Fluor saw a notable surge in new project awards in the second quarter of 2026, capturing $6.1 billion in contracts. Much of this came from a significant nuclear fuel enrichment project for the Centrus facility.
This growth followed a previous-year total of $1.8 billion in new awards, showing an almost tripling of secured contracts. The company reported 89% of its new awards were structured as reimbursable contracts, which shift risk away from Fluor and toward its clients.
Backlog and Risk Profile
Fluor ended the quarter with a total backlog of $26.9 billion, 85% of which was in the form of reimbursable contracts. Compared to the 80% reimbursable mix a year earlier, the shift altered the company’s risk exposure.
Legacy projects, which once posed a risk, now accounted for a minimal $119 million in backlog. This shift was largely due to Fluor's active strategy to exit older contracts. These awards included a large reimbursable contract for the Centrus facility.
Mission Solutions revenue reached $716 million for the quarter, generating a segment profit of $44 million, up from $35 million a year earlier. Urban Solutions contributed $3.2 billion in new awards, including a Canadian fertilizer project and a European infrastructure initiative.
Company-wide revenue for Q2 2026 hit $4.3 billion, up 9% from the previous year. Fluor also returned $300 million to shareholders via stock repurchases, and aims to return $1.4 billion in 2026.