Fluor posts Q4 net loss of $1.6 billion on $2 billion NuScale investment valuation cut
Fluor reported fourth-quarter and full-year 2025 results. The fourth-quarter net loss attributable to Fluor was $1.6 billion, or $(9.87) per diluted share, compared with net earnings of $1.9 billion a year earlier, reflecting a net $2 billion reduction in the valuation of its NuScale investment. For the full year, revenue was $15.5 billion, down from $16.3 billion, and the company reported a net loss of $51 million, or $(0.31) per share, including a $643 million adverse Santos ruling.
Key points
- Q4 2025 net loss attributable to Fluor of $1.6 billion, or $(9.87) per diluted share, versus net earnings of $1.9 billion, or $10.57 per share, in Q4 2024.
- Full-year 2025 adjusted EPS of $2.19, down from $2.32 in 2024; operating cash flow was $(387) million versus $828 million.
- Fluor set 2026 adjusted EBITDA guidance of $525 million to $585 million, compared with $504 million in 2025.
- Received $1.35 billion in Q1 2026 from NuScale share sales; plans $1.4 billion in share repurchases for 2026.
The filing
Written by AI on Nov 8, 2026, 12:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 17, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.