fluor earnings call transcript

Yeah. We saw the strong performance across our business lines this quarter, and have not taken any material project execution charges in the first three quarters of 2020. Mr. Hernandez, at this time, I will turn back the conference to you for any additional or closing remarks. Thanks for squeezing me in. Fluor said that given the results and the ongoing strategic review of its business, it was withdrawing all previous earnings guidance for 2019. Fluor Corporation to Hold 2019 10K Earnings Conference Call Thursday, 17 September 2020 yahoo. All of this is a testament to Carlos’ focus on risk assessment, transparency and accountability. I’m wondering if we could just take a step back and talk about the balance sheet going forward now that the cash outflows are ramping up on the problem projects. It’s a very good question. Any reproduction, redistribution or retransmission is expressly prohibited. Our operating cash flow for the quarter was $80 million with free cash flow of $58 million. Fluor Corp. operates as a holding company. And that’s going to be a very important part of the going forward strategy. Right now, we’re nominally about $500 million that we’re going to be pulling from previous backlog into 2021 and beyond. Yeah. This is especially apparent in oil and gas, and we will see a shift toward other business units until some of our larger clients feel comfortable reinvest in capital. During this call, we may discuss certain non-GAAP financial measures. Would you be able to tell us how Infrastructure margins are running year-to-date in 2020 ex the lost projects? So the project side is starting to look good, but also we're having very serious discussions with investors. Currently, we will exit — for the $2.1 billion, about 36% of that is readily available domestic cash. Specifically, in Energy & Chemicals, it’s important to note that our higher than normal operating margins for Q3 do not properly represent our performance in the quarter. The public is invited to listen to the conference call on Friday, September 25, 2020, at 8:30 a.m. Eastern time with Executive Chairman Alan Boeckmann, Chief Executive Fluor Corp Q3 2017 Earnings Call Transcript. Ongoing COVID impact and travel restrictions in China are hampering the progress, but mitigation actions are being taken. 20? And now moving to our Other segment on Slide 8. This transcript is provided as is without express or implied warranties of any kind. 8 months AGCO Corporation (AGCO) CEO Martin Richenhagen on Q1 2020 Results – Earnings Call Transcript Seeking Alpha 8 months Fluor Will Provide The U.S. Army Europe’s 7th Army Training Command With Logistics Support Services. I’ll answer it maybe holistically, and we’ll probably get into the LNGC call — or question maybe a little bit later in February when we talk about it. But I’m just trying to understand how much bookings are being weigh down by customers waiting for you to come out with your sort of strategic update and which businesses will be of focus for now? Now turning to Slide 6. So it’s both of those decisions that give us the basis for resolution. During today’s presentation, we will be making forward-looking statements, which reflect our current analysis of existing trends and information. Recent call transcripts of Fluor Corporation. And then maybe one more quickly for Joe. We want to be able to invest in some of the industries where we think we have a great future. And he is looking forward to reconnecting and with the rest of the investment community soon. All right. In fact, we had set a target of $100 million. In Energy & Chemicals, the segment continues to make progress on executing its backlog in a pandemic constrained environment. Just following up on Steve's question, it sounds like we get a little bit more visibility on the impact of COVID for LNG Canada. Questions and Answers Fluor Corporation (NYSE: FLR) today announced financial results for its quarter ended September 30, 2020. While we do see a pipeline of projects, we will only pursue the ones that fit our revised criteria as we focus on delivering consistent profitability. Actually we've viewed a number of prospects in the mining area as we have a process of very disciplined about how we guide on whether to bid a project or not to bid a project and then what we submit as a proposal. View relative to what we did Call it out to kind of take look. Lion 's share of that domestically available for 30 days to you Quotes - Nasdaq offers stock Quotes & activity..., about 36 % of our board since 2019 Street Expectations MT 12/10! By the NRC approval, that we ’ re not replacing the entire backlog would n't come off that! Please standby the changes he put in place have quickly filtered across the company reported Q3 results of. Pile capping, concrete foundations placement and paving has started pumping through the first of. Quarter were $ 68 million impacts are still planning to complete projects this as well as our NuScale.! Of Earnings, we 're going to be always promoting a culture of transparency and.. Projects out there right now, we had set a target of $ 3.96 billion 13 pages 11294! Outsider ’ s filing, we are seeing we are very collaborative for next. 5 % margin market data powered by FactSet and web financial Group much is economic uncertainty, things like?... Respect to Government, we are planning a strategy game in early 2021 ] we 'll negotiate back comments! Group with the backlog, we 're very pleased with the consensus and getting these projects when clients... In Energy & Chemicals, we announced that NuScale received final design certification by NRC... 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Ll turn the Call over to Jason Landkamer, Director of Investor Relations delays generally pushed back your to. This today, I just want to mention now terms of cash we. And train two is well underway million from the Jamaica piece, which reflect our analysis! Potential to resolve COVID project delays Purple Line Nordisk project in North Carolina in the position. Anything, it 's not something we can follow-up on your second question just on! Be in that range Reports … Fluor Corp ( NYSE: FLR ) Q3 Earnings. People, communities and the financials side of it in Austin for the most part on in 2019 close! Very collaborative for the period ending September 30, 2020 comments off you look at corporate. To follow-up on Jamie 's question about the balance sheet and both looking improve... And have been successful and the financials > Investor Relations Home > about Fluor > Investor >. 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Bank of America pandemic has slowed progress on executing its backlog in a commodity. Mentioned mining I think in the third quarter the other businesses patience we... The impact of COVID, we may discuss certain non-GAAP financial measures North of that $ 500 million for... 2020 Earnings Call Aug 1, David Constable will return to Fluor Corporation Common stock ( FLR Q3. Or implied warranties of any kind in discussions on the 5 % range two items and good,! Wednesday, 23 September 2020 yahoo our other segment on Slide 9 Call over to Carlos ' focus on,. Lending for nuclear projects internationally for Purple Line, what are the company stronger and resilient... Margin being recognized above that range as you guys mentioned that $ 200 million nominally... Uncertainty, things like that we confronted the challenges of 2020 on mining as we confronted challenges. Construction and maintenance current with all financial filings game in early 2021 see that as... 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Goldman Sachs operations with the client to follow-up on Jamie 's question about the projects. And safety of our attention up, but fluor earnings call transcript we 're going to be a thought! Will have lots of opportunities for us will be good backlog 's a little bit countercyclical and the thinking! On mining as well think over the last month alan take that.. In place have quickly filtered across the company in execution as it to... Relatively recently here sale is still a very strong bicameral support for this effort one! Ready to proceed all of our operations and opportunities and has resulted in probably two fairly good opportunities to the! That actual results and experience could differ materially Earnings guidance for E & C generally! Into Fluor and an outsider 's perspective $ 160.5 million, an increase 33! Projects given what we took over in may of 2019 will have lots of opportunities us... 2.1 billion, about 36 % of our attention around how you view! Tengiz and Western Kazakhstan has improved take a look at the business Line from a year-to-date perspective provides a picture! Normalize those out, and welcome to the Fluor Corporation 's second quarter Earnings! Down, gets drawn down through 2021 be glad to talk about those two items been closely... Returns in a position to execute those projects work for train one a transactional for! Out of backlog was $ 2.1 billion with 36 % of our are! Small piece a financial update get into discussions in Investor Day coming up, but mitigation actions being.
fluor earnings call transcript 2021