Fluor Corporation - FLR STOCK NEWS

Fluor Corporation (NYSE: FLR) will hold a conference call on August 6, 2021, at 8:30 A.M. Eastern time to discuss its second-quarter results for the period ending June 30, 2021. CEO David Constable and CFO Joe Brennan will lead the call, with financial results released beforehand. The conference can be accessed via a live webcast and telephone. A replay will be available for 30 days. Fluor reported a revenue of $14.2 billion in 2020 and is recognized among the Fortune 500 companies.

Fluor Corporation (NYSE: FLR) and Balfour Beatty's joint venture has commenced work on the Oak Hill Parkway infrastructure project in Austin, Texas. Awarded by TxDOT in April 2020, this project aims to enhance U.S. 290 and State Highway 71, facilitating improved mobility and safety. Spanning 7 miles, it will include up to three main lanes in both directions, overpass construction, and pedestrian-friendly infrastructure. The project is expected to engage around 600 workers and be completed by late 2025.

Fluor Corporation (NYSE: FLR) and the Fluor Foundation have launched a $1 million funding program over three years to support STEM initiatives at North Carolina A&T, Prairie View A&M, and Tuskegee University. The program focuses on merit-based scholarships for engineering students, innovative learning strategies, and faculty development. Fluor will contribute $860,000, with an additional $140,000 available through matching donations. This initiative aims to enhance educational opportunities and strengthen Fluor's talent development pipeline for the engineering industry.

Fluor Corporation (NYSE: FLR) has commenced construction on the Chicago Transit Authority's modernization project for the Lawrence to Bryn Mawr tracks and station houses. This initiative is part of the $2.1 billion Red and Purple Modernization Program, the largest capital project in CTA's history. The project includes rebuilding 1.3 miles of track and replacing 11 bridges. New stations will be fully accessible and feature modern amenities. The work is expected to enhance service reliability and improve ride quality for millions of commuters.

Fluor Corporation (NYSE: FLR) announced a $20 million investment from IHI Corporation of Japan into NuScale Power LLC, a leader in small modular nuclear reactor (SMR) technology, where Fluor holds a majority stake. This investment may be followed by an additional $20 million. IHI will also collaborate as a global manufacturing partner, enhancing its role in design and heavy manufacturing for NuScale projects. This investment aligns with Fluor's strategy to attract strategic partnerships, reinforcing global support for NuScale's carbon-free energy initiatives.

Fluor Corporation’s Mining & Metals division successfully completed its construction delivery scope for BHP’s $3.6 billion South Flank iron ore project, achieving first ore on schedule and within budget. This project, the largest iron ore processing facility in Western Australia, included an 80-million-ton-per-year crushing and screening plant and advanced conveyor systems. Construction began in July 2018, demonstrating Fluor's commitment to efficiency and local hiring, even amidst COVID-19 challenges.

Fluor Corporation (NYSE: FLR) has priced its private placement of 525,000 shares of 6.50% Cumulative Perpetual Convertible Preferred Stock, increasing the offering from 450,000 shares. Initial purchasers have a 30-day option for an additional 75,000 shares. Proceeds will be used to repay debt and for corporate purposes. The offering is expected to close on May 18, 2021. Each preferred share is convertible into approximately 44.96 shares of common stock at a conversion price of $22.24. The stock offers quarterly dividends starting August 15, 2021.

Fluor Corporation (NYSE: FLR) plans to privately offer 450,000 shares of a new series of convertible preferred stock, with an option for purchasers to buy an additional 67,500 shares. The funds raised will be used to repay debt and for general corporate purposes. The preferred stock offers quarterly cumulative cash dividends and can be converted into common stock at the holder's discretion. This offering will be made to qualified institutional buyers under Rule 144A of the Securities Act, with the stock not registered for public sale.

Fluor Corporation (NYSE: FLR) announced that NuScale Power, in which it is the majority investor, is exploring financing options with Guggenheim Securities to expedite the commercialization of its small modular reactor (SMR) technology. Since 2013, Fluor has engaged with strategic investors, and recent milestones have attracted increased interest. Funds raised will enhance NuScale's SMR program, supported by a DOE cost-share award. Notably, NuScale's SMR design, approved by the U.S. Nuclear Regulatory Commission, generates 77 megawatts of zero-carbon electricity per module.