Fluor Corp

FLR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$78.00	Xjx	Bxzqh

Fluor Reaffirms Full-Year 2022 Guidance After Reporting First-Quarter Results; Maintaining FVE

Krzysztof Smalec

May 6, 2022

Nothing in no-moat Fluor’s first-quarter earnings results materially alters our long-term outlook for the engineering and construction firm. Therefore, we are maintaining our $25.50 fair value estimate. We see the name as fairly valued at current levels, with shares trading in 3-star territory.

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