Fluor Corporation - FLR STOCK NEWS

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.

Fluor Corporation (NYSE: FLR) announced that its subsidiary, Stork, won a framework agreement for inspection quality assurance services from Sellafield Limited in the UK. The contract will be recorded in the fourth quarter of 2020 and spans three years. Stork will provide essential independent inspection services to ensure compliance with regulatory standards. This agreement enhances Stork’s role in the UK nuclear sector and leverages remote inspection technologies for efficiency and safety. The project is managed from Stork's Aberdeen office, with operations commencing in November 2020.

Fluor Corporation (NYSE: FLR) will host a conference call on December 10 at 8:30 a.m. Eastern to discuss its third-quarter results for the period ending September 30, 2020. The company received a notice from the NYSE regarding non-compliance due to a delayed filing of its Form 10-Q. However, Fluor plans to regain compliance by submitting the report before the earnings call.

The call will be accessible via webcast and telephone, with a replay available for 30 days.

Fluor Corporation (NYSE: FLR) has announced a partnership with Sargent & Lundy to provide joint marketing and design services for new NuScale Power small modular nuclear reactor plants in North America. This collaboration leverages Fluor's 70+ years in the nuclear sector and Sargent & Lundy's extensive design experience. The NuScale reactor is the first small modular reactor to receive U.S. Nuclear Regulatory Commission design certification, emphasizing its potential to supply carbon-free energy. Both companies are poised to engage with various stakeholders for upcoming development efforts.

Fluor Corporation (NYSE: FLR) reported Q2 2020 results with revenue of $4.1 billion and a net loss of $27 million, or $0.19 per share. Segment profit improved to $61 million, a significant recovery from a loss of $393 million a year ago, despite the operational impact of COVID-19. New awards totaled $2.2 billion, while the ending backlog stood at $29 billion. The Energy & Chemicals segment saw a profit rise, while the Diversified Services segment reported a loss. Fluor has suspended its 2020 guidance but plans to share third-quarter results in four weeks.