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FLUOR CORP. ANNOUNCES FIRST QUARTER RESULTS

 IRVINE, Calif., March 4 /PRNewswire/ -- Fluor Corp. today announced net earnings of $36 million, or 43 cents per share, for the first quarter ended Jan. 31, 1993. This compares with a net loss of $4 million, or 5 cents per share, for the same quarter a year ago which included the cumulative effect of adopting Financial Accounting Standard 106 relating to postretirement benefits.
 First quarter 1993 earnings from continuing operations of $36 million, or 43 cents per share, advanced 11 percent compared with continuing earnings of $32 million, or 39 cents per share, a year ago. Revenues were $1.8 billion, up 16 percent from $1.6 billion in the first quarter of 1992.
 Les McCraw, chairman and chief executive officer of Fluor, said: "The earnings gains were due primarily to continued growth in Fluor Daniel's operating profits. Despite modestly positive economic news, capital spending trends in most economically sensitive markets in the U.S. remain lackluster. Activity in certain non-U.S. markets, however, is strengthening. Our broad geographic and industry diversity remains key to delivering earnings growth."
 New engineering and construction awards were $2.1 billion, up 8 percent, compared to $1.9 billion in the first quarter last year. Backlog rose 29 percent to $14.9 billion from $11.5 billion a year ago.
 Quarterly operating profit for Fluor Daniel, the company's core engineering and construction business, posted a strong gain over the same period a year ago, largely because of increased volume of work performed. A. T. Massey, Fluor's low-sulfur coal investment, also delivered slightly improved earnings compared with a strong performance in the first quarter a year ago.
 Fluor Corp. is an international engineering, construction, maintenance and technical services company with an investment in coal.
 FLUOR CORP.
 Comparative Financial Results
 (In millions, except per share amounts)
 Percent
 First Quarter 1993 1992(A) change
 Revenues from
 continuing operations $1,806.9 $1,560.8 16
 Earnings (loss)
 Continuing operations 35.7 32.2 11
 Discontinued operations --- (3.4) ---
 Accounting change (SFAS 106) --- (32.9) ---
 Net earnings (loss) 35.7 (4.0) ---
 Earnings (loss) per common share
 Continuing operations .43 .39 10
 Discontinued operations --- (.04) ---
 Accounting change (SFAS 106) --- (.40) ---
 Net earnings (loss) .43 (.05) ---
 Weighted average shares 82.2 81.1
 New awards 2,056.6 1,897.9 8
 Backlog -- Jan. 31 14,935.5 11,546.7 29
 Work performed $1,632.3 $1,383.9 18
 (A) Amounts restated to reflect the adoption of SFAS No. 106 effective Nov. 1, 1991, and the discontinuation of The Doe Run Co. in 1992.
 -0- 3/4/93
 /CONTACT: Deborah Land (media relations), 714-975-3971, or Lila Churney (investor relations), 714-975-3909, both of Fluor/
 (FLR)


CO: Fluor Corp. ST: California IN: CST SU: ERN

JL-LS -- LA010 -- 2768 03/04/93 08:03 EST
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Date:Mar 4, 1993
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