Despite record oil and gas activity, Fluor Corporation’s earnings were stunted by downturn elsewhere in the business.
The firm’s revenue for this year’s first quarter topped out at $5.4billion, down from $7.2bn the year before.
Segment profit results included a 32% rise in oil and gas.
A procurement and construction of an LNG project in Canada, a refinery expansion in Canada, a pipeline project in Mexico and a chemicals project in Malaysia all contributed to the spike.
“Our oil and gas group continues to perform extremely well, posting nearly $9bn in new awards and growing profitability by 32%,” said chairman and chief executive David Seaton.
“However, our overall expectations for the year are tempered by continued weakness in a number of our other end markets.”
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