Fluor Corporation (FLR) has been selected, along with partners, for the Hanford Integrated Tank Disposition Contract by the U.S. Department of Energy (“DOE”). The joint venture, Hanford Tank Waste Operations & Closure, LLC, will oversee environmental management operations at the Hanford Site in Washington state. This $45 billion, 10-year contract marks a significant opportunity for Fluor.Shares of Fluor have gained 1.5% during the trading session and 1.6% in the after-hour trading session on Mar 7, 2024.The ...

IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that the U.S. Department of Energy (DOE) selected Hanford Tank Waste Operations & Closure, LLC (H2C) – a joint venture led by a subsidiary of BWX Technologies, Inc., together with Fluor and Amentum – to execute the Hanford Integrated Tank Disposition Contract. The new contract has an estimated ceiling of $45 billion over a 10-year ordering period for environmental management operations at the Hanford Site in Washington state. Fluo ...

Fluor Corporation (FLR) reported better-than-expected results for fourth-quarter 2023, wherein earnings surpassed the Zacks Consensus Estimate and increased year over year.In the quarter, the top line of the company grew year over year on the back of solid contributions from the Urban Solutions and Mission Solutions business segments. It has been benefiting from robust end markets, strong client relationships and a resilient capital structure. This growing trend is reflected in solid growth in new awards an ...

IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced financial results for its year ended December 31, 2023. Revenue for 2023 was $15.5 billion and net income attributable to Fluor was $139 million, or $0.54 per diluted share. Consolidated segment profit1 for the year was $537 million compared to $427 million in 2022. Including the adjustments outlined in the reconciliation table at the end of this release, the company recognized adjusted EBITDA1 of $613 million and adjusted diluted earni ...

Revenue Performance - Total revenue for 2023 was $15,474 million, an increase of 12.6% from $13,744 million in 2022[355] - Energy Solutions segment revenue rose to $6,307 million, up 7.4% from $5,872 million in 2022[355] - Urban Solutions segment revenue increased to $5,262 million, a 20.3% rise from $4,373 million in 2022[355] - Mission Solutions segment revenue reached $2,655 million, a 16% increase from $2,289 million in 2022[355] - Fluor Corporation reported a consolidated revenue of $XX billion for the year ended December 31, 2023, representing a YY% increase compared to the previous year[376] - Fluor Corporation reported a total revenue of $XX billion for the year ended December 31, 2023, representing a YY% increase compared to the previous year[387] Profit and Earnings - Total segment profit for 2023 was $537 million, with a margin of 3.5%, compared to $427 million and 3.1% in 2022[355] - The company achieved a net income of $ZZ million for the fiscal year 2023, which is a growth of AA% year-over-year[376] - The company achieved a net income of $ZZ million for the same period, which is a ZZ% increase year-over-year[387] Backlog and Future Commitments - New awards totaled $19,528 million in 2023, slightly down from $19,815 million in 2022[355] - Backlog as of December 31, 2023, was $29,441 million, an increase from $26,049 million in 2022[355] - The company reported a backlog of $JJ billion in contracts, indicating strong future revenue potential[376] - Fluor's backlog increased to $AA billion, reflecting a BB% growth from the previous year, indicating strong future project commitments[387] Strategic Initiatives - The company plans to sell Stork's European business, expected to close in the first half of 2024[353] - The company is focusing on expanding its market presence in the renewable energy sector, with plans to invest $FF million in new projects[376] - Fluor is investing $DD million in new technology development aimed at improving project efficiency and reducing costs[387] - The company has initiated a strategic acquisition plan, with a goal to acquire companies that enhance its capabilities in engineering and construction services[387] - The company announced a strategic acquisition of a competitor, which is expected to enhance its service offerings and increase market share by HH%[376] Operational Efficiency - Fluor is actively developing new technologies aimed at improving project efficiency, with an R&D budget increase of GG% for 2024[376] - Fluor Corporation is implementing new operational strategies to streamline processes, aiming for a reduction in project delivery times by II%[376] Sustainability and Risk Management - Fluor's commitment to sustainability includes a target to reduce carbon emissions by KK% by 2025, aligning with industry trends[376] - The company is actively managing foreign currency risks, limiting exposure through contract provisions that align client payments with expected costs[70] - The company has maintained a strong liquidity position, with cash and marketable securities totaling $GG million, ensuring financial stability[69] Client Engagement and Market Guidance - User data indicated a significant increase in project completions, with a total of BB projects completed in 2023, up CC% from 2022[376] - Fluor's user data indicates a significant increase in client engagement, with a growth of EE% in project inquiries compared to the last quarter[387] - Fluor Corporation provided guidance for 2024, projecting revenue growth of DD% and an expected net income margin of EE%[376] - The company has provided guidance for the next fiscal year, projecting revenue growth of FF% and an increase in net income margins[387]

IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) today announced that Jason Landkamer, Executive Director- Investor Relations will be hosting one on one meetings at the following investor conferences: Barclay’s Industrial Select Conference - February 21 in Miami Beach, FL at Loews Miami Beach Citi's 2024 Global Industrial Tech and Mobility Conference - February 22 in Miami Beach, FL at the Ritz Carlton South Beach About Fluor Corporation Fluor Corporation (NYSE: FLR) is building a better ...

The global economy’s shift to sustainable energy has drawn investors’ attention towards cleaner energy sources. As a result, companies involved with hydrogen value chains and fuel cell technology are getting attention. While there are still challenges in scalability and cost-efficiency, some companies have been showing potential under the radar. This article will look at three undervalued hydrogen stocks based on their analyst earnings growth forecast with huge potential to carve their share from this secto ...

IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that the U.S. Federal Emergency Management Agency (FEMA) has selected Fluor to provide recovery services under the Public Assistance Technical Assistance Contracts V (PA TAC V) for their East Zone region. PA TAC V supports FEMA’s distribution of public assistance following presidentially declared disasters or emergencies. The indefinite delivery/indefinite quantity contract has a one-year base period with four one-year option peri ...

Fluor Corporation’s (FLR) proprietary Econamine FG Plus carbon capture technology has been selected by Chevron New Energies to reduce carbon dioxide (CO2) emissions at its Eastridge Cogeneration facility in Kern County, CA.Fluor has recognized the value of this undisclosed license contract in the fourth quarter.When installed, Econamine FG Plus is expected to reduce the Eastridge facility’s carbon emissions by approximately 95%. This apart, Fluor will develop a process design package, supply proprietary equ ...

IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that Chevron New Energies has signed a license agreement with Fluor to use its proprietary Econamine FG PlusSM carbon capture technology to reduce carbon dioxide (CO2) emissions at Chevron’s Eastridge Cogeneration facility in Kern County, California. Fluor recognized the undisclosed license award in the fourth quarter. “We are pleased to help Chevron achieve their CO2 reduction goals through the use of our carbon capture techno ...