Fluor Corporation - FLR STOCK NEWS

Fluor Corporation (NYSE: FLR) has announced substantial engineering completion for Albemarle's Lithium Conversion project in Meishan City, Sichuan Province, China. This facility aims to produce 50,000 tons of lithium hydroxide per year, crucial for electric vehicle batteries. The project has reported over 3 million safe hours worked, showcasing significant safety milestones. Fluor continues to provide engineering, procurement, and construction management services, positioning Albemarle as a key player in the growing lithium market.

Fluor Corporation (NYSE: FLR) announced its participation in two investor conferences this year. On November 10, 2022, CFO Joe Brennan and IR head Jason Landkamer will attend the Baird Global Industrial Conference. Following this, they will join the Credit Suisse 10th Annual Industrials Conference on December 1, 2022, featuring a fireside chat at 8:45 a.m. ET. A live webcast and replay will be available at investor.fluor.com. Fluor, based in Irving, Texas, generated $12.4 billion in revenue in 2021.

Fluor Corporation (NYSE: FLR) has secured a contract for engineering and procurement services to develop a major renewable diesel complex at the Strathcona refinery in Alberta, Canada. This facility is projected to be the largest renewable diesel production site in Canada, producing 20,000 barrels daily from local feedstocks. The contract value was included in Fluor's third quarter 2022 bookings. Fluor's involvement aims to support sustainable energy initiatives, integrating their expertise with local resources.

Fluor Corporation (NYSE: FLR) has secured two engineering, procurement, and construction management contracts from BASF, valued at over $2 billion. These contracts are part of BASF's new Verbund program in Zhanjiang, Guangdong, China, and are expected to enhance Fluor's longstanding client relationship. The project scope includes the ethylene oxide/ethylene glycol unit and infrastructure utilities, supported by Fluor's Shanghai office. This contract adds to Fluor's significant history of projects with BASF over the past two decades.

Fluor Corporation (NYSE: FLR) has secured a 4-year extension for its management and operating contract at the Savannah River Site from the U.S. Department of Energy (DOE), with an optional additional year. The total reimbursable contract value is $12 billion for 5 years, with Fluor booking $4.5 billion in Q3 for its 4-year share. The Savannah River Site focuses on environmental management and nuclear non-proliferation efforts, ensuring continuous operations and supporting U.S. security.

Fluor Corporation (NYSE: FLR) has been selected by a leading biologics company to manage procurement and construction for a large-scale biologics drug substance manufacturing facility in Scandinavia. The contract, valued in the multi-hundred-million-dollar range, is expected to be booked in Q3 2022. This facility will enhance production capacity for advanced biologics, including vaccines and oncology medicines, with operations slated to begin in 2025. Fluor's Advanced Technologies & Life Sciences division, supported by the Nordic Technology Hub in Copenhagen, is leading the project.

Fluor Corporation (NYSE: FLR) announced the first production of copper concentrate at Anglo American's Quellaveco project in Peru. This milestone initiates testing at the processing plant and ramps up mining activities toward full operations. The project, a significant copper deposit in Peru, is expected to yield 330,500 short tons of copper equivalent annually for the first decade, increasing Peru’s copper output by 10% and creating 2,500 jobs. The project was completed on schedule and within budget, demonstrating effective collaboration amidst global challenges.

Fluor Corporation (NYSE: FLR) reported Q2 2022 diluted EPS of $0.38, with an adjusted EPS of $0.13. Revenue reached $3.3 billion, and the company secured new awards totaling $3.6 billion, resulting in a backlog of $19.5 billion. Despite a profit of $108 million, the company incurred charges from ongoing projects and higher tax expenses. Fluor adjusted its full-year EPS guidance to $1.15-$1.35 and introduced adjusted EBITDA guidance of $380-$430 million. The performance varied across business segments, with notable profits and losses reported.

Fluor Corporation (NYSE: FLR) announced that Roya Noorbakhsh and Laura Ware, leaders of the Los Angeles International Airport's Automated People Mover project, received the P3 Champions of the Year award from the American Road & Transportation Builders Association. This recognition highlights their significant contributions to public-private partnerships in transportation. Noorbakhsh was named Trailblazer of the Year, and Ware received the Emerging Leader of the Year award, reflecting their impactful roles in advancing women in engineering and construction.