US Market News
7日前
Fluor Joint Venture Reaches Substantial Completion on Chicago Transit Authority’s Red and Purple Line ProjectJuly 1, 2026 12:54 PM
Business WireFluor Corporation (NYSE: FLR) and its joint venture partner, Walsh Construction Company, have reached Substantial Completion on the Chicago Transit Authority’s (CTA) $2.1 billion Red and Purple Line Modernization (RPM) Phase One Project, the largest completed capital project in CTA’s history.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260701677767/en/A CTA Brown line train traveling on the new Red-Purple Bypass at the Belmont Station crossing. The elevated bypass eliminates track conflicts and improves throughput for Red, Purple and Brown Line service. Note the Chicago skyline in the background.The recently achieved milestone reflects the dedication and collaboration of an exceptional project team, including Fluor, Walsh Construction, Stantec (design), Hitachi (signaling) and Meade (electrical contractor).“Reaching Substantial Completion on this landmark project is a testament to the strength of our partnerships, the commitment of our teams, and our shared focus on delivering transformational infrastructure,” said Shawn West, President of Fluor’s Infrastructure business. “The RPM Phase One project will have a lasting impact on Chicago’s transit system and the communities it serves. I could not be more proud of what this team has accomplished.”Since commencing in 2019, the program has modernized and replaced just over two miles of 100-year-old elevated track between Lawrence and Bryn Mawr, and rebuilt four stations into modern, fully accessible facilities with enhanced passenger flow, security and signage. The project also includes the Red-Purple Bypass, a new elevated bypass for the Brown Line that eliminates track conflicts and improves throughput for Red, Purple, and Brown Line service. In addition, 11 miles of new digital track circuit signaling have been installed, increasing capacity today while enabling future enhancements in signaling and rolling stock.The project was executed while maintaining rail transit service along the alignment. The new stations and tracks fully opened in the summer of 2025, with final completion for RPM Phase One scheduled for November 2026.About Fluor CorporationFluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s nearly 23,500 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $15.5 billion in 2025 and is ranked 292 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement, construction and maintenance services for more than a century. For more information, please visit www.fluor.com or follow Fluor on Facebook, Instagram, LinkedIn, X and YouTube.#infrastructureView source version on businesswire.com: https://www.businesswire.com/news/home/20260701677767/en/Brett Turner
Media Relations
864.281.6976Jason Landkamer
Investor Relations
469.398.7222 Original: Fluor Joint Venture Reaches Substantial Completion on Chicago Transit Authority’s Red and Purple Line Project
US Market News
2月前
Fluor Reports First Quarter 2026 ResultsMay 8, 2026 5:50 AM
Business Wire Completed sale of NuScale investment in April 2026, generating $2.4 billion in proceeds since September 2025 Completed $124 million divestiture of fabrication yard in China Q1 operating cash flow of $110 million, strongest Q1 performance in nine years Share repurchases of $516 million during the period; targeting $1.4 billion for 2026 Fluor Corporation (NYSE: FLR) announced financial results for its first quarter ended March 31, 2026. “I am encouraged by the significant number of new awards we secured in recent months across diverse markets, including gas-fueled and nuclear power, refining, data centers, mining, and uranium enrichment. Our pipeline of work is expanding, and we see compelling opportunities across each of our core markets,” said Jim Breuer, Fluor’s Chief Executive Officer. “The strong growth potential of our business is not impacted by the project charge in the quarter. With a disciplined project delivery model and strong liquidity, we are positioned to convert our growing pipeline, expand margins, and deliver sustained profitable growth.” Q1 2026 Highlights: Revenue of $3.6 billion, down 8% y/y GAAP net earnings attributable to Fluor of $160 million Adjusted EBITDA [1] of $60 million EPS of $1.08; adjusted EPS [1] of $0.14 Consolidated segment profit [1] of $8 million Cash and marketable securities at quarter end were $3.2 billion G&A expenses of $61 million, primarily driven by the impact of stock-based compensation Operating Cash Flow: $110 million vs ($286) million y/y, reflects dividends from JV projects; full year guidance of $300 million maintained New Awards: New awards totaled $2.7 billion, down 54% y/y; 98% reimbursable Backlog: $25.7 billion at 82% reimbursable, slightly up from backlog at December 31, 2025; legacy project backlog now down to $169 million [1] Non-GAAP Financial Measure. See “Non-GAAP Financial Measures” for additional information. Outlook We are not providing forward-looking guidance for U.S. GAAP net earnings or U.S. GAAP earnings per share, or a quantitative reconciliation of adjusted EBITDA or adjusted EPS guidance, because we are unable to predict with reasonable certainty all of the components required to provide such reconciliation without unreasonable efforts, which are uncertain and could have a material impact on GAAP reported results for the guidance period. See “Non-GAAP Financial Measures” for additional information. The company is narrowing its adjusted EBITDA guidance for 2026 from $525 - $585 million to $525 - $560 million. This revision to the upper end of our guidance reflects Q1 recognition of cost growth on a mining project in the Americas, and a temporary slowdown on another project due to Middle East geopolitical concerns. The rest of the overall business continues to deliver at or above expectations. Adjusted EBITDA guidance excludes items similar to those outlined in the reconciliation table at the end of this release. Business Segments Urban Solutions reported a segment profit of $6 million for the first quarter, compared to a profit of $70 million in the same period last year. These results reflect a $37 million impact due to increased costs on a mining project in the Americas. First quarter revenue rose to $2.4 billion from $2.2 billion a year ago. New awards for the quarter were $2.1 billion compared to $5.3 billion a year ago, when we recognized a large pharmaceutical award. Quarterly awards included an aluminum project in the Middle East, incremental work for a pharmaceutical facility and an infrastructure expansion on a mine in Chile. Ending backlog was $19 billion, slightly lower than $20.2 billion a year ago. Energy Solutions delivered segment profit of $74 million in the first quarter, up from $47 million a year ago, primarily driven by recognition of favorable close out items on three projects. Revenue for the quarter declined to $703 million, compared to $1.2 billion in the prior year, reflecting reduced execution activity on several projects nearing completion. New awards in the quarter totaled $213 million, compared to $315 million for the first quarter of 2025. Ending backlog was $4.3 billion versus $6.2 billion a year ago, due to progress on several large projects, including at our JV in Mexico. Mission Solutions reported a segment loss of $71 million in the first quarter versus a $5 million profit in the prior year period. Results were affected by $96 million triggered by the outcome of a court ruling on a lawsuit filed in 2013. Revenue decreased to $523 million from $597 million a year ago. New awards for the quarter totaled $332 million, including a significant FEED award for the Centrus uranium enrichment plant expansion. This compares to $164 million in awards during the first quarter of 2025. Conference Call Fluor will host a conference call at 8:30 a.m. Eastern on Friday, May 8, which will be webcast live and can be accessed by logging onto investor.fluor.com. The call will also be accessible by telephone at 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. Non-GAAP Financial Measures This news release contains discussions of consolidated segment profit (loss) and margin, adjusted net earnings (loss), adjusted EPS and adjusted EBITDA that are non-GAAP financial measures under SEC rules. Segment profit (loss) is calculated as revenue less cost of revenue and earnings attributable to noncontrolling interests. The company believes that segment profit (loss) provides a meaningful perspective on its business results as it is the aggregation of individual segment profit measures that the company utilizes to evaluate and manage its business performance. Adjusted net earnings (loss) is defined as net earnings (loss) from core operations excluding equity method earnings and the impacts of foreign exchange fluctuations, impairments and certain items that management believes are unrelated to actual normalized operational performance. Net earnings (loss) from core operations is net earnings (loss) attributable to Fluor excluding the results of our remaining Stork and AMECO equipment businesses that are no longer classified as discontinued operations but that continue to be marketed for sale or that have been sold. Adjusted EPS is defined as adjusted net earnings divided by weighted average diluted shares outstanding. Adjusted EBITDA is defined as net earnings from operations before interest, income taxes, depreciation and amortization (EBITDA), further adjusted by the same items excluded from adjusted net earnings. The company believes adjusted net earnings, adjusted EPS and adjusted EBITDA allow investors to evaluate the company’s ongoing earnings on a normalized basis and make meaningful period-over-period comparisons. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation from or a substitute for measures of financial performance prepared in accordance with U.S. GAAP. In addition, these non-GAAP measures are not necessarily comparable to similarly titled measures reported by other companies. Reconciliations of consolidated segment profit (loss) adjusted net earnings, adjusted EPS and adjusted EBITDA to the most comparable GAAP measures are included in the press release tables. The company is unable to provide a reconciliation of its adjusted EPS and adjusted EBITDA guidance to the most comparable GAAP measure without unreasonable efforts because it is unable to predict with reasonable certainty all of the components required to provide such reconciliation, including the impact of foreign exchange fluctuations, which are uncertain and could have a material impact on GAAP reported results for the guidance period. About Fluor Corporation Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s nearly 23,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $15.5 billion in 2025 and is ranked 265 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than a century. For more information, please visit www.fluor.com or follow Fluor on Facebook, Instagram, LinkedIn, X and YouTube. Forward-Looking Statements: This release may contain forward-looking statements (including without limitation statements to the effect that the Company or its management "will," "believes," "expects," “anticipates,” "plans" or other similar expressions). These forward-looking statements, including statements relating to strategic and operation plans, future growth, new awards, backlog, earnings, capital allocation plans and the outlook for the company’s business. Actual results may differ materially as a result of a number of factors, including, among other things, the cyclical nature of many of the markets the Company serves and our clients’ vulnerability to poor economic conditions, such as inflation, slow growth or recession, which may result in decreased capital investment and reduced demand for our services; the Company's failure to receive new contract awards; cost overruns, project delays or other problems arising from project execution activities, including the failure to meet cost and schedule estimates; intense competition in the industries in which we operate; the inability to hire and retain qualified personnel; failure of our joint venture or other partners to perform their obligations; the failure of our suppliers, subcontractors and other third parties to adequately perform services under our contracts; cyber-security breaches; possible information technology interruptions; risks related to the use of artificial intelligence and similar technologies; exposure to political and economic risks in different countries, including tariffs and trade policies, geopolitical events and conflicts, civil unrest, security issues, labor conditions and other foreign economic and political uncertainties in the countries in which we do business; the impact of government shutdowns and spending cuts, in particular with respect to our contracts with the U.S. government; client cancellations of, or scope adjustments to, existing contracts; failure to maintain safe worksites and international security risks; risks or uncertainties associated with events outside of our control, including weather conditions, pandemics, public health crises, political crises or other catastrophic events; the use of estimates in preparing our financial statements; client delays or defaults in making payments; uncertainties, restrictions and regulations impacting our government contracts; the potential impact of certain tax matters; the Company's ability to secure appropriate insurance; liabilities associated with the performance of nuclear services; foreign currency risks; the loss of one or a few clients that account for a significant portion of the Company's revenues; failure to adequately protect intellectual property rights; climate change, natural disasters and related environmental issues; increasing scrutiny with respect to sustainability practices; risks related to our indebtedness; the availability of credit and restrictions imposed by credit facilities, both for the Company and our clients, suppliers, subcontractors or other partners; restrictive covenants contained in the agreements governing our debt; possible limitations on bonding or letter of credit capacity; failure to obtain favorable results in existing or future litigation and regulatory proceedings, dispute resolution proceedings or claims, including claims for additional costs; failure by us or our employees, agents or partners to comply with laws; new or changing legal requirements, including those relating to environmental, health and safety matters; and restrictions on possible transactions imposed by our charter documents and Delaware law. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, the Company’s results may differ materially from its expectations and projections. Additional information concerning these and other factors can be found in the Company's public periodic filings with the Securities and Exchange Commission, including the discussion under the heading "Item 1A. Risk Factors" in the Company's Form 10-K filed on February 17, 2026. Such filings are available either publicly or upon request from Fluor's Investor Relations Department: (469) 398-7222. The Company disclaims any intent or obligation other than as required by law to update its forward-looking statements in light of new information or future events. SUMMARY OF FINANCIALS AND U.S. GAAP RECONCILIATION OF CONSOLIDATED SEGMENT PROFIT (LOSS) THREE MONTHS ENDED MARCH 31, (in millions) 2026 2025 Revenue Urban Solutions $ 2,437 $ 2,157 Energy Solutions 703 1,206 Mission Solutions 523 597 Other — 22 Total revenue $ 3,663 $ 3,982 Segment profit (loss) $ and margin % Urban Solutions $ 6 0.2 % $ 70 3.2 % Energy Solutions 74 10.5 % 47 3.9 % Mission Solutions (71 ) (13.6 )% 5 0.8 % Other (1 ) NM 9 40.9 % Total segment profit (loss) $ and margin % $ 8 0.2 % $ 131 3.3 % G&A (61 ) (36 ) Gain on sale of CFHI 124 — Foreign currency gain (loss) 16 (13 ) Interest income, net 15 17 Earnings attributable to NCI 5 9 Earnings before taxes 107 108 Income tax benefit (expense) 7 53 Net earnings before equity method earnings 114 161 Equity method earnings (loss) 51 (393 ) Net earnings (loss) 165 (232 ) Less: Net earnings attributable to NCI 5 9 Net earnings (loss) attributable to Fluor $ 160 $ (241 ) New awards Urban Solutions $ 2,144 $ 5,330 Energy Solutions 213 315 Mission Solutions 332 164 Other — 2 Total new awards $ 2,689 $ 5,811 New awards related to projects located outside of the U.S. 55 % 10 % (in millions) March 31,
2026 March 31,
2025 Backlog Urban Solutions $ 19,007 $ 20,150 Energy Solutions 4,261 6,161 Mission Solutions 2,463 2,397 Other — 10 Total backlog $ 25,731 $ 28,718 Backlog related to projects located outside of the U.S. 43 % 42 % Backlog related to reimbursable projects 82 % 79 % SUMMARY OF CASH FLOW INFORMATION Three Months Ended March 31, (in millions) 2026 2025 OPERATING CASH FLOW $ 110 $ (286 ) INVESTING CASH FLOW Proceeds from the sale of NuScale shares 1,359 — Proceeds from sales and maturities (purchases) of marketable securities 8 54 Capital expenditures (11 ) (11 ) Proceeds from sales of assets (including the sale of CFHI in 2026) 124 62 Investments in partnerships and joint ventures (49 ) (69 ) Other 3 — Investing cash flow 1,434 36 FINANCING CASH FLOW Repurchase of common stock (516 ) (142 ) Purchase and retirement of debt — (18 ) Capital contributions by NCI (net of distributions) 41 — Other (3 ) (3 ) Financing cash flow (478 ) (163 ) Effect of exchange rate changes on cash (14 ) 17 Increase (decrease) in cash and cash equivalents 1,052 (396 ) Cash and cash equivalents at beginning of period 2,135 2,829 Cash and cash equivalents at end of period $ 3,187 $ 2,433 Cash paid during the period for: Interest $ 16 $ 19 Income taxes (net of refunds) 38 30 RECONCILIATION OF U.S. GAAP NET EARNINGS (LOSS) TO ADJUSTED NET EARNINGS AND U.S. GAAP EARNINGS PER SHARE TO ADJUSTED EARNINGS PER SHARE (1) THREE MONTHS ENDED MARCH 31, (In millions, except per share amounts) 2026 2025 Net earnings (loss) attributable to Fluor $ 160 $ (241 ) Exclude: Stork businesses (now divested) 1 (10 ) Net earnings (loss) from core operations (1) 161 (251 ) Adjustments: (2) Equity method (earnings) loss $ (51 ) $ 393 Gain on sale of CFHI (124 ) — Impact of litigation on completed projects (3) 96 28 Impact of bad debt reserve taken for a long-completed project — 22 Embedded foreign currency derivative (gain)/loss (1 ) 1 Foreign currency (gain)/loss (14 ) 13 Tax (benefit) expense on above items (46 ) (81 ) Adjusted Net Earnings $ 21 $ 125 Diluted EPS $ 1.08 $ (1.42 ) Adjusted EPS $ 0.14 $ 0.73 (1) Core operations excludes the results of our now-divested Stork businesses. (2) We exclude earnings impacts for litigation outcomes, claims, settlements or associated damages from adjusted earnings when they are significant in magnitude, non-routine and do not represent on-going normal operations. (3) Reflects impacts from a Q1 2026 ruling on the LOGCAP materials management qui tam matter and a Q1 2025 ruling that reduced working capital to estimated net recoverable value related to a long-standing claim on a project completed in 2019. RECONCILIATION OF U.S. GAAP NET EARNINGS (LOSS) ATTRIBUTABLE TO FLUOR TO ADJUSTED EBITDA THREE MONTHS ENDED MARCH 31, (in millions) 2026 2025 Net earnings (loss) attributable to Fluor $ 160 $ (241 ) Interest income, net (15 ) (17 ) Tax (benefit) expense (7 ) (53 ) Equity method (earnings) loss (51 ) 393 Depreciation & amortization 16 18 EBITDA $ 103 $ 100 Adjustments: (1) Stork businesses (now divested) $ 1 $ (9 ) Gain on sale of CFHI (124 ) — Impact of litigation on completed projects (2) 96 28 Impact of bad debt reserve taken for a long-completed project — 22 Embedded foreign currency derivative (gain)/loss (1 ) 1 Foreign currency (gain)/loss (14 ) 13 Adjusted EBITDA $ 61 $ 155 (1) We exclude earnings impacts for litigation outcomes, claims, settlements or associated damages from adjusted earnings when they are significant in magnitude, non-routine and do not represent on-going normal operations. (2) Reflects impacts from a Q1 2026 ruling on the LOGCAP materials management qui tam matter and a Q1 2025 ruling that reduced working capital to estimated net recoverable value related to a long-standing claim on a project completed in 2019. View source version on businesswire.com: https://www.businesswire.com/news/home/20260508381076/en/ Brett Turner
Media Relations
864.281.6976 tel Jason Landkamer
Investor Relations
469.398.7222 tel Original: Fluor Reports First Quarter 2026 Results
US Market News
3月前
Fluor Signs Contract With X-Energy for Advanced Nuclear Project in TexasApril 6, 2026 4:01 PM
Business Wire
Fluor Corporation (NYSE: FLR) announced today that it has entered into a contract with X-energy to support the company’s proposed advanced nuclear project at Dow’s UCC Seadrift Operations in south Texas. Under the agreement, Fluor will initially deliver Front-End Loading Stage 2 (FEL-2) services. FEL-2 focuses on project definition, strategic planning, feasibility assessment, cost control and risk mitigation. Fluor will recognize the undisclosed contract value for this initial portion of work in the first quarter of 2026.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260406314695/en/Leaders from Fluor, X-energy, and Dow gathered at Fluor’s offices in Houston to kick off the FEL-2 phase of X-energy’s advanced nuclear project in Seadrift, Texas.
The X-energy project proposes to develop four, 80-megawatt small modular reactor (SMR) units to supply Dow’s Seadrift site with safe, reliable, carbon-free electricity and industrial steam, replacing aging energy and steam infrastructure. The project is supported by the U.S. Department of Energy’s (DOE) Advanced Reactor Demonstration Program (ARDP), which accelerates the commercialization of advanced nuclear technologies through cost-shared partnerships with industry. A construction permit application was submitted in March 2025 and is currently being reviewed by the U.S. Nuclear Regulatory Commission.
“X-energy’s technology offers a powerful pathway for small modular reactors to deliver safe, reliable and fit-for-purpose baseload power in an industrial setting,” said Pierre Bechelany, Fluor’s Business Group President of Energy Solutions. “With eight decades of nuclear experience, Fluor brings the proven expertise and disciplined execution required to help advance this landmark project.”
X-energy was selected by the DOE in 2020 to develop, license and build its XE-100 advanced SMR and a first TRISO-X fuel fabrication facility. Since then, the company has completed engineering and preliminary reactor design, advanced development and licensing of its fuel facility in Oak Ridge, Tennessee. The Seadrift project is expected to become the first grid-scale advanced nuclear reactor deployed to serve an industrial facility in North America.
Dow’s UCC Seadrift Operations span 4,700 acres and produce more than 4 billion pounds of materials annually for applications including food packaging, footwear, wire and cable insulation, solar cell components, and medical and pharmaceutical packaging.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s nearly 23,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $15.5 billion in 2025 and is ranked 257 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement, construction and maintenance services for more than a century. For more information, please visit www.fluor.com or follow Fluor on Facebook, Instagram, LinkedIn, X and YouTube.
#EnergySolutions
View source version on businesswire.com: https://www.businesswire.com/news/home/20260406314695/en/
Brett Turner
Media Relations
864.281.6976
Jason Landkamer
Investor Relations
469.398.7222
Original: Fluor Signs Contract With X-Energy for Advanced Nuclear Project in Texas
US Market News
4月前
Fluor Expands European Footprint with Office in Bucharest to Advance Next-Generation Nuclear Energy ProjectsMarch 12, 2026 11:50 AM
Business Wire
Fluor Corporation (NYSE: FLR) celebrated the opening of its newest European office in Bucharest, Romania, yesterday. United States and Romanian government officials, industry leaders, and project partners joined Fluor executives and employees at the new office, located at the Avantgarde Office Building, to commemorate the event.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260312250163/en/(l-r) Alejandro Escalona, Fluor Senior VP, Energy Solutions Group Lead Business Development and Strategy; Pedro Garcia, VP, Director of Fluor’s SMR Doicesti project; David Marventano, Fluor Senior VP of Government Relations; Darryl Nirenberg, U.S. Ambassador to Romania; Bogdan Ivan, Energy Minister of Romania; Cosmin Ghita, CEO of Nuclearelectrica; Menko Ubbens, Senior VP, Director of Fluor’s Cernavoda project. Fluor’s office opening was the Ambassador's first public event in Romania.
The new office will serve as a hub to enhance the company’s capacity to deliver advanced nuclear energy projects across the region.
“Opening an office in Bucharest reinforces Fluor’s long-term commitment to supporting Romania as it expands access to clean, reliable nuclear power,” said Pierre Bechelany, Fluor’s Business Group President of Energy Solutions. “Romania has operated nuclear power plants for four decades and our work to support the expansion of nuclear baseload power will help Romania achieve its future clean energy, economic and manufacturing goals.”
“The United States is committed to supporting Romania’s efforts to further develop safe, secure and sustainable nuclear power,” said Darryl Nirenberg, United States Ambassador to Romania. “Fluor is bringing American world-class innovation and excellence to Romania to help achieve President Trump’s goal of energy security and abundance.”
Fluor holds a significant role in Romania’s nuclear energy development, providing engineering, design, licensing and project management services for two major initiatives: the advanced small modular reactor (SMR) project in Doice?ti and the expansion of the existing Cernavoda nuclear power plant.
“Bucharest offers strategic advantages for Fluor’s continued growth in the region,” said Bechelany. “Its proximity to two major nuclear projects, an experienced nuclear regulator, combined with access to a highly skilled workforce and strong academic institutions, positions us to expand our project execution capabilities and support Romania’s long-term energy goals.”
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s nearly 23,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $15.5 billion in 2025 and is ranked 257 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement, construction and maintenance services for more than a century. For more information, please visit www.fluor.com or follow Fluor on Facebook, Instagram, LinkedIn, X and YouTube.
#EnergySolutions
View source version on businesswire.com: https://www.businesswire.com/news/home/20260312250163/en/
Brett Turner
Media Relations
864.281.6976
Jason Landkamer
Investor Relations
469.398.7222
Original: Fluor Expands European Footprint with Office in Bucharest to Advance Next-Generation Nuclear Energy Projects
US Market News
4月前
Fluor Announces Retirement of Executive Chairman, David E. Constable, and Appointment of James T. (Jim) Hackett as Chairman of the BoardMarch 9, 2026 6:50 AM
Business Wire
Fluor Corporation (NYSE: FLR) today announced that David E. Constable, Executive Chairman, will step down from the Board of Directors following the Annual Shareholders Meeting on May 6, 2026. James T. (Jim) Hackett, the company’s Lead Independent Director, will assume the role of Chairman of the Board on May 5, 2026.
Constable’s connection to Fluor spans 44 years. He began his career with the company in 1982, advancing through a series of global leadership roles that shaped Fluor’s operational and commercial capabilities. After joining the Fluor Board in 2019, he chaired the Commercial Strategies and Operational Risk Committee, later becoming Chief Executive Officer (CEO) in 2021 and Chairman of the Board in 2022. He stepped down as CEO and transitioned into the role of Executive Chairman in 2025. His tenure is credited with reinforcing the financial foundation of the company and restoring confidence among clients, employees, partners and shareholders.
Constable also brought external executive experience to the Board. He served as CEO and Executive Director of Sasol from 2011 to 2016 and has held board positions with Anadarko and Rio Tinto, while continuing to serve as a board member at ABB, contributing a broad perspective on global industrial and energy markets.
“Serving Fluor’s employees, clients, and shareholders throughout my career has been one of my greatest honors,” Constable said. “With Fluor on a strong trajectory – financially, operationally, and strategically – the timing is right for my retirement. I am deeply grateful to the Board, leadership team, and my colleagues around the world for their support, and I look forward to watching Fluor continue to excel under Jim’s chairmanship.”
Hackett brings extensive governance experience and a deep knowledge of global markets. He has served as Director on Fluor’s Board since 2016, with former Board service from 2001 to 2015, and was appointed Lead Independent Director in 2025 as part of the Board’s commitment to strong independent oversight. His background includes senior leadership roles across the energy industry and prior service as Chairman of the Federal Reserve Bank of Dallas. He currently sits on the boards of Enterprise Products Holdings, LLC and SLB (formerly Schlumberger Limited).
“I am honored to take on the role of Chairman at this important time in Fluor’s evolution,” said Hackett. “David’s steady leadership has strengthened the company, rebuilt confidence among stakeholders, and positioned Fluor for long-term success. His discipline, integrity, and unwavering commitment to excellence leave a powerful legacy. I look forward to working closely with my fellow directors and the management team to build on that momentum and continue delivering value for the company’s clients, employees, and shareholders.”
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s nearly 23,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $15.5 billion in 2025 and is ranked 257 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement, construction and maintenance services for more than a century. For more information, please visit www.fluor.com or follow Fluor on Facebook, Instagram, LinkedIn, X and YouTube.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260309191761/en/
Brett Turner
Media Relations
864.281.6976 tel
Jason Landkamer
Investor Relations
469.398.7222 tel
Original: Fluor Announces Retirement of Executive Chairman, David E. Constable, and Appointment of James T. (Jim) Hackett as Chairman of the Board
US Market News
4月前
Fluor Announces Appointment of Robert G. (Bob) Card to its Board of DirectorsMarch 9, 2026 6:51 AM
Business Wire
Fluor Corporation (NYSE: FLR) announced today that Robert G. (Bob) Card, former President and CEO of SNC-Lavalin and a seasoned global engineering and construction executive, has been elected to its Board of Directors effective March 4, 2026. Card will serve on the Board’s Audit Committee and Commercial Strategies and Operational Risk Committee.
Card’s appointment brings the total number of Fluor Board members to 12 of whom 10 are independent. With more than three decades of top-level management experience across public and private sectors, he contributes broad industry, operational and government expertise.
“Bob Card’s extensive leadership across the engineering, construction and project development landscape, combined with his significant public-sector experience, brings valuable insight to Fluor as we continue executing our strategy for long-term growth,” said David E. Constable, Executive Chairman of Fluor. “His track record guiding major global firms, along with his understanding of the markets and geographies central to our business, will be instrumental as we advance our pipeline of opportunities across the energy, infrastructure, advanced manufacturing, mining and life sciences sectors.”
Card previously served as President and CEO of SNC-Lavalin from 2012 to 2015 and held senior leadership roles at CH2M (formerly CH2M Hill), including President of its Energy, Water & Facilities Divisions. Earlier in his career, he served as Under Secretary of Energy at the U.S. Department of Energy from 2001 to 2004, overseeing major national programs in energy, science, environment, and nuclear waste management.
Beyond these roles, Card also brings substantial large-scale program and international experience. He led CH2M’s Transportation, Nuclear, Environmental, Government and International divisions; served as the deputy program manager for the successful $15 billion London 2012 Olympics; and managed the award-winning decommissioning of the Rocky Flats Nuclear Weapons Plant. He has been recognized with national honors, including the Energy Secretary’s Gold Award.
Card has served on multiple industry boards, including Westinghouse Electric, AECOM, Ardurra, AMEC Foster Wheeler and Longenecker & Associates, providing governance leadership across the engineering, construction, nuclear and energy sectors. His background provides Fluor’s Board with a seasoned perspective on industry dynamics, operational risk management and government-related initiatives.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s nearly 23,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $15.5 billion in 2025 and is ranked 257 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement, construction and maintenance services for more than a century. For more information, please visit www.fluor.com or follow Fluor on Facebook, Instagram, LinkedIn, X and YouTube.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260309102505/en/
Brett Turner
Media Relations
864.281.6976 tel
Jason Landkamer
Investor Relations
469.398.7222 tel
Original: Fluor Announces Appointment of Robert G. (Bob) Card to its Board of Directors
US Market News
5月前
Fluor Reports Fourth Quarter and Full Year 2025 ResultsFebruary 17, 2026 6:50 AM
Business Wire
Full year 2025 share repurchases of $754 million; $1.4 billion planned for 2026
Full year new awards of $12.0 billion; 87% reimbursable
Ending Backlog of $25.5 billion; 81% reimbursable
Received $1.35 billion in Q1 2026 for NuScale share sales
Fluor Corporation (NYSE: FLR) announced financial results for its year ended December 31, 2025.
“Our growing confidence in capturing significant EPC awards in 2026 and into 2027 is supported by an improving capital spending environment and increasing client commitments,” said Jim Breuer, chief executive officer of Fluor. “Furthermore, I am pleased that the monetization of our NuScale investment is progressing well and that we are returning significant value to our shareholders. We are confident that our diversified portfolio and strong capital position will support the delivery of our growth strategy.”
Full Year 2025 Highlights[1]:
Revenue of $15.5 billion
GAAP net loss attributable to Fluor of $51 million
Adjusted EBITDA[2] of $504 million
EPS of ($0.31); adjusted EPS[2] of $2.19
Consolidated segment loss[2] of $109 million
Cash and marketable securities at the end of the year of $2.2 billion
G&A expenses of $196 million, down 3% y/y
Operating Cash Flow: ($387) million vs $828 million y/y
Capital Allocation: $754 million expended in 2025 to repurchase 18 million shares; $37 million in debt retirements
NuScale: Received proceeds of $605 million in 2025 and an additional $1.35 billion in Q1 of 2026; Anticipate full monetization of investment by end of Q2 2026
New Awards: New awards totaled $12.0 billion, reflects delayed timing of Energy Solutions and Mission Solutions awards; 87% reimbursable
Backlog: $25.5 billion at 81% reimbursable; includes positive backlog adjustments of $941 million
[1] Results reflect $643 million adverse Santos ruling.
[2] Non-GAAP Financial Measure. See “Non-GAAP Financial Measures” for additional information.
“Our capital allocation strategy is directly aligned with Fluor’s growth priorities and our commitment to deliver shareholder value,” said John Regan, chief financial officer of Fluor. “In 2025, we returned substantial capital while maintaining a strong liquidity position. With the continued monetization of our NuScale investment, we have enhanced financial flexibility to drive organic growth, M&A opportunities that advance our strategic objectives, and continued repurchases.”
Fourth Quarter Results
Fourth quarter 2025 results include net loss attributable to Fluor of $1.6 billion, or ($9.87) per diluted share, compared to net earnings attributable to Fluor of $1.9 billion, or $10.57 per diluted share in the fourth quarter of 2024. Results for the quarter reflect a net $2 billion reduction in the valuation of our investment in NuScale.
Revenue for the quarter was $4.2 billion compared to $4.3 billion a year ago. Consolidated segment profit for the fourth quarter of 2025 totaled $120 million compared to $206 million a year ago. Results reflect $30 million in cost growth on projects in our legacy infrastructure portfolio, and additional recognition of reserves on a DOD project. G&A expenses in the fourth quarter were $65 million, similar to last year. New awards for the quarter were $1.1 billion compared to $2.3 billion in 2024.
Including the adjustments outlined in the reconciliation table at the end of this release, the company recognized adjusted EBITDA of $91 million and adjusted EPS of $0.33 for the fourth quarter of 2025.
Outlook
Consistent with prior practice, we are not providing forward-looking guidance for U.S. GAAP net earnings or U.S. GAAP earnings per share, or a quantitative reconciliation of adjusted EBITDA or adjusted EPS guidance, because we are unable to predict with reasonable certainty all of the components required to provide such reconciliation without unreasonable efforts, which are uncertain and could have a material impact on GAAP reported results for the guidance period. See “Non-GAAP Financial Measures” for additional information.
In consideration of the expected timing of new awards and the pace of execution on the existing backlog, we are establishing adjusted EBITDA guidance for 2026 of $525 million to $585 million.
Adjusted EBITDA guidance exclude items similar to those outlined in the reconciliation table at the end of this release.
Business Segments
Urban Solutions profit was $205 million in 2025 compared to $304 million in 2024. Full year revenue for the segment increased to $9.2 billion compared to $7.2 billion a year ago. Results for the year reflect cost growth on legacy projects of $108 million, partially offset by improved performance on other infrastructure projects. New awards for 2025 were $8.7 billion, compared to $9.5 billion in 2024. This marks the third year in a row of new awards in the $9 billion dollar range with an ending backlog of $18.7 billion, up from $17.7 billion a year ago.
Energy Solutions reported a loss of $414 million in 2025 compared to a profit of $256 million in 2024. Revenue for 2025 was $3.6 billion, down from $6.0 billion in the previous year. Revenue and segment results reflect the reversal of $643 million in previously recognized revenue associated with a judgment on the completed Santos project in Australia, as well as lower execution activity on Energy Solutions projects nearing completion. We accrued for the expected effects of the Santos judgment in Q3 and funded to the client in Q4. Full year new awards in 2025 totaled $1.4 billion, compared to $3.2 billion in 2024. Awards for the year were primarily related to higher margin engineering services work that will enable larger EPC awards in the next two years. Ending backlog was $4.6 billion compared to $7.6 billion a year ago.
Mission Solutions profit was $94 million in 2025 compared to $153 million a year ago. Full year’s revenue for the segment of $2.7 billion was comparable to last year. 2025 segment results reflect the impact of both the recognition of reserves on a DOD project plus the previously disclosed Q1 ruling which combined totaled $60 million. Full year new awards in 2025 were $1.8 billion, consistent with 2024. Ending backlog was $2.2 billion compared to $2.7 billion a year ago.
Conference Call
Fluor will host a conference call at 8:30 a.m. Eastern on Tuesday, February 17, 2026 which will be webcast live and can be accessed by logging onto investor.fluor.com. The call will also be accessible by telephone at 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.
Non-GAAP Financial Measures
This news release contains discussions of consolidated segment profit (loss) and margin, adjusted net earnings, adjusted EPS and adjusted EBITDA that are non-GAAP financial measures under SEC rules. Segment profit (loss) is calculated as revenue less cost of revenue and earnings (loss) attributable to noncontrolling interests. The company believes that segment profit (loss) provides a meaningful perspective on its business results as it is the aggregation of individual segment profit measures that the company utilizes to evaluate and manage its business performance. Adjusted net earnings is defined as net earnings (loss) from core operations excluding equity method earnings (loss) and the impacts of foreign exchange fluctuations, impairments and certain items that management believes are unrelated to actual normalized operational performance. Net earnings (loss) from core operations is net earnings (loss) attributable to Fluor excluding the results of our now-divested Stork and AMECO equipment businesses. Adjusted EPS is defined as adjusted net earnings divided by weighted average diluted shares outstanding. Adjusted EBITDA is defined as net earnings (loss) from operations before interest, income taxes, depreciation and amortization (EBITDA), further adjusted by the same items excluded from adjusted net earnings. The company believes adjusted net earnings, adjusted EPS and adjusted EBITDA allow investors to evaluate the company’s ongoing earnings on a normalized basis and make meaningful period-over-period comparisons. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation from or a substitute for measures of financial performance prepared in accordance with U.S. GAAP. In addition, these non-GAAP measures are not necessarily comparable to similarly titled measures reported by other companies. Reconciliations of consolidated segment profit (loss), adjusted net earnings, adjusted EPS and adjusted EBITDA to the most comparable GAAP measures are included in the press release tables. The company is unable to provide a reconciliation of its adjusted EPS and adjusted EBITDA guidance to the most comparable GAAP measure without unreasonable efforts because it is unable to predict with reasonable certainty all of the components required to provide such reconciliation, including the impact of foreign exchange fluctuations, which are uncertain and could have a material impact on GAAP reported results for the guidance period.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s nearly 23,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $15.5 billion in 2025 and is ranked 257 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement, construction and maintenance services for more than a century. For more information, please visit www.fluor.com or follow Fluor on Facebook, Instagram, LinkedIn, X and YouTube.
Forward-Looking Statements: This release may contain forward-looking statements (including without limitation statements to the effect that the Company or its management "will," "believes," "expects," “anticipates,” "plans" or other similar expressions). These forward-looking statements, including statements relating to strategic and operation plans, plans related to our NuScale investment, future growth, new awards, backlog, earnings, capital allocation plans and the outlook for the company’s business.
Actual results may differ materially as a result of a number of factors, including, among other things, the cyclical nature of many of the markets the Company serves and our clients’ vulnerability to poor economic conditions, such as inflation, slow growth or recession, which may result in decreased capital investment and reduced demand for our services; the Company's failure to receive new contract awards; cost overruns, project delays or other problems arising from project execution activities, including the failure to meet cost and schedule estimates; intense competition in the industries in which we operate; the inability to hire and retain qualified personnel; failure of our joint venture or other partners to perform their obligations; the failure of our suppliers, subcontractors and other third parties to adequately perform services under our contracts; cyber-security breaches; possible information technology interruptions; risks related to the use of artificial intelligence and similar technologies; exposure to political and economic risks in different countries, including tariffs and trade policies, geopolitical events and conflicts, civil unrest, security issues, labor conditions and other foreign economic and political uncertainties in the countries in which we do business; the impact of government shutdowns and spending cuts, in particular with respect to our contracts with the U.S. government; client cancellations of, or scope adjustments to, existing contracts; failure to maintain safe worksites and international security risks; risks or uncertainties associated with events outside of our control, including weather conditions, pandemics, public health crises, political crises or other catastrophic events; the use of estimates in preparing our financial statements; GAAP earnings volatility due to recurring fair value measurements of our investment in NuScale; client delays or defaults in making payments; uncertainties, restrictions and regulations impacting our government contracts; the potential impact of certain tax matters; the Company's ability to secure appropriate insurance; liabilities associated with the performance of nuclear services; foreign currency risks; the loss of one or a few clients that account for a significant portion of the Company's revenues; failure to adequately protect intellectual property rights; climate change, natural disasters and related environmental issues; increasing scrutiny with respect to sustainability practices; risks related to our indebtedness; the availability of credit and restrictions imposed by credit facilities, both for the Company and our clients, suppliers, subcontractors or other partners; restrictive covenants contained in the agreements governing our debt; possible limitations on bonding or letter of credit capacity; failure to obtain favorable results in existing or future litigation and regulatory proceedings, dispute resolution proceedings or claims, including claims for additional costs; failure by us or our employees, agents or partners to comply with laws; new or changing legal requirements, including those relating to environmental, health and safety matters; and restrictions on possible transactions imposed by our charter documents and Delaware law. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, the Company’s results may differ materially from its expectations and projections.
Additional information concerning these and other factors can be found in the Company's public periodic filings with the Securities and Exchange Commission, including the discussion under the heading "Item 1A. Risk Factors" in the Company's Form 10-K filed on February 18, 2025. Such filings are available either publicly or upon request from Fluor's Investor Relations Department: (469) 398-7222. The Company disclaims any intent or obligation other than as required by law to update its forward-looking statements in light of new information or future events.
SUMMARY OF FINANCIALS AND U.S. GAAP RECONCILIATION OF CONSOLIDATED SEGMENT PROFIT (LOSS)
Three Months Ended
December 31,
Year Ended
December 31,
(in millions)
2025
2024
2025
2024
Revenue
Urban Solutions
$
2,630
$
1,999
$
9,200
$
7,239
Energy Solutions
943
1,520
3,554
5,976
Mission Solutions
600
654
2,720
2,594
Other
2
87
29
506
Total revenue
$
4,175
$
4,260
$
15,503
$
16,315
Segment profit (loss) $ and margin %
Urban Solutions
$
44
1.7%
$
81
4.1%
$
205
2.2%
$
304
4.2%
Energy Solutions
56
5.9%
63
4.1%
(414
)
NM
256
4.3%
Mission Solutions
21
3.5%
45
6.9%
94
3.5%
153
5.9%
Other
(1
)
NM
17
NM
6
NM
(78
)
NM
Total segment profit (loss) $ and margin %
$
120
2.9%
$
206
4.8%
$
(109
)
(0.7)%
$
635
3.9%
G&A
(65
)
(55
)
(196
)
(203
)
Foreign currency gain (loss)
(15
)
34
(62
)
92
Interest income (expense), net
19
35
67
150
Earnings (loss) attributable to NCI
12
3
(11
)
(61
)
Earnings (loss) before taxes
71
223
(311
)
613
Income tax benefit (expense) (1)
575
(463
)
39
(634
)
Net earnings (loss) before equity method earnings (loss)
646
(240
)
(272
)
(21
)
Equity method earnings (loss)
(2,208
)
2,105
210
2,105
Net earnings (loss)
(1,562
)
1,865
(62
)
2,084
Less: Net earnings (loss) attributable to NCI
12
3
(11
)
(61
)
Net earnings (loss) attributable to Fluor
$
(1,574
)
$
1,862
$
(51
)
$
2,145
New awards
Urban Solutions
$
742
$
1,376
$
8,688
$
9,493
Energy Solutions
336
406
1,421
3,246
Mission Solutions
49
429
1,847
1,910
Other
—
97
—
474
Total new awards
$
1,127
$
2,308
$
11,956
$
15,123
New awards related to projects located outside of the U.S.
60%
47%
26%
38%
(1) Income tax benefits included $546 million and $92 million attributable to equity method earnings (loss) during the three and twelve months ended December 31, 2025, respectively, and an income tax expenses of $(376) million for the three and twelve months ended December 31, 2024.
(in millions)
December 31,
2025
December 31,
2024
Backlog
Urban Solutions
$
18,746
$
17,749
Energy Solutions
4,601
7,605
Mission Solutions
2,189
2,727
Other
—
403
Total backlog
$
25,536
$
28,484
Backlog related to projects located outside of the U.S.
40%
55%
Backlog related to reimbursable projects
81%
79%
SUMMARY OF CASH FLOW INFORMATION
Year Ended
December 31,
(in millions)
2025
2024
OPERATING CASH FLOW (1)
$
(387
)
$
828
INVESTING CASH FLOW
Proceeds from the sale of NuScale shares
605
—
Proceeds from sales and maturities (purchases) of marketable securities
75
(60
)
Capital expenditures
(50
)
(164
)
NuScale cash deconsolidated
—
(131
)
Proceeds from sales of assets (net of cash divested)
63
82
Investments in partnerships and joint ventures (2)
(278
)
(93
)
Return of capital from partnerships and joint ventures
22
34
Other
—
(1
)
Investing cash flow
437
(333
)
FINANCING CASH FLOW
Repurchase of common stock
(754
)
(125
)
Purchases and retirement of debt
(37
)
(57
)
Proceeds from NuScale share issuance (net of issuance fees)
—
80
Distributions paid to NCI
(64
)
(14
)
Capital contributions by NCI
65
—
Other
(7
)
—
Financing cash flow
(797
)
(116
)
Effect of exchange rate changes on cash
53
(69
)
Increase (decrease) in cash and cash equivalents
(694
)
310
Cash and cash equivalents at beginning of period
2,829
2,519
Cash and cash equivalents at end of period
$
2,135
$
2,829
Cash paid during the period for:
Interest
$
40
$
42
Income taxes (net of refunds)
213
13
(1)
Operating cash flow in 2025 included a payment of $642 million to Santos, net of insurance recoveries, for a judgment over their efforts to recover costs related to a reimbursable project completed by us in 2015
(2)
Includes $158 million for funding of consolidated project losses.
RECONCILIATION OF U.S. GAAP NET EARNINGS (LOSS) ATTRIBUTABLE TO FLUOR TO ADJUSTED NET EARNINGS AND U.S. GAAP EARNINGS PER SHARE TO ADJUSTED EARNINGS PER SHARE
Three Months Ended
December 31,
Year Ended
December 31,
(In millions, except per share amounts)
2025
2024
2025
2024
Net earnings (loss) attributable to Fluor
$
(1,574
)
$
1,862
$
(51
)
$
2,145
Exclude: Stork & AMECO businesses (now divested)
1
(19
)
(8
)
(4
)
Net earnings (loss) from core operations (1)
(1,573
)
1,843
(59
)
2,141
Adjustments: (2)
Equity method earnings (loss)
$
2,208
$
(2,105
)
$
(210
)
$
(2,105
)
Santos ruling
(10
)
—
643
—
NuScale expenses
—
—
—
95
Legacy environmental legal matters
17
—
17
—
Favorable judgment on a Mission Solutions weapons project
—
—
(15
)
—
Favorable negotiation on an Urban Solutions infrastructure project
—
—
(12
)
—
Impact of litigation on completed projects (3)
—
—
56
—
Impact of bad debt reserves taken for a long-completed project
—
—
22
—
Severance and other exit costs
15
—
37
—
Reserve for legacy legal claims
—
—
4
—
Embedded foreign currency derivative (gain)/loss
(3
)
1
(3
)
(46
)
Foreign currency (gain)/loss
15
(34
)
62
(92
)
Tax expense on above items
(616
)
379
(181
)
412
Adjusted Net Earnings
$
53
$
84
$
361
$
405
Diluted EPS
$
(9.87
)
$
10.57
$
(0.31
)
$
12.30
Adjusted EPS
$
0.33
$
0.48
$
2.19
$
2.32
(1) Core operations excludes the results of our now-divested Stork and AMECO businesses.
(2) We exclude earnings impacts for litigation outcomes, claims, settlements or associated damages from adjusted earnings when they are significant in magnitude, non-routine and do not represent on-going normal operations.
(3) Reflects the impact of an arbitration ruling on a fabrication project at our Energy Solutions joint venture in Mexico, as well as the impact of a Q1 ruling on a long-standing claim on a Mission Solutions project completed in 2019.
RECONCILIATION OF U.S. GAAP NET EARNINGS (LOSS) ATTRIBUTABLE TO FLUOR TO ADJUSTED EBITDA
Three Months Ended December 31,
Year Ended
December 31,
(in millions)
2025
2024
2025
2024
Net earnings (loss) attributable to Fluor
$
(1,574
)
$
1,862
$
(51
)
$
2,145
Interest income, net
(19
)
(35
)
(67
)
(150
)
Tax (benefit) expense
(575
)
463
(39
)
634
Equity method earnings (loss)
2,208
(2,105
)
(210
)
(2,105
)
Depreciation & amortization
16
20
68
73
EBITDA
$
56
$
205
$
(299
)
$
597
Adjustments: (1)
Stork & AMECO businesses (now divested)
$
1
$
(18
)
$
(8
)
$
(24
)
Santos ruling
(10
)
—
643
—
NuScale expenses
—
—
—
95
Legacy environmental legal matters
17
—
17
—
Favorable judgment on a Mission Solutions weapons project
—
—
(15
)
—
Favorable negotiation on an Urban Solutions infrastructure project
—
—
(12
)
—
Impact of litigation on completed projects (2)
—
—
56
—
Impact of bad debt reserves taken for a long-completed project
—
—
22
—
Severance and other exit costs
15
—
37
—
Reserve for legacy legal claims
—
—
4
—
Embedded foreign currency derivative (gain)/loss
(3
)
1
(3
)
(46
)
G&A: Foreign currency (gain)/loss
15
(34
)
62
(92
)
Adjusted EBITDA
$
91
$
154
$
504
$
530
(1) We exclude earnings impacts for litigation outcomes, claims, settlements or associated damages from adjusted earnings when they are significant in magnitude, non-routine and do not represent on-going normal operations.
(2) Reflects the impact of an arbitration ruling on a fabrication project at our Energy Solutions joint venture in Mexico, as well as the impact of a Q1 ruling on a long-standing claim on a Mission Solutions project completed in 2019.
#corp
View source version on businesswire.com: https://www.businesswire.com/news/home/20260217133638/en/
Brett Turner
Media Relations
864.281.6976 tel
Jason Landkamer
Investor Relations
469.398.7222 tel
Original: Fluor Reports Fourth Quarter and Full Year 2025 Results
US Market News
5月前
Centrus and Fluor Partner to Advance Major Expansion of Ohio Uranium Enrichment PlantFebruary 11, 2026 6:41 AM
PR Newswire (US)
Strategic partnership with best-in-class EPC demonstrates Centrus' commitment to operational excellenceBETHESDA, Md., Feb. 11, 2026 /PRNewswire/ -- Centrus Energy (NYSE: LEU) today announced that its subsidiary, American Centrifuge Operating, LLC, has agreed to a strategic collaboration with Fluor (NYSE: FLR) to serve as its Engineering, Procurement and Construction (EPC) contractor as Centrus proceeds with its previously announced multi-billion-dollar expansion of its uranium enrichment capacity in Piketon, Ohio.
"This is another critical milestone for us as we begin our expansion in earnest," said Centrus President and CEO Amir Vexler. "Fluor is a global leader with decades of experience managing complex nuclear construction projects and is an ideal partner as we transition to a large-scale deployment. With centrifuge manufacturing already underway, we are moving full-speed ahead with our expansion.""The addition of Fluor's extensive experience in launching and supporting large-scale, complex, industrial build outs will empower our major expansion in Ohio," said Centrus Senior Vice President, Field Operations Patrick Brown. "We look forward to this collaborative effort and the opportunities working with a best-in-class EPC will afford Centrus going forward.""We are proud of our long-term relationship with Centrus and are honored to be partnering with them on a project of profound importance to our energy security and national security," said Al Collins, Business Group President, Mission Solutions. "We look forward to working with Centrus to restore the United States' ability to enrich uranium at large-scale while fortifying its supply chain and creating local jobs."Under the multi-year contract, Fluor will lead engineering and design of the expanded capacity in Ohio, manage the supply chain and procurement of key materials and services, oversee construction at the site, and support the commissioning of the new capacity.The expansion project includes large-scale production of Low-Enriched Uranium (LEU) to address its substantial commercial LEU enrichment contingent backlog of $2.3 billion and growing demand from existing reactors. The company also recently announced that it is planning on building 12 metric tons of High-Assay, Low-Enriched Uranium (HALEU) annual capacity for next-generation reactors. In addition, Centrus is the only production-ready option for national security missions and was recently notified by the National Nuclear Security Administration of its intent to sole source certain uranium enrichment activities from Centrus.In December 2025, Centrus launched centrifuge manufacturing to support this expansion, and in early January 2026 the Department of Energy selected Centrus for a $900 million HALEU task order. Later in January, Centrus announced that it is investing more than $560 million to transition its advanced centrifuge factory in Oak Ridge, Tennessee, to high-rate manufacturing. About CentrusCentrus Energy is a trusted American supplier of nuclear fuel and services for the nuclear power industry, helping meet the growing need for clean, affordable, carbon-free energy. Since 1998, the Company has provided its utility customers with more than 1,850 reactor years of fuel, which is equivalent to more than 7 billion tons of coal.With world-class technical and engineering capabilities,?Centrus?is pioneering production of High-Assay, Low-Enriched Uranium and is leading the effort to restore America's uranium enrichment capabilities at scale so that we can meet our clean energy, energy security, and national security needs. Find out more at?www.centrusenergy.com or follow us on LinkedIn and X.Forward Looking StatementsThis news release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as "expects", "anticipates", "intends", "plans", "believes", "will", "should", "could", "would" or "may" and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions with respect to future events and operational, economic and financial performance. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control.For Centrus Energy Corp., particular factors that involve uncertainty and could cause our actual future results to differ materially from those expressed in our forward-looking statements and which are, and may be, exacerbated by any worsening of the global business and economic environment include but are not limited to the following: the war in Ukraine and other geopolitical conflicts; restrictions on imports and exports, including those imposed under the RSA, and related international trade legislation; our government contracts, including related to changes to the U.S. government's appropriated funding levels for HALEU and the government's inability to satisfy its obligations, our lease to our facility in Piketon, Ohio, and our receipt of additional task orders under the HALEU Production Contract, LEU Production Contract and HALEU Deconversion Contract and, if awarded, the nature, timing and amount thereof; whether or when government demand for HALEU or LEU for government or commercial uses will materialize and at what level; the impact and potential extended duration of a supply/demand imbalance in the market for LEU; significant competition from major LEU producers, including foreign competitors, who may be less cost sensitive then we are; limitations on our ability to compete in foreign markets; pricing trends and demand in the uranium and enrichment markets, especially in light of the potential of limited supply and our dependence on others for deliveries of LEU; and our ability to successfully implement our planned expansion projects in Piketon, Ohio and Oak Ridge, Tennessee.Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. Readers are urged to carefully review and consider the various disclosures made in this news release and in our filings with the SEC, including our most recent Annual Report on Form 10-K, under Part II, Item 1A - "Risk Factors" in our subsequent Quarterly Reports on Form 10-Q, and in our other filings with the SEC that attempt to advise interested parties of the risks and factors that may affect our business. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.Contacts:
Investors:?Neal Nagarajan?NagarajanNK@centrusenergy.com
Media:?Dan Leistikow?LeistikowD@centrusenergy.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/centrus-and-fluor-partner-to-advance-major-expansion-of-ohio-uranium-enrichment-plant-302685029.htmlSOURCE Centrus Energy Corp.
Original: Centrus and Fluor Partner to Advance Major Expansion of Ohio Uranium Enrichment Plant
Captainandy
5年前
#FLR: Fluor Corporation Announces Leadership Transition..:-}
https://www.fluor.com/
https://twitter.com/fluorcorp
https://www.facebook.com/FluorCorp/
Alan Boeckmann, executive chairman of the Board. ...:-}
https://marketwirenews.com/news-releases/fluor-corporation-announces-leadership-transition-7886828553566261.html?i=ib
David E. Constable Appointed Chief Executive Officer, Effective January 1, 2021
Carlos Hernandez to Retire at Year-End 2020
Fluor Corporation (NYSE: FLR) announced today that David E. Constable, a member of the Fluor Board of Directors, has been appointed chief executive officer (CEO), effective January 1, 2021. Constable succeeds Carlos Hernandez, who will retire as CEO and a member of the company’s Board at the end of the year.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201102005505/en/
David E. Constable Appointed Chief Executive Officer of Fluor Corporation, Effective January 1, 2021 (Photo: Business Wire)
Constable is a versatile executive with significant international experience and a proven track record of driving growth and value creation across multiple industries. He brings 30 years of insight to Fluor’s business, strategy and operations, having held various leadership roles within the company from 1982 to 2011, before returning as a Board member in 2019. From 2011 to 2016, Constable served as CEO of Sasol Ltd, where he executed a comprehensive change program and implemented a new operating model focused on enhancing growth across the organization.
“We are pleased to appoint David, a proven executive with a deep understanding of our operations and opportunities, as Fluor’s next CEO,” said Alan Boeckmann, executive chairman of the Board. “This leadership transition is the result of the Board’s long-term succession planning process and follows a comprehensive external search. David brings a unique combination of deep insight to Fluor and an outside perspective from his prior experience as CEO of Sasol. His successful history of leading integrated global operations with a focus on effective risk management makes him ideally positioned to lead Fluor. I have had the opportunity to work closely with David over the last 25 years, both on the Fluor Board and as a member of the management team, and can personally attest to his unparalleled understanding of our business and dedication to our company. Our Board is confident David is the right person to shape and lead the company’s transformation strategy, which will enable us to achieve our full potential.”
Boeckmann continued, “On behalf of the Board and the management team, I thank Carlos for his 13 years of leadership and many contributions to Fluor. As CEO, Carlos played an integral role setting Fluor on the path to restore confidence in our financial reporting. He oversaw our 2019 strategic review, which focused on lowering our risk profile and strengthening our balance sheet, and helped establish a culture of teamwork and transparency, laying the groundwork for Fluor’s future success. We are grateful to have had an executive of Carlos’s caliber step in to lead the company over this critical period. As a result, Fluor is on the right track and we are well prepared to enter a new chapter. We are grateful for his service to our company.”
“It has been an honor to serve as CEO of Fluor over the last year and a half, and a member of this great team for over a decade,” Hernandez said. “While it has been a challenging time for Fluor, we have made significant progress conducting our strategic review, strengthening our operations and completing the restatement of our financial results. Particularly, with the onset of the COVID-19 pandemic, I am proud of how our team adapted to the dynamic environment, remained focused on our objectives and continued delivering for our customers and shareholders. Given the strength of our team and the momentum underway, the Board and I are confident that now is the right time to welcome new leadership to Fluor, and that the company is well positioned for the next phase of growth under David.”
“I am excited to rejoin such a great company and am honored to be leading Fluor during this important time in its history,” said Constable. “Since first joining Fluor in 1982 and returning again as a Board member last year, I have seen firsthand the team’s hard work and commitment to improving the business and delivering for our customers. Given my role on the Board, I am confident we will have a smooth transition. Fluor has a unique value proposition, strong industry position and the right talent to enable us to capitalize on the opportunities ahead and enhance value for all stakeholders.”
Constable and the Fluor leadership team will hold a business update conference call with the investment community in mid-January to share details on the company’s transformation strategy.
About David E. Constable
Constable has served as a director on the Fluor Board since 2019, and is chair of the Commercial Strategies and Operational Risk Committee, and a member of the Executive and Governance Committees. He was the president and chief executive officer of Sasol Limited from 2011 to 2016, where he drove a comprehensive group-wide change program, which culminated in the roll-out of the organization’s new operating model and its related structures, systems and processes. Prior to joining Sasol, Constable held various roles with Fluor from 1982 to 2011, most recently as group president, Operations, where he was responsible for the multi-functional entity that served Fluor’s core business groups. He was also responsible for a number of businesses at Fluor.
Constable is a member of the ABB Ltd. board, and serves as a director on the Rio Tinto plc and Rio Tinto Ltd. boards. He previously served on the board of Anadarko Petroleum Corporation from 2016 until its merger with Occidental Petroleum in 2019.
Constable graduated from the University of Alberta with a bachelor’s in Engineering and is a registered professional engineer. He is a graduate of Thunderbird University’s International Management Program and Wharton Business School’s Advanced Management Program.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is a global engineering, procurement, fabrication, construction and maintenance company with projects and offices on six continents. Fluor’s 45,000 employees build a better world and provide sustainable solutions by designing, building and maintaining safe, well executed projects. Fluor had revenue of $17.3 billion in 2019 and is ranked 181 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has served its clients for more than 100 years. For more information, please visit www.fluor.com or follow Fluor on Twitter , LinkedIn , Facebook and YouTube .
#corp
View source version on businesswire.com: https://www.businesswire.com/news/home/20201102005505/en/
Brian Mershon
Media Relations
469.398.7621 tel
Jason Landkamer
Investor Relations
469.398.7222 tel
Hot Features
プレミアム
登録してリアルタイムのアラート、カスタムポートフォリオ、市場の動きを入手してください。
iHub News
2月前
Monksdream
1年前
kegun
2年前
peterquinnvet
4年前
JohnLocke101
5年前
#NeverPennyLand
5年前
cuckoo 4 cocoa puffs
5年前
whytestocks
6年前
ecmoney
6年前
Briboy
6年前
ClayTrader
6年前
メールアドレスで登録
