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FLR News
FLR Events
Fluor Reports Q2 Revenue of $4.3B, Beating Consensus
Reports Q2 revenue $4.3B, consensus $3.86B. "Our second quarter awards demonstrate the successful pull-through of our front-end work and the confidence clients have in Fluor to advance their most important investments," said Jim Breuer, chief executive officer of Fluor. "These awards reflect conversion of our prospect pipeline, which we continue to replenish with additional opportunities. We remain focused on disciplined growth in our selected markets, strategic capital allocation and long-term value creation for our clients and shareholders."
Fluor Selected for New Aromatics Facility Design in Bahrain
Fluor announced that it has been selected by Gulf Petrochemical Industries Company to execute the front-end engineering and design for a new aromatics facility located in the Kingdom of Bahrain. The project will expand GPIC's existing complex, which currently produces ammonia, urea and methanol, the company noted.
Fluor Divests Equity Stake in ICA-Fluor Daniel for $175M
Fluor announced that it has divested its equity stake in ICA-Fluor Daniel to its existing JV Partner, ICA for $175M. "Since the joint venture was formed in 1993, Fluor and ICA have successfully completed numerous projects in support of Mexico's oil and gas, power, mining and manufacturing markets," said Jim Breuer, Fluor's Chief Executive Officer. "Given our current strategic priorities and in agreement with our partner, we determined that this is the right time to conclude this long-standing JV, allowing ICA more opportunity to grow independently and Fluor to direct attention to other growth areas, while maintaining the ability to support ICA's efforts in Mexico on a project-by-project basis." The expected gain on sale, combined with year-to-date operating income from the JV, will exceed Fluor's anticipated 2026 earnings contribution from ICA-Fluor Daniel. The company will provide additional information on this transaction and update its guidance on our upcoming second quarter earnings call on August 7.
Fluor Selected by Aramco for Long-Term Project Management Contract
Fluor announced that it has been selected by Saudi-based Aramco as a program management consultancy contractor under a long-term agreement to support its global capital projects portfolio. The pact covers future opportunities for pre-FEED, FEED, engineering, project management, procurement oversight, construction management and program execution services across a range of upstream, downstream, petrochemical and infrastructure developments.
Fluor and Walsh Complete $2.1B Chicago Transit Project
Fluor Corporation and its joint venture partner, Walsh Construction Company, have reached Substantial Completion on the Chicago Transit Authority's $2.1B Red and Purple Line Modernization Phase One Project, the largest completed capital project in CTA's history. The recently achieved milestone reflects the dedication and collaboration of an exceptional project team, including Fluor, Walsh Construction, Stantec, Hitachi and Meade. "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."
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