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 (NYSE: FLR) and its partners have celebrated the official deck connection of the Gordie Howe International Bridge, spanning the Detroit River. The bridge, measuring 853 meters, connects Windsor, Ontario, and Detroit, Michigan, making it the longest cable-stayed bridge in North America and the 10th longest globally. It's also the world's longest composite steel and concrete decked cable-stayed bridge.
The project, undertaken by Bridging North America (BNA), a joint venture including Fluor, began construction in 2018. The bridge will feature six lanes of traffic, two ports of entry, a multi-use path, and connections to I-75. Scheduled to open in fall 2025, Fluor and ACS will operate and maintain the facility for 30 years post-completion.
Fluor (NYSE: FLR) announces the completion of the final weld on the first production train at the LNG Canada project in Kitimat, British Columbia. This milestone marks significant progress in one of Canada's largest energy projects, with over 380 welders contributing since 2018.
The JGC-Fluor joint venture, responsible for various project aspects including engineering and construction, is now closer to introducing gas and commencing operations. LNG Canada, a collaboration among Shell, Petronas, PetroChina, Mitsubishi, and Korea Gas, is expected to produce 12.7 metric tonnes of LNG annually, with the first shipment slated for mid-2025. Fluor, with 34,000 employees and $15.5 billion in 2023 revenue, continues to lead in delivering capital-efficient projects globally.
Fluor (NYSE: FLR) will host a conference call to discuss its second-quarter financial results for the period ending June 30, 2024. The call will take place on August 2, 2024, at 8:30 a.m. Eastern, led by Chairman and CEO David Constable and CFO Joe Brennan. Financial results will be announced before the market opens on the same day. The live webcast and accompanying slides will be accessible at investor.fluor.com, with a replay available for 30 days. The call can also be accessed via telephone at +1 888-800-3960 (U.S./Canada) or +1 646-307-1852 using conference ID 4438700.
Fluor (NYSE: FLR) announced its Advanced Technologies & Life Sciences business has secured an EPCM contract for Phase One of Northvolt’s $4.8 billion (€4.5 billion) lithium-ion battery factory in Heide, Germany.
The project's value for Fluor will be recognized in Q2 2024, with completion scheduled for 2027. Fluor's scope includes constructing utilities and chemical units for the greenfield campus.
Northvolt, a Swedish battery manufacturer, supplies batteries for consumer products, electric vehicles, and energy storage systems. Fluor has 34,000 employees globally and reported $15.5 billion in revenue for 2023.
Fluor (NYSE: FLR) has announced that the U.S. Department of Energy’s National Nuclear Security Administration (NNSA) has selected PanTeXas Deterrence , a joint venture including Fluor, to manage and operate the Pantex Plant near Amarillo, Texas. This contract spans five years initially, with potential for three additional five-year options, totaling up to 20 years with funding of approximately $30 billion. The Pantex Plant plays a important role in maintaining the U.S. nuclear weapons stockpile and supporting various nuclear weapons programs. Fluor aims to bring its expertise to enhance safety, production, and program excellence at the plant.
Fluor (NYSE: FLR) announced its participation in several upcoming investor conferences: The KeyBanc Industrials & Basic Materials Conference on May 30 in Boston, MA, the Vertical Research Virtual SMID Innovators Conference on June 3, and the Baird 2024 Global Consumer, Technology & Services Conference on June 5 in New York, NY. Key company representatives, including Joe Brennan, CFO, and Jason Landkamer, Executive Director of Investor Relations, will engage in these events to discuss the company's strategies and performance. Fluor reported $15.5 billion in revenue for 2023 and ranks 303 in the Fortune 500. Additionally, the company has provided engineering, procurement, and construction services globally for over 110 years.
Fluor (NYSE: FLR) announced that its joint venture with Austin Bridge & Road, Lone Star Constructors, has commenced work on Phase 1 of the I-35 Northeast Expansion (NEX) South project in San Antonio, Texas. Awarded a $700 million design-build contract by the Texas Department of Transportation (TxDOT) in Q2 2023, the project aims to improve traffic flow and safety on one of Texas' busiest interstates, serving over 150,000 vehicles daily. Phase 1 includes adding three elevated lanes along a critical stretch of I-35. Completion is expected by early 2028. Fluor, with $15.5 billion in revenue for 2023, continues to bolster its reputation for delivering quality infrastructure projects.
Fluor (NYSE: FLR) has inaugurated a new office in Vadodara, India, enhancing its global project execution capabilities. This new office will support the existing operations in New Delhi, which houses approximately 1,600 personnel. The Vadodara location will add around 300 new employees, bolstering projects in various sectors such as advanced manufacturing, energy, infrastructure, and more. Dan Spinks, Senior Vice President of Global Operations for Fluor’s Energy Solutions, highlighted the strategic importance of this expansion, emphasizing the availability of a skilled workforce in the region. Fluor aims to meet client needs with safety, quality, and sustainability, reinforcing its commitment to India and global project execution excellence. Fluor reported a revenue of $15.5 billion in 2023 and ranks 303 in the Fortune 500 list.
Fluor (NYSE: FLR) reported impressive first quarter 2024 results with new awards totaling $7.0 billion and a 28% increase in ending backlog to $32.7 billion. The company plans to divest non-core businesses by the end of Q2 and affirms its 2024 adjusted EPS and adjusted EBITDA guidance. Revenue for the quarter was $3.7 billion, with a net income of $59 million or $0.34 per diluted share. Adjusted EBITDA was $88 million and adjusted earnings per diluted share were $0.47.
Fluor and SunCoke Energy have extended their contract for maintenance and capital projects at five coke plants in the US for seven years. The undisclosed value of the contract will be recognized as a new award in Q1 2024. This partnership has been ongoing since 2017, with Fluor providing maintenance and small capital project services. The contract extension demonstrates the strong partnership between the two companies.
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