Fluor Corporation (NYSE: FLR) today announced preliminary results for
its third quarter ended September 30, 2018. Pre-tax earnings
attributable to Fluor are anticipated to be approximately $125 million.
Preliminary results include expected pre-tax charges of $46 million
relating to close out efforts on a downstream project in Europe and $35
million for forecast revisions on a gas-fired power project in Citrus
County, Florida. Preliminary results for the quarter also include a $124
million pre-tax benefit related to the Company’s sale of its Seagreen
The company expects third quarter revenue of approximately $4.6 billion
and new awards of approximately $9 billion.
Preliminary Third Quarter Conference Call
Fluor will host a conference call at 5:30 p.m. Eastern time on
Wednesday, October 10, which will be webcast live on the Internet and
can be accessed by logging onto investor.fluor.com.
Interested parties may dial 800-239-9838 or 323-794-2551, passcode
2546193 to listen. To access the replay, call 888-203-1112 or
719-457-0820, passcode 2546193 to listen. The webcast will be archived
for 7 days following the call.
Third Quarter Results
Fluor will host a conference call and report final third quarter results
on November 1, 2018.
About Fluor Corporation
Founded in 1912, Fluor Corporation (NYSE: FLR) is a global engineering,
procurement, fabrication, construction and maintenance company that
transforms the world by building prosperity and empowering progress.
Fluor serves its clients by designing, building and maintaining safe,
well executed, capital-efficient projects around the world. With
headquarters in Irving, Texas, Fluor ranks 153 on the Fortune 500
list with revenue of $19.5 billion in 2017 and has more than 56,000
Forward-Looking Statements: This
release may contain forward-looking statements (including without
limitation statements to the effect that the Company or its management
"believes," "expects," is "positioned” or other similar expressions).
These forward-looking statements, including statements relating to
future growth, backlog, earnings and the outlook for the Company’s
business are based on current management expectations and involve risks
and uncertainties. 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, including the Company’s Energy &
Chemicals segment; the Company's failure to receive new contract awards;
the Company’s failure to meet cost and schedule estimates; cost
overruns, project delays or other problems arising from project
execution activities; intense competition in the industries in which we
operate; failure of our joint venture or other partners, suppliers or
subcontractors to perform their obligations; failure to obtain favorable
results in existing or future litigation or dispute resolution
proceedings or claims; cyber-security breaches; foreign economic and
political uncertainties; client cancellations of, or scope adjustments
to, existing contracts; client delays or defaults in making payments;
risks or uncertainties associated with events outside of our control,
including weather conditions; the Company’s failure, or the failure of
our agents or partners, to comply with laws; the potential impact of
certain tax matters; possible information technology interruptions or
inability to protect intellectual property; new or changing legal
requirements, including those relating to environmental, health and
safety matters; liabilities associated with the performance of nuclear
services; foreign currency risks; the availability of credit and
restrictions imposed by credit facilities, both for the Company and our
clients, suppliers, subcontractors or other partners; failure to
maintain safe worksites and international security risks; the inability
to hire and retain qualified personnel; possible limitations on bonding
or letter of credit capacity; risks or uncertainties associated with
acquisitions, dispositions and investments; risks arising from the
inability to successfully integrate acquired businesses; the use of
estimates and assumptions in preparing our financial statements; and the
Company’s ability to secure appropriate insurance. 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 20, 2018.
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.
The preliminary results described in this press release are subject
to change upon completion of Fluor's quarter-end financial review
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