Fluor Corporation

Fluor Joint Venture Selected for LNG Canada Phase 2 Expansion Following Final Investment Decision

Fluor's joint venture with JGC Corporation has been selected and received Notice to Proceed for LNG Canada Phase 2 in Kitimat, British Columbia, following the project's final investment decision. Fluor will recognize its US$7.5 billion share of the contract in the third quarter of fiscal 2026 -- a major backlog addition relative to the company's $15.5 billion in 2025 revenue. Phase 2 adds an LNG storage tank and two liquefaction trains, roughly doubling facility capacity to approximately 28 million tonnes per annum. The award builds on the JV's delivery of Phase 1, which began producing LNG in June 2025.

•26d ago

FLR: 10-Q · periodic report

Fluor's Q2 2026 revenue rose to $4,329 million from $3,978 million a year earlier, with net earnings attributable to Fluor of $114 million and diluted EPS of $0.81. The prior-year net earnings of $2,460 million were inflated by a $3,212 million equity method gain on the NuScale investment, so the operational comparison is the meaningful one. Core profitability improved sharply: total segment profit more than doubled to $170 million at a 3.9% margin versus $78 million at 2.0% in Q2 2025, led by a 12.4% margin in Energy Solutions and ramping mining and metals work in Urban Solutions. New awards of $6,103 million in the quarter, more than triple the prior year, lifted backlog to $26,891 million from $25,536 million at year-end 2025. Wins included a multi-year uranium enrichment facility EPC contract, a limited notice to proceed on LNG Canada Phase 2, and a long-term agreement with Aramco. Fluor ended the quarter with $3.0 billion of cash and marketable securities against $1,072 million of debt after completing its NuScale exit for $2.43 billion in cumulative proceeds, repurchasing $816 million of stock in the first half, and targeting roughly $1.4 billion for 2026. Legal overhangs persist, including the pending Santos appeal and a securities class action with related derivative suits.

SEC 10-Q•2mo ago

Fluor Announces Appointment of James F. (Frank) Caldwell Jr. to Its Board of Directors

Fluor elected retired U.S. Navy Admiral James F. (Frank) Caldwell Jr. to its Board of Directors, increasing total board membership to 11, of whom 10 are independent. Caldwell will serve on the Audit and Governance Committees, bringing decades of experience in nuclear operations, safety, and strategic planning. His appointment is expected to bolster Fluor's growth initiatives in nuclear energy, government, and defense markets.

•2mo ago

Fluor Awarded Front-End Engineering and Design for Petrochemical Facility in the Kingdom of Bahrain

Fluor Corporation was awarded a contract by Gulf Petrochemical Industries Company (GPIC) to provide front-end engineering and design (FEED) services for a new aromatics facility in the Kingdom of Bahrain. The facility is designed to produce approximately 1.2 million metric tons of paraxylene and 0.5 million metric tons of benzene annually, expanding GPIC’s existing complex in Sitra. Management noted the award reflects GPIC’s confidence in Fluor’s ability to deliver complex projects with technical excellence and predictable outcomes.

•3mo ago

Fluor Divests Equity Stake in Mexico JV

Fluor Corporation announced it has divested its equity stake in the ICA-Fluor Daniel joint venture to its partner ICA for $175 million. The company stated that the expected gain on sale, combined with year-to-date operating income from the JV, will exceed Fluor's anticipated 2026 earnings contribution from the business. Management noted that the move allows Fluor to focus on other strategic growth areas while maintaining the ability to support ICA on a project basis; updated guidance will be provided on the Q2 earnings call.

•3mo ago

Fluor Enters into Long-Term Agreement with Aramco

Fluor Corporation has been selected by Saudi Aramco as a Program Management Consultancy contractor under a new Long-Term Agreement (LTA). The agreement covers future opportunities for pre-FEED, FEED, engineering, project management, procurement oversight, and construction management services across upstream, downstream, petrochemical, and infrastructure developments. Pierre Bechelany, Fluor’s Business Group President of Energy Solutions, stated the award reflects Fluor’s proven record in program management excellence and capital discipline, reinforcing its long-standing relationship with Aramco in the Kingdom of Saudi Arabia.

•3mo ago

Fluor Joint Venture Reaches Substantial Completion on Chicago Transit Authority’s Red and Purple Line Project

Fluor and its joint venture partner Walsh Construction reached substantial completion on the Chicago Transit Authority’s $2.1 billion Red and Purple Line Modernization Phase One Project. The milestone included modernizing two miles of 100-year-old elevated track and rebuilding four stations, along with a new elevated bypass to improve throughput. Fluor reported 2025 revenue of $15.5 billion and ranks 292 on the Fortune 500.

•3mo ago

Fluor Joint Venture Receives Limited Notice to Proceed for Proposed Phase 2 Expansion of LNG Canada Facility

Fluor’s joint venture with JGC Corporation received a Limited Notice to Proceed for the proposed Phase 2 expansion of the LNG Canada facility in Kitimat, British Columbia. The LNTP allows the team to begin early planning and key activities to support a potential Final Investment Decision by LNG Canada, which would double the facility’s production capacity from 14 million to 28 million tonnes annually. Fluor previously delivered Phase 1 of the project in 2025, and this milestone reinforces its long-standing partnership with LNG Canada and its major energy owners, including Shell and PETRONAS.

•4mo ago

Fluor Awarded Feasibility Study Services for Anglo American’s Woodsmith Mining Project in the UK

Fluor Corporation was selected to perform feasibility study services for Anglo American’s Woodsmith mining project in North Yorkshire, England. The undisclosed contract value will be recognized in the company's second quarter of 2026. The Woodsmith project is a large-scale underground mine targeting the production of 13 million tonnes per year of polyhalite fertilizer. The infrastructure includes a 37-kilometer underground conveyor tunnel to transport material to a processing facility in Teesside. Management highlighted the project's potential as a sustainable source of critical fertilizers, noting that the award reflects Fluor's technical expertise in executing complex mining projects safely.

•5mo ago

FLR: 8-K · asset sale

Fluor Corporation announced that it has completed the sale of its remaining 40 million shares of NuScale Power Corporation. This specific transaction generated gross proceeds of $473 million. The Corporation had initially invested $570 million in NuScale and has generated approximately $2.43 billion in total proceeds from open market sales since September 2025. This divestiture marks a full exit from the position with a substantial return on investment.

SEC 8-K•6mo ago