4bn in 2003, even though net earnings in the same quarter fell to $47.5m from the previous years total of $51.4m.
Chairman and chief executive officer, Alan Boeckmann, said: "We delivered earnings performance at the high end of our guidance. This was accomplished by growing our oil and gas, government, industrial and infrastructure and global services segments, offsetting the anticipated decline in Fluor's power business."
Boeckmann continued and stated that Fluor was particularly encouraged by the strong growth in backlog. Recording $14.8bn in backlog, the company declared it is positioned to continue to grow revenues and earnings over the next several years. Fluor's share dividend guidance for 2005 remained in the range of $2.30 to $2.60 per share.