Fluor Corporation - FLR STOCK NEWS

Fluor Corporation (NYSE: FLR) has received a contract extension from the U.S. Department of Energy for decontamination and decommissioning work at the Portsmouth Gaseous Diffusion Plant in Piketon, Ohio. The contract, valued at up to $690 million, adds 12 months with two 6-month options. The project encompasses environmental remediation and facility demolition, ensuring a continuity of service crucial for the site. Fluor has managed this site for over a decade, and this extension supports ongoing progress in waste management and community outreach efforts.

Fluor Corporation (NYSE: FLR) announced that JGC Holdings Corporation invested $40 million in NuScale Power LLC, where Fluor is the majority investor. This partnership aims to meet growing demand for carbon-free energy solutions. JGC will serve as a global strategic engineering, procurement, and construction partner for new small modular reactor (SMR) projects. Fluor and NuScale are working with Utah Associated Municipal Power Systems to commercialize the world’s first carbon-free SMR project.

Fluor Corporation (NYSE: FLR) announced a 2-year contract extension for Stork, a Fluor company, by Chrysaor Holdings Limited. This agreement will provide offshore integrated specialist asset integrity services for the Armada, Everest, and Lomond platforms in the UK North Sea. Stork has been delivering asset integrity solutions to these platforms since 2014. The contract aims to enhance the life cycle of these offshore assets and support safe and efficient operations.

Fluor Corporation (NYSE: FLR) announced the opening of the new U.S. Highway 183 South in Austin, completed by its joint venture, Colorado River Constructors, with Balfour Beatty Infrastructure. The project, awarded in 2015, involved a $581 million contract to design and reconstruct 8 miles of highway. Enhancements include six new tolled lanes, five grade-separated interchanges, 38 bridges, and intelligent traffic management systems, catering to over 60,000 vehicles daily. Fluor's ongoing projects in Texas further bolster its commitment to regional infrastructure development.

Fluor Corporation (NYSE: FLR) reported a net loss of $294 million for 2020, significantly improved from a loss of $1.5 billion in 2019. Consolidated segment profit was $317 million, a turnaround from a loss of $186 million in the previous year. The company’s backlog reached $25.6 billion with new awards amounting to $9.0 billion. A new $1.65 billion credit facility was established, enhancing liquidity. For 2021, Fluor anticipates adjusted EPS between $0.50 and $0.80, driven by post-pandemic capital spending recovery.

Fluor Corporation (NYSE: FLR) has announced the completion of phase one of the Port Access Road in Charleston, South Carolina, in collaboration with The Lane Construction Corporation. This new roadway enhances direct access between the Hugh Leatherman Port Terminal and Interstate 26, facilitating efficient goods transportation. The elevated viaduct structure includes a fully directional interchange and local roadway enhancements. The second project phase is expected to conclude by the year's end. Construction began in 2016, highlighting Fluor's commitment to infrastructure development.

Fluor Corporation (NYSE: FLR) announced its new strategy at the 2021 Strategy Day event, aiming to lead professional and technical solutions while enhancing shareholder value. CEO David Constable emphasized a focus on sustainable outcomes. The strategy includes four priorities: driving growth from non-traditional sectors, improving backlog quality, maintaining financial discipline, and fostering a diverse, high-performance culture. Fluor aims for 70% of revenue from non-oil and gas segments by 2023, with plans for a debt-to-capitalization ratio of 20-40% by 2024, targeting earnings per share of $3.00 to $3.50.