Fluor Corp Stock Price, News & Analysis

Fluor (NYSE: FLR) has announced its upcoming third quarter earnings conference call, scheduled for Friday, November 8, 2024, at 8:30 a.m. Eastern. The call will be led by Chairman and CEO David Constable and CFO Joe Brennan. Financial results will be released before the market opens on the same day.

Investors and the public can access the live webcast and accompanying slides at investor.fluor.com. The call will also be available via telephone at +1 888-800-3960 (U.S./Canada) or +1 646-307-1852, using conference ID 4438700. A replay of the webcast will be available for 30 days.

Fluor , headquartered in Irving, Texas, is a global engineering and construction company with nearly 34,000 employees. The company reported revenue of $15.5 billion in 2023 and is ranked 265 on the Fortune 500 list.

Fluor (NYSE: FLR) has announced significant leadership changes, effective immediately. Jim Breuer has been appointed to the newly created position of Chief Operating Officer (COO), tasked with driving a more holistic view of Fluor's markets, strengths, and needs across its three business segments. Kevin Hammonds has been named Chief Legal Officer (CLO), succeeding John Reynolds, who will retire after nearly 40 years of service but remain as Corporate Secretary until May 2025.

These appointments come as Fluor wraps up the first chapter of its 'building a better future' strategy. CEO David E. Constable expressed satisfaction with the company's progress and outlined future plans, including maximizing growth opportunities, focusing on execution, generating consistent operating cash flow, and developing talent. Fluor, with nearly 34,000 employees and $15.5 billion in 2023 revenue, continues to provide engineering, procurement, and construction services globally.

Fluor (NYSE: FLR) reported strong financial results for Q2 2024. Revenue increased 7% to $4.2 billion, while net earnings attributable to Fluor rose to $169 million ($0.97 per diluted share) from $61 million in the prior year. Adjusted diluted EPS was $0.85. The company demonstrated robust operating cash flow of $282 million, prompting an increase in 2024 cash guidance to $500-$600 million.

Fluor's consolidated segment profit reached $194 million, slightly up from $191 million in Q2 2023. New awards for the quarter totaled $3.1 billion, with ending consolidated backlog growing to $32.3 billion. The company's cash position improved to $2.6 billion. Fluor affirmed its 2024 adjusted EPS guidance and tightened its adjusted EBITDA outlook, reflecting confidence in its strategy and market positioning.

Fluor (NYSE: FLR) has secured a contract with RoPower Nuclear for Phase 2 front-end engineering and design (FEED) work at a small modular reactor (SMR) facility in Doicesti, Romania. The project will utilize NuScale Power's SMR technology to generate carbon-free power, marking a significant milestone in Romania's clean energy initiatives. The contract signing ceremony was attended by high-level officials from Romania and the U.S., emphasizing bilateral cooperation.

Fluor's Phase 2 FEED work will customize a six-reactor SMR power plant capable of producing up to 462 megawatts, adhering to European codes and standards. This facility will be the first of its kind in Europe, showcasing Fluor's expertise in next-generation nuclear power deployment.

Fluor (NYSE: FLR) and its partners have celebrated the official deck connection of the Gordie Howe International Bridge, spanning the Detroit River. The bridge, measuring 853 meters, connects Windsor, Ontario, and Detroit, Michigan, making it the longest cable-stayed bridge in North America and the 10th longest globally. It's also the world's longest composite steel and concrete decked cable-stayed bridge.

The project, undertaken by Bridging North America (BNA), a joint venture including Fluor, began construction in 2018. The bridge will feature six lanes of traffic, two ports of entry, a multi-use path, and connections to I-75. Scheduled to open in fall 2025, Fluor and ACS will operate and maintain the facility for 30 years post-completion.

Fluor (NYSE: FLR) announces the completion of the final weld on the first production train at the LNG Canada project in Kitimat, British Columbia. This milestone marks significant progress in one of Canada's largest energy projects, with over 380 welders contributing since 2018.

The JGC-Fluor joint venture, responsible for various project aspects including engineering and construction, is now closer to introducing gas and commencing operations. LNG Canada, a collaboration among Shell, Petronas, PetroChina, Mitsubishi, and Korea Gas, is expected to produce 12.7 metric tonnes of LNG annually, with the first shipment slated for mid-2025. Fluor, with 34,000 employees and $15.5 billion in 2023 revenue, continues to lead in delivering capital-efficient projects globally.

Fluor (NYSE: FLR) will host a conference call to discuss its second-quarter financial results for the period ending June 30, 2024. The call will take place on August 2, 2024, at 8:30 a.m. Eastern, led by Chairman and CEO David Constable and CFO Joe Brennan. Financial results will be announced before the market opens on the same day. The live webcast and accompanying slides will be accessible at investor.fluor.com, with a replay available for 30 days. The call can also be accessed via telephone at +1 888-800-3960 (U.S./Canada) or +1 646-307-1852 using conference ID 4438700.

Fluor (NYSE: FLR) announced its Advanced Technologies & Life Sciences business has secured an EPCM contract for Phase One of Northvolt’s $4.8 billion (€4.5 billion) lithium-ion battery factory in Heide, Germany.

The project's value for Fluor will be recognized in Q2 2024, with completion scheduled for 2027. Fluor's scope includes constructing utilities and chemical units for the greenfield campus.

Northvolt, a Swedish battery manufacturer, supplies batteries for consumer products, electric vehicles, and energy storage systems. Fluor has 34,000 employees globally and reported $15.5 billion in revenue for 2023.

Fluor (NYSE: FLR) has announced that the U.S. Department of Energy’s National Nuclear Security Administration (NNSA) has selected PanTeXas Deterrence , a joint venture including Fluor, to manage and operate the Pantex Plant near Amarillo, Texas. This contract spans five years initially, with potential for three additional five-year options, totaling up to 20 years with funding of approximately $30 billion. The Pantex Plant plays a important role in maintaining the U.S. nuclear weapons stockpile and supporting various nuclear weapons programs. Fluor aims to bring its expertise to enhance safety, production, and program excellence at the plant.