Fluor Corporation - FLR STOCK NEWS

Fluor (NYSE: FLR) has announced that Executive Vice President and CFO Joe Brennan will retire effective July 1, 2025, after more than 30 years of service. John Regan, currently Executive Vice President and Chief Accounting Officer, will succeed him effective March 1, 2025. Regan brings over three decades of financial expertise and previously served as CFO at Alta Mesa and Vine Oil & Gas LP. He is a Texas-licensed CPA who started his career at PricewaterhouseCoopers. The company reported revenue of $15.5 billion in 2023 and ranks 265 on the Fortune 500.

Fluor (NYSE: FLR) announced that its joint venture has received a notice to proceed for the design phase of Units 3 & 4 at the Cernavoda Nuclear Power Plant in Romania. The contract was signed at the UN COP29 conference in Baku, Azerbaijan. The Fluor-led JV includes AtkinsRéalis, Sargent & Lundy, and Ansaldo Nucleare. The Cernavoda plant currently produces 1.4 gigawatts with two units, meeting 20% of Romania's electricity demand. The addition of Units 3 & 4 will nearly double the power output. The JV will provide engineering plans, cost estimates, schedules, and safety assessment reports necessary for a final investment decision.

Fluor (NYSE: FLR) has announced its participation in two major investor conferences in Q4 2024. CFO Joe Brennan and Executive Director of Investor Relations Jason Landkamer will attend the Baird Global Industrial Conference on November 14 (fireside chat at 11:50 a.m. ET) and the UBS Global Industrials and Transportation Conference on December 5 (fireside chat at 10:30 a.m. ET).

Fluor, with revenue of $15.5 billion in 2023 and ranked 265 on Fortune 500, employs nearly 34,000 people providing professional and technical solutions for capital-efficient projects globally. Live webcasts of both conference presentations will be available at investor.fluor.com.

Fluor (NYSE: FLR) reported Q3 2024 financial results with revenue of $4.1 billion and net earnings of $54 million, or $0.31 per diluted share. The company posted adjusted diluted EPS of $0.51 and strong operating cash flow of $330 million. New awards totaled $2.7 billion, with ending consolidated backlog of $31.3 billion. The company's cash position stood at $2.9 billion. Notable developments include an expected $1.6 billion gain from NuScale deconsolidation in Q4 and an increase in the share repurchase program authorization to 30.5 million shares.

Fluor (NYSE: FLR) announced that the U.S. Department of Energy (DOE) has approved Hanford Tank Waste Operations & Closure, (H2C) to begin the Hanford Integrated Tank Disposition Contract. H2C is a joint venture led by a subsidiary of BWX Technologies, Inc., with Fluor and Amentum. The contract has an estimated ceiling of $45 billion over a 10-year period for environmental management operations at the Hanford Site in Washington state.

Fluor will recognize its share of earnings using the equity method of accounting starting in Q4 2024. The contract scope includes operation of Hanford tank farm facilities, eventual operation of the Waste Treatment and Immobilization Plant, and other core functions. A previous protest against the award was dismissed in the U.S. Court of Federal Claims.

Fluor (NYSE: FLR) has announced its upcoming third quarter earnings conference call, scheduled for Friday, November 8, 2024, at 8:30 a.m. Eastern. The call will be led by Chairman and CEO David Constable and CFO Joe Brennan. Financial results will be released before the market opens on the same day.

Investors and the public can access the live webcast and accompanying slides at investor.fluor.com. The call will also be available via telephone at +1 888-800-3960 (U.S./Canada) or +1 646-307-1852, using conference ID 4438700. A replay of the webcast will be available for 30 days.

Fluor , headquartered in Irving, Texas, is a global engineering and construction company with nearly 34,000 employees. The company reported revenue of $15.5 billion in 2023 and is ranked 265 on the Fortune 500 list.

Fluor (NYSE: FLR) has announced significant leadership changes, effective immediately. Jim Breuer has been appointed to the newly created position of Chief Operating Officer (COO), tasked with driving a more holistic view of Fluor's markets, strengths, and needs across its three business segments. Kevin Hammonds has been named Chief Legal Officer (CLO), succeeding John Reynolds, who will retire after nearly 40 years of service but remain as Corporate Secretary until May 2025.

These appointments come as Fluor wraps up the first chapter of its 'building a better future' strategy. CEO David E. Constable expressed satisfaction with the company's progress and outlined future plans, including maximizing growth opportunities, focusing on execution, generating consistent operating cash flow, and developing talent. Fluor, with nearly 34,000 employees and $15.5 billion in 2023 revenue, continues to provide engineering, procurement, and construction services globally.

Fluor (NYSE: FLR) reported strong financial results for Q2 2024. Revenue increased 7% to $4.2 billion, while net earnings attributable to Fluor rose to $169 million ($0.97 per diluted share) from $61 million in the prior year. Adjusted diluted EPS was $0.85. The company demonstrated robust operating cash flow of $282 million, prompting an increase in 2024 cash guidance to $500-$600 million.

Fluor's consolidated segment profit reached $194 million, slightly up from $191 million in Q2 2023. New awards for the quarter totaled $3.1 billion, with ending consolidated backlog growing to $32.3 billion. The company's cash position improved to $2.6 billion. Fluor affirmed its 2024 adjusted EPS guidance and tightened its adjusted EBITDA outlook, reflecting confidence in its strategy and market positioning.

Fluor (NYSE: FLR) has secured a contract with RoPower Nuclear for Phase 2 front-end engineering and design (FEED) work at a small modular reactor (SMR) facility in Doicesti, Romania. The project will utilize NuScale Power's SMR technology to generate carbon-free power, marking a significant milestone in Romania's clean energy initiatives. The contract signing ceremony was attended by high-level officials from Romania and the U.S., emphasizing bilateral cooperation.

Fluor's Phase 2 FEED work will customize a six-reactor SMR power plant capable of producing up to 462 megawatts, adhering to European codes and standards. This facility will be the first of its kind in Europe, showcasing Fluor's expertise in next-generation nuclear power deployment.