Fluor Corporation - FLR STOCK NEWS

Fluor Corporation (NYSE: FLR) will hold a conference call to review results for its fourth quarter and year ended December 31, 2023. The public is invited to listen to the conference call on Tuesday, February 20, at 9:30 a.m. Eastern with Chairman and Chief Executive Officer David Constable and Chief Financial Officer Joe Brennan. Financial results will be released prior to market open that day. The live webcast and a replay will be available with accompanying slides online at investor.fluor.com. The call will also be accessible by telephone at +1 888-800-3960 (U.S./Canada) or +1 646-307-1852. The conference ID is 4438700. A replay of the webcast will be available for 30 days.

Fluor Corporation (NYSE: FLR) has elected Lisa Glatch, a former Sempra Energy executive, to its Board of Directors. Glatch will serve on the Audit Committee and the Commercial Strategies and Operational Risk Committee, bringing the total number of Fluor Board members to ten, nine of whom are independent. David E. Constable, Chairman and CEO of Fluor Corporation, expressed confidence in Glatch's leadership credentials and global experience in multibillion-dollar capital projects. Glatch's 35 years of experience in infrastructure, energy, and liquified natural gas, along with her service in Fortune 500 companies, is expected to support growth across Fluor's portfolio as the company's clients transition to sustainable infrastructure and energy solutions. She has held various senior executive positions in business development, operations, and project management at CH2M (formerly CH2M Hill), Jacobs, and Fluor. Glatch also serves as a non-executive director on the boards of Xylem, a global water technology provider, and Hess, a global independent energy company. Glatch graduated from the University of Colorado, Boulder, with a bachelor’s degree in chemical engineering and completed advanced management programs at the University of Pennsylvania and Stanford University.

Fluor Corporation (FLR) has been awarded two contracts from Dow for the construction of the world’s first net-zero scope 1 and 2 emissions integrated ethylene cracker and derivatives complex in Fort Saskatchewan, Alberta, Canada. The contracts represent a total value of over $3 billion and aim to lower greenhouse gas emissions while growing capacity and delivering low-emissions products to customers. The project is projected to decarbonize approximately 20% of Dow's global ethylene capacity and grow its polyethylene capacity by approximately two million metric tonnes per annum.

Tutor Perini Corporation (TPC) appoints Gary Smalley as President, succeeding Ronald Tutor as CEO, and Ryan Soroka as Senior Vice President and CFO. Smalley, currently the Executive VP and CFO, will take over as CEO on January 1, 2025. Soroka, the current Chief Accounting Officer, will assume the role of Senior VP and CFO. The company is also in search of a replacement for the Chief Accounting Officer position.

Fluor Corporation (NYSE: FLR) will be participating in several investor conferences. Joe Brennan, CFO, and Jason Landkamer, Executive Director of Investor Relations, will host one-on-one meetings at the Baird Global Industrial Conference on November 9 in Chicago, IL. Jason Landkamer will also host virtual one-on-one meetings at the NYSE Virtual Industrials conference on November 14. Additionally, Landkamer will meet with investors at the UBS Industrials Summit on November 29 in Palm Beach, FL. Dave Watrous, VP of Advanced Technologies & Life Sciences, and Jason Landkamer will participate in a virtual fireside chat at the Vertical Research Virtual Infrastructure and Reshoring Summit on December 13.

Fluor Corporation has been chosen by BHP Canada to develop Stage 2 of the Jansen potash project in Saskatchewan, Canada. The project is expected to be completed in the fourth quarter of 2023. Fluor's Mining & Metals business will recognize its undisclosed reimbursable contract value. The Jansen site will have a production capacity of approximately 8.5 million tonnes of potash per year.

Fluor Corporation (NYSE: FLR) reported net earnings of $206 million and diluted earnings per share of $1.15 for Q3 2023. The company also achieved revenue of $4.0 billion and new awards of $5.0 billion in the same quarter. The backlog increased to 70% reimbursable compared to 58% a year ago. Fluor increased its 2023 guidance for adjusted EPS and adjusted EBITDA.

Fluor Corporation has been selected by Altris AB to provide front-end engineering and design services for the world's first industrial-scale sodium-ion battery production facility in Sweden. The contract value was recognized in the third quarter of 2023. Altris is a Swedish sodium-ion battery maker that develops cathodes, electrolytes, battery cells, and the industrialization process for these products. Sodium-ion batteries are safe and easy to recycle. The project will be managed from Fluor's England office, with completion scheduled for early 2024.

Fluor's subsidiary, Stork UK, has secured a three-year contract with Sellafield Ltd for its nuclear site in the UK.