Fluor Corporation - FLR STOCK NEWS

Fluor Corporation (NYSE: FLR) has been awarded a contract by the U.S. Department of Energy’s National Nuclear Security Administration (NNSA) for the management and operation of the Y-12 National Security Complex and Pantex Plant. The contract is valued at approximately $2.8 billion annually and includes a four-month transition period followed by a five-year base period with options extending the contract up to 10 years. The Fluor-led joint venture, Nuclear Production One, LLC, aims to enhance national security and production capabilities.

Fluor Corporation (NYSE: FLR) has achieved a significant milestone in the Chicago Transit Authority’s (CTA) Red and Purple Modernization Phase One Project by completing a rail bypass structure. This bypass will alleviate longstanding congestion affecting millions of riders on the CTA’s lines. The project, valued at $1.3 billion, is expected to enhance transit capacity and speed, ultimately improving the commuter experience. The overall project is set for completion in 2025, marking it as CTA's largest capital project to date.

Fluor Corporation (NYSE: FLR) reported Q3 2021 earnings with a net income of $47 million, translating to $0.26 per share. Adjusted EPS was $0.23, raising the full-year guidance to $0.85-$1.00. Total revenue reached $3.1 billion, with new awards of $3 billion, bringing the backlog to $21 billion. The company reduced its debt by 30%, setting a debt-to-cap ratio at 37%. While the Energy Solutions segment faced a profit decline, the Mission Solutions segment reported improved new awards. Cash and marketable securities fell to $2.2 billion from $2.7 billion. Fluor plans a conference call for further insights.

Fluor Corporation (NYSE: FLR) and its joint venture with Petrosea, the Fluor Petrosea Joint Organization (FPJO), have been awarded a contract by PT Freeport Indonesia to construct a new grinding mill at the Grasberg mining district in Papua, Indonesia. This project aims to enhance underground production capacity, adding approximately 240,000 tonnes per day. Construction is set to begin soon and is expected to complete in 2023. Fluor's extensive experience in the region highlights its reputation as a trusted solutions provider in the mining industry.

Fluor Corporation (NYSE: FLR) has announced a contract extension with the Department of the Navy valued at $1.16 billion. This extension covers Naval Nuclear Propulsion work through fiscal year 2022 and is part of a larger joint program, Naval Reactors, overseen by the Department of Energy. The original Navy contract, awarded in July 2018, has a potential total value of $30 billion over ten years if all options are exercised.

Fluor Corporation (NYSE: FLR) has signed a memorandum of understanding with Bulgarian Energy Holding EAD to explore new nuclear units in Bulgaria. This collaboration emphasizes Fluor's commitment to providing decarbonization solutions aligned with global clean energy initiatives. The partnership will assess program management services and evaluate the existing coal-fired fleet for potential repurposing. With over 70 years of experience in the nuclear sector, including involvement in over 25 nuclear plants, Fluor aims to enhance energy security and contribute to Bulgaria’s economic growth.

Fluor Corporation (NYSE: FLR) announced that the U.S. Department of Energy has selected its joint venture, Savannah River Mission Completion, LLC, to execute a $21 billion contract for environmental management at the Savannah River Site over ten years. The contract encompasses liquid waste stabilization, nuclear materials management, and other tasks. This new contract reinforces Fluor's ongoing commitment to the Savannah River community, leveraging extensive experience to ensure safe and cost-effective project execution.

Fluor Corporation (NYSE: FLR) will hold a conference call on November 5 to discuss its third quarter results for the period ending September 30, 2021. The call will start at 8:30 A.M. Eastern time and will feature CEO David Constable and CFO Joe Brennan. Financial results will be released prior to market open on the same day. Investors can access the live webcast or replay at investor.fluor.com. Fluor reported $14.2 billion in revenue in 2020 and continues to provide engineering and construction services worldwide.