Fluor Divests Equity Stake in Mexico JV
Fluor (NYSE: FLR) has sold its equity stake in Mexico-based joint venture ICA-Fluor Daniel to its existing partner ICA for $175 million.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
“Since the joint venture was formed in 1993, Fluor and ICA have successfully completed numerous projects in support of Mexico’s oil and gas, power, mining and manufacturing markets,” said Jim Breuer, Fluor’s Chief Executive Officer. “Given our current strategic priorities and in agreement with our partner, we determined that this is the right time to conclude this long-standing JV, allowing ICA more opportunity to grow independently and Fluor to direct attention to other growth areas, while maintaining the ability to support ICA’s efforts in
The expected gain on sale, combined with year-to-date operating income from the JV, will exceed Fluor’s anticipated 2026 earnings contribution from ICA-Fluor Daniel. The company will provide additional information on this transaction and update its guidance on our upcoming second quarter earnings call on August 7.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s nearly 23,500 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of
#corporate
View source version on businesswire.com: https://www.businesswire.com/news/home/20260716418693/en/
Brett Turner
Media Relations
864.281.6976
Jason Landkamer
Investor Relations
469.398.7222
Source: Fluor Corporation