Fluor Corp Stock Price, News & Analysis

Fluor Corporation (NYSE: FLR) will hold a conference call on May 6, 2022, at 8:30 A.M. Eastern time, to discuss its first-quarter financial results for the period ending March 31, 2022. The call will feature CEO David Constable and CFO Joe Brennan, and financial results will be released prior to market open on that day. Interested parties can access the conference via webcast or via telephone at +1 800-289-0720. A replay will be available for 30 days.

Fluor Corporation (NYSE: FLR) announced a $110 million equity investment from Japan's JBIC, along with JGC and IHI, in NuScale Power, reflecting an equity valuation of approximately $1.9 billion. The investment will result in Japan NuScale Innovation, LLC holding 8-9% of NuScale post-merger with Spring Valley Acquisition Corporation. Fluor retains a majority stake and aims to advance the Carbon Free Power Project in Idaho. This partnership supports the U.S.-Japan Climate Partnership, enhancing commercial collaboration on advanced energy technologies.

Fluor Corporation (NYSE: FLR) has received final notice-to-proceed from the Texas Department of Transportation for Phase 2 of the Interstate 35E project. This contract, valued at approximately $640 million, positions Lone Star Constructors, a Fluor-led joint venture, to begin construction in summer 2022. The project aims to improve traffic mobility in the Dallas metroplex and is expected to be completed by early 2026. Fluor had previously booked its share of the contract value in Q3 2021, contributing to its reported revenue of $12.4 billion in 2021.

Fluor Corporation (NYSE: FLR) has announced the completion of the Union Square Branch of the Green Line Extension light rail project, now open to the public. This new 0.7-mile line connects Cambridge and Somerville, enhancing transportation access for the greater Boston area. With projected daily ridership reaching 45,000 by 2030, the project aims to alleviate traffic and reduce pollution. Construction began in 2018, and the second line of the 4.7-mile project is expected to open later this year.

Fluor Corporation (NYSE: FLR) and The Lane Construction Corporation completed the Port Access Road project for the South Carolina State Port Authority ahead of schedule. This project, which began in 2016, enhances access to the Hugh K. Leatherman Jr. terminal and local infrastructure, serving Charleston's rapidly growing container port. The completion includes key roadway improvements, with all lanes now open to traffic. Fluor emphasizes the economic significance of reliable infrastructure, especially given current global supply chain challenges.

Fluor Corporation (NYSE: FLR) reported a 2021 revenue of $12.4 billion but incurred a net loss of $144 million, or $1.46 per diluted share. The company achieved new awards totaling $8.8 billion and ended the year with a backlog of $18.9 billion. Segment profits rose to $374 million from $333 million in 2020, with operational improvements noted in Energy Solutions and Mission Solutions. However, Urban Solutions saw a significant decline in both revenue and profit due to project closeouts. For 2022, Fluor has set adjusted EPS guidance of $1.15 to $1.40.

Fluor Corporation (NYSE: FLR) has announced an increase in its credit facility from $1.65 billion to $1.8 billion, extending the maturity to February 2025. The enhanced facility includes an ESG-linked pricing option aimed at lowering borrowing costs. CFO Joe Brennan emphasized this move aligns with the company's goals set in January 2021 to stabilize finances and reflects banks' confidence in Fluor's future. The facility was arranged with major lenders like BNP Paribas and BofA Securities.

Fluor Corporation (NYSE: FLR) has appointed David Constable as the new chairman, succeeding Alan Boeckmann, who will not seek re-election at the annual meeting on May 5, 2022. Boeckmann, a longstanding leader in the company for nearly 40 years, expressed confidence in Fluor's current direction under Constable's leadership. Constable, who became CEO in January 2021, aims to continue enhancing Fluor's balance sheet and restoring investor confidence.

Fluor Corporation (NYSE: FLR) and Walsh Construction have commenced construction on the Chicago Transit Authority’s North Main Line Red and Purple Line track structure as part of the Red and Purple Modernization (RPM) Phase One Project. The project includes straightening historical track curves, improving safety, and enhancing service speed for commuters. Completion is expected by 2025, which will modernize 100-year-old rail structures, increase capacity, and improve reliability with new signal systems across 23 track miles.