Fluor Issues Statement Regarding Recent Decision on Pantex Plant and Y-12 National Security Complex Contract Award

Rhea-AI Summary

Fluor Corporation (NYSE: FLR) reaffirms its financial guidance for 2022 and 2024 despite a shift in the National Nuclear Security Administration’s strategy regarding the Pantex Plant and Y-12 National Security Complex. The company expresses disappointment over the cancellation of a previous award but highlights potential growth opportunities in various market segments in 2022. Fluor maintains its adjusted earnings-per-share guidance as previously communicated during its May 6, 2022 earnings call.

Positive

• Reaffirmed 2022 and 2024 financial guidance.
• Significant growth opportunities identified across market segments in 2022.
• Continued commitment to support the NNSA's nuclear security efforts.

Negative

• Disappointment over the cancellation of a previous award.

Fluor reaffirms its 2022 and 2024 financial guidance and foresees significant growth opportunities in 2022

IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that the National Nuclear Security Administration’s (NNSA) shift in strategy related to the combined management and operation of the Pantex Plant and Y-12 National Security Complex has not changed Fluor’s support for the NNSA. The company remains committed to the nation’s nuclear security through its existing and future contract work.

Fluor is disappointed in the decision to cancel the previous award, but the company continues to see significant opportunities for new awards and growth across its market segments in 2022.

Fluor reaffirms the company’s 2022 adjusted earnings-per-share guidance provided in the news release and investor presentation accompanying its earnings call held on May 6, 2022, and its 2024 adjusted earnings-per-share guidance provided in the transcript.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is building a better future by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 41,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $12.4 billion in 2021 and is ranked 196 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than 100 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.

Forward-Looking Statements: This release contains forward-looking statements (including without limitation, statements to the effect that Fluor Corporation (the “Company”) or its management “will,” “believes,” “expects,” “anticipates,” “plans,” “looks forward to”, “continues to,” “reaffirms” or other similar expressions). Such forward-looking statements include statements relating to future growth, new awards, earnings and the outlook for the Company’s business and financial results or statements. Due to known and unknown risks, the Company’s results may differ materially from its expectations and projections. Additional information concerning factors that could affect the Company’s results can be found in the Company’s public periodic filings with the Securities and Exchange Commission, including the discussion under the heading “Item 1A. Risk Factors” in the Company’s Form 10-K filed on February 22, 2022. The Company’s forward-looking statements speak only as of the date that such statements are made, and the Company disclaims any intent or obligation other than as required by law to update its forward-looking statements in light of new information or future events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220517006309/en/

Brian Mershon

Media Relations

469.398.7621

Jason Landkamer

Investor Relations

469.398.7222

Source: Fluor Corporation

FAQ

What is Fluor's stock symbol?

Fluor Corporation's stock symbol is FLR.

What was Fluor's revenue in 2021?

Fluor Corporation reported revenue of $12.4 billion in 2021.

What financial guidance did Fluor reaffirm?

Fluor reaffirmed its financial guidance for 2022 and 2024.

When did Fluor hold its earnings call?

Fluor held its earnings call on May 6, 2022.

How does Fluor view its future growth opportunities?

Fluor sees significant growth opportunities across its market segments in 2022.