Welcome to our dedicated page for Fluor Corporation news (Ticker: FLR), a resource for investors and traders seeking the latest updates and insights on Fluor Corporation stock.
Fluor Corporation (NYSE: FLR) is a global leader in engineering, procurement, fabrication, construction, maintenance, and project management services. With a legacy spanning over a century, Fluor is renowned for delivering solutions to some of the world's most complex and challenging projects.
Headquartered in Irving, Texas, this Fortune 500 company operates worldwide with a workforce of around 40,000 employees. Fluor's diverse portfolio spans various sectors including energy, chemicals, government, industrial, infrastructure, mining, and power. The firm's business is organized into three primary segments: urban solutions, mission solutions, and energy solutions.
Fluor's commitment to excellence is reflected in its consistent ranking on Fortune magazine’s Most Admired Companies list and Ethisphere Institute’s World’s Most Ethical Companies list. In 2014, the company was also recognized as one of North America Aon Hewitt Top Companies for Leaders.
In 2023, Fluor reported revenues of $15.5 billion, underscoring its significant market presence and operational efficacy. The company is currently engaged in numerous high-profile projects around the globe, leveraging its extensive expertise to deliver innovative and sustainable solutions.
Fluor's strategic partnerships and robust financial health position it as a key player in its industry, continually driving forward with new initiatives and expanding its impact on a global scale.
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.
Fluor Corporation (NYSE: FLR) will host a conference call on February 26, 2021, at 8:30 a.m. Eastern time to discuss financial results for Q4 and the full year ending December 31, 2020. CEO David Constable and CFO Joe Brennan will present the results, which will be disclosed before market opening. The public can access the live webcast and replay at investor.fluor.com. Fluor reported $17.3 billion in revenue for 2019 and offers engineering and construction services globally.
Fluor Corporation (NYSE: FLR) has secured a cost-reimbursable development agreement from Utah Associated Municipal Power Systems (UAMPS) for its Carbon-Free Power Project. This agreement will see Fluor provide estimating, design, and engineering services, with the initial value to be booked in Q1 2021. The project aims to deliver clean, reliable energy using NuScale Power’s small modular reactor technology. Additionally, UAMPS has received a $1.355 billion cost-share award from the U.S. Department of Energy to support this groundbreaking nuclear initiative.
Fluor Corporation (NYSE: FLR) has announced a revamped organizational structure aimed at aligning its operations with growth markets. Effective Q1 2021, Fluor will operate in three segments: Energy Solutions, Urban Solutions, and Mission Solutions. The company plans to divest its maintenance services segment, Stork, deeming it not aligned with its core portfolio. This strategic shift aims to enhance operational focus and efficiency as Fluor continues to serve federal and international clients.
Fluor Corporation (NYSE: FLR) is hosting a virtual strategy day for analysts and investors on January 28, from 9 a.m. to 11:30 a.m. EST. CEO David Constable and senior management will present their new strategy aimed at enhancing long-term shareholder value. A live Q&A session will follow the presentations. Participants can access the webcast and presentation slides at investor.fluor.com. A replay will be available after the event.
Fluor is a global leader in engineering, with a revenue of $17.3 billion in 2019.
Fluor Corporation (NYSE: FLR) announced a 26-month maintenance contract extension awarded to its subsidiary, Stork, by Sitech Manufacturing Services in the Netherlands. The contract, which will be booked in Q4 2020, reflects a strong, long-term partnership that has lasted 25 years. Stork will provide comprehensive maintenance and project services, including mechanical, electrical, and instrumentation services, at the Chemelot industrial complex. The agreement commenced in October 2020, with options for further extensions after December 2022.
Fluor Corporation (NYSE: FLR) reported third-quarter 2020 revenue of $3.8 billion, with net earnings of $19 million, or $0.14 per share. Segment profit increased to $129 million from $79 million a year prior, while operating cash flow was $80 million. New awards totaled $1.7 billion, and the ending backlog stands at $27.8 billion. Challenges persist, as COVID-19 impacts capital investment decisions and project execution. Despite suspending 2020 guidance, a stable cash balance of around $2 billion is expected through year-end.
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