Fluor Corporation - FLR STOCK NEWS

Fluor Corporation (NYSE: FLR) has announced the completion of the Union Square Branch of the Green Line Extension light rail project, now open to the public. This new 0.7-mile line connects Cambridge and Somerville, enhancing transportation access for the greater Boston area. With projected daily ridership reaching 45,000 by 2030, the project aims to alleviate traffic and reduce pollution. Construction began in 2018, and the second line of the 4.7-mile project is expected to open later this year.

Fluor Corporation (NYSE: FLR) and The Lane Construction Corporation completed the Port Access Road project for the South Carolina State Port Authority ahead of schedule. This project, which began in 2016, enhances access to the Hugh K. Leatherman Jr. terminal and local infrastructure, serving Charleston's rapidly growing container port. The completion includes key roadway improvements, with all lanes now open to traffic. Fluor emphasizes the economic significance of reliable infrastructure, especially given current global supply chain challenges.

Fluor Corporation (NYSE: FLR) reported a 2021 revenue of $12.4 billion but incurred a net loss of $144 million, or $1.46 per diluted share. The company achieved new awards totaling $8.8 billion and ended the year with a backlog of $18.9 billion. Segment profits rose to $374 million from $333 million in 2020, with operational improvements noted in Energy Solutions and Mission Solutions. However, Urban Solutions saw a significant decline in both revenue and profit due to project closeouts. For 2022, Fluor has set adjusted EPS guidance of $1.15 to $1.40.

Fluor Corporation (NYSE: FLR) has announced an increase in its credit facility from $1.65 billion to $1.8 billion, extending the maturity to February 2025. The enhanced facility includes an ESG-linked pricing option aimed at lowering borrowing costs. CFO Joe Brennan emphasized this move aligns with the company's goals set in January 2021 to stabilize finances and reflects banks' confidence in Fluor's future. The facility was arranged with major lenders like BNP Paribas and BofA Securities.

Fluor Corporation (NYSE: FLR) has appointed David Constable as the new chairman, succeeding Alan Boeckmann, who will not seek re-election at the annual meeting on May 5, 2022. Boeckmann, a longstanding leader in the company for nearly 40 years, expressed confidence in Fluor's current direction under Constable's leadership. Constable, who became CEO in January 2021, aims to continue enhancing Fluor's balance sheet and restoring investor confidence.

Fluor Corporation (NYSE: FLR) and Walsh Construction have commenced construction on the Chicago Transit Authority’s North Main Line Red and Purple Line track structure as part of the Red and Purple Modernization (RPM) Phase One Project. The project includes straightening historical track curves, improving safety, and enhancing service speed for commuters. Completion is expected by 2025, which will modernize 100-year-old rail structures, increase capacity, and improve reliability with new signal systems across 23 track miles.

Fluor Corporation (NYSE: FLR) announced that Tricia Thibodeaux has been appointed as vice chair of the Construction Industry Institute (CII) for 2022. Thibodeaux has a decade-long involvement with CII and has previously led key research initiatives, including efforts to improve supplier quality. Her leadership is expected to benefit CII's member organizations and the broader construction industry. Fluor has supported CII for 38 years, contributing to research and best practices in capital projects.

Fluor Corporation (NYSE: FLR) will hold a conference call on February 22 at 8:30 A.M. Eastern time to discuss its fourth quarter and full-year results for 2021, with results released prior to market open. CEO David Constable and CFO Joe Brennan will lead the call. A live webcast and a replay will be available on investor.fluor.com for 30 days. Fluor reported a revenue of $14.2 billion in 2020 and employs around 44,000 people, providing engineering, procurement, and construction services globally.

Fluor Corporation (NYSE: FLR) has been awarded a position on the U.S. General Services Administration's Multiple Award Schedule (MAS) contract. This indefinite-delivery/indefinite-quantity contract spans five years, with three additional five-year options available. Fluor can now compete for task orders in the Facilities and Professional Services categories, which include various special item numbers matching its spending profiles. This award supports Fluor's strategy to enhance its technical services and provides federal agencies access to its innovative solutions.