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Fluor (FLR) investor relations material
Fluor Baird 55th Annual Global Industrial Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Business overview and strategic evolution
Provides global engineering, procurement, and construction services, with diversification beyond oil and gas into energy, power, chemicals, government, mining, and life sciences.
Shifted from high-risk, lump-sum contracts to a focus on reimbursable contracts, now comprising 80–85% of backlog and nearly all new awards.
Centralized risk management and improved project visibility, moving away from a decentralized, autonomous model.
Re-entering power markets with a focus on 'smart lump sum' contracts and mid-to-late stage conversion from reimbursable to lump sum.
Actively pursuing opportunities in both traditional and nuclear power, including projects for hyperscalers and utilities.
Nuclear and energy sector developments
Exiting a 111 million share stake in NuScale, with a structured, measured sell-down expected to be completed by 1Q 2026.
Supporting NuScale's SMR project in Romania and bidding for EPC roles in other Romanian nuclear projects.
Potential involvement in restarting the V.C. Summer nuclear project in the U.S., leveraging prior experience.
Nuclear and power generation are key elements of long-term strategy, with both traditional and advanced nuclear projects targeted.
Mining and metals outlook
Mining, especially copper and rare earths, is seen as a major growth engine through 2028, with global opportunities in North America, Australia, and South America.
Four major copper projects are expected to reach FID by 2026, with at least half likely to proceed.
Over 90% of mining prospects involve current front-end engineering or procurement work, positioning for EPC awards.
Project delays are more often due to market or financial factors than competition; recent consolidation and inflation have impacted timelines.
Rare earth and critical minerals projects are expanding, with a focus on diversifying supply chains outside Asia-Pacific.
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Frequently asked questions
Experts at Complex Construction Projects
Fluor Corporation is an American company with multinational operations that specializes in engineering and construction. The company has grown to become one of the largest and most diverse providers of engineering, procurement, construction, maintenance, and project management services globally. Fluor operates across various sectors including oil and gas, chemicals, mining, metals, infrastructure, power, renewable energy, and government projects. It is headquartered in Irving, Texas, and its shares are listed on the NYSE.
Founding and Growth
The modern form of the company was founded in 1912 as Fluor Construction Company in Santa Ana, California. Fluor's expertise in building and maintaining oil refineries, pipelines, and other infrastructure projects became the cornerstone of its growth. The 1940s marked a significant turning point for Fluor, as it began taking on larger projects, including the construction of factories during World War II. The post-war era saw further diversification, as the company ventured into nuclear and aerospace industries, underpinning its reputation for tackling complex engineering projects. Throughout the latter half of the 20th century and into the 21st century, Fluor continued to expand globally, diversifying its portfolio to include not only services for the oil and gas industry, but also mining, power generation, and other industrial sectors.
The Company’s Offerings
Fluor operates as a holding company, offering a range of services through its subsidiaries. A significant portion of Fluor's business is rooted in the oil and gas industry, but its expertise stretches into other sectors as well. This includes the design and construction of power plants, petrochemical factories, and mining facilities, as well as the development of essential infrastructure like roads and bridges. Government buildings and manufacturing facilities are also part of Fluor's project portfolio. The company has become known for tackling large and complex construction projects which is a large part of its company DNA. Some publicly traded companies offering similar services are Jacobs Solutions, AECOM, and KBR.
Complex Project Management
A key aspect of Fluor's operations is large-scale project management. The company is well known for its expertise in handling intricate projects that require meticulous planning, design, engineering, and construction management. These projects often entail the development of industrial facilities, such as refineries, power plants, manufacturing units, and other complex structures. Fluor's role typically encompasses the entire lifecycle of these projects, from the initial conceptual design through to the final stages of construction and commissioning.
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