Welcome to our dedicated page for Fluor news (Ticker: FLR), a resource for investors and traders seeking the latest updates and insights on Fluor stock.
Fluor Corporation (NYSE: FLR) generates frequent news as an engineering services company delivering large, complex projects across energy, infrastructure, mining, chemicals and government-related markets. Company updates often highlight major contract awards, project milestones, financial results and strategic portfolio actions, giving investors and industry observers insight into how Fluor’s three segments—Urban Solutions, Energy Solutions and Mission Solutions—are performing.
News about Fluor includes announcements on project execution, such as achieving mechanical completion on BASF’s Zhanjiang Verbund project in China, completing Train 2 of the LNG Canada project in Kitimat, British Columbia, and breaking ground on the State Highway 6 expansion in Bryan/College Station, Texas. Releases also cover new work, including engineering, procurement and integrated construction management services for Teck Resources’ Highland Valley Copper Mine Life Extension project and front-end engineering and design for Project Speedbird, a sustainable aviation fuel hub in North Yorkshire, England.
Investors following FLR news will also find regular earnings releases, conference call announcements, and updates on capital allocation and investment monetization, such as Fluor’s agreement to convert and monetize its stake in NuScale Power. Management’s participation in investor conferences and commentary on backlog, new awards and segment performance are common themes in the company’s news flow.
This news page aggregates these announcements so readers can track how Fluor’s project portfolio evolves, how its segments contribute to results, and how strategic decisions—such as divesting its interest in the Zhuhai fabrication yard in China—affect the overall business. For ongoing context on FLR, this feed provides a centralized view of project developments, financial disclosures and corporate actions over time.
Fluor Corporation (NYSE: FLR) announced a 26-month maintenance contract extension awarded to its subsidiary, Stork, by Sitech Manufacturing Services in the Netherlands. The contract, which will be booked in Q4 2020, reflects a strong, long-term partnership that has lasted 25 years. Stork will provide comprehensive maintenance and project services, including mechanical, electrical, and instrumentation services, at the Chemelot industrial complex. The agreement commenced in October 2020, with options for further extensions after December 2022.
Fluor Corporation (NYSE: FLR) reported third-quarter 2020 revenue of $3.8 billion, with net earnings of $19 million, or $0.14 per share. Segment profit increased to $129 million from $79 million a year prior, while operating cash flow was $80 million. New awards totaled $1.7 billion, and the ending backlog stands at $27.8 billion. Challenges persist, as COVID-19 impacts capital investment decisions and project execution. Despite suspending 2020 guidance, a stable cash balance of around $2 billion is expected through year-end.
Fluor Corporation (NYSE: FLR) announced that its subsidiary, Stork, won a framework agreement for inspection quality assurance services from Sellafield Limited in the UK. The contract will be recorded in the fourth quarter of 2020 and spans three years. Stork will provide essential independent inspection services to ensure compliance with regulatory standards. This agreement enhances Stork’s role in the UK nuclear sector and leverages remote inspection technologies for efficiency and safety. The project is managed from Stork's Aberdeen office, with operations commencing in November 2020.
Fluor Corporation (NYSE: FLR) will host a conference call on December 10 at 8:30 a.m. Eastern to discuss its third-quarter results for the period ending September 30, 2020. The company received a notice from the NYSE regarding non-compliance due to a delayed filing of its Form 10-Q. However, Fluor plans to regain compliance by submitting the report before the earnings call.
The call will be accessible via webcast and telephone, with a replay available for 30 days.
Fluor Corporation (NYSE: FLR) has announced a partnership with Sargent & Lundy to provide joint marketing and design services for new NuScale Power small modular nuclear reactor plants in North America. This collaboration leverages Fluor's 70+ years in the nuclear sector and Sargent & Lundy's extensive design experience. The NuScale reactor is the first small modular reactor to receive U.S. Nuclear Regulatory Commission design certification, emphasizing its potential to supply carbon-free energy. Both companies are poised to engage with various stakeholders for upcoming development efforts.
Fluor Corporation (NYSE: FLR) reported Q2 2020 results with revenue of $4.1 billion and a net loss of $27 million, or $0.19 per share. Segment profit improved to $61 million, a significant recovery from a loss of $393 million a year ago, despite the operational impact of COVID-19. New awards totaled $2.2 billion, while the ending backlog stood at $29 billion. The Energy & Chemicals segment saw a profit rise, while the Diversified Services segment reported a loss. Fluor has suspended its 2020 guidance but plans to share third-quarter results in four weeks.
Fluor Corporation (NYSE: FLR) has appointed David E. Constable as Chief Executive Officer, effective January 1, 2021. The Board's compensation committee approved an employment inducement award for Constable valued at $5 million, split between restricted stock units and stock options. These awards will vest annually over five years, contingent on Constable's continued employment. The stock options require a 25% increase in Fluor’s stock price over 20 consecutive trading days for exercise eligibility. This award will be made outside of Fluor's existing performance incentive plan.
Fluor Corporation (NYSE: FLR) has been awarded a five-year position on the U.S. GSA's One Acquisition Solution for Integrated Services Contract (OASIS), enabling the company to compete for task orders in various professional service disciplines including program management, engineering, and logistics. This strategic contract aims to enhance efficiency and reduce costs for federal agencies. Fluor's president expressed pride in supporting the GSA and expanding their services across multiple government agencies.
Fluor Corporation (NYSE: FLR) reported financial results for Q1 2020, revealing a revenue of $4.1 billion and a net loss of $171 million or $1.22 per diluted share. Consolidated segment profit rose to $52 million from $39 million year-over-year.
The quarter was affected by $353 million in non-cash impairments due to COVID-19 and commodity price drops, including $298 million in impairments in continuing operations. New awards totaled $4.2 billion with an ending backlog of $31.4 billion.
Fluor Corporation (NYSE: FLR) has been recognized as a finalist for the Construction Project of the Year at the 2020 S&P Global Platts Global Energy Awards for its BookraMEG project. This facility, located in Oyster Creek, Texas, produces 750,000 metric tons of monoethylene glycol annually and was completed ahead of schedule and under budget. Additionally, Rocky Plemons, vice president of construction, is a finalist for the Lifetime Achievement award. The winners will be announced on December 10 during a virtual gala.