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Fluor Corp (FLR) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

SEC Filings

Fluor Corp

CIK: 1124198 Ticker: FLR

 

Exhibit 99.1 

 

Fluor Corporation Brian Mershon
6700 Las Colinas Blvd Media Relations
Irving, Texas 75039 469.398.7621 tel

 

469.398.7000 main tel Jason Landkamer
  Investor Relations
  469.398.7222 tel

 

 

 

News Release

 

Fluor reports FULL YEAR 2019 RESULTS

 

·Files annual report on Form 10-K for 2019
   
·Announces decision to exit competitive EPC lump-sum bidding for Energy & Chemicals segment
   
·Company expects to be current in financial reporting by year end
   
·In-depth business evaluation underway, working with ad-hoc Board committee

 

IRVING, Texas (September 25, 2020)

Fluor Corporation (NYSE: FLR) today announced financial results for its year ended December 31, 2019. Results for 2019 were a net loss from continuing operations of $1.7 billion, or $11.97 per diluted share, compared to earnings from continuing operations of $9 million, or $0.07 per share for 2018. The net loss attributable to Fluor includes impairment, restructuring and other exit costs of $533 million, expenses of $138 million related to the settlement of the U.K. pension plan and $731 million related to establishing valuation allowances to reduce net deferred tax assets. Consolidated segment loss for the year was $386 million compared to a profit of $323 million in 2018. Revenue of $14.3 billion in 2019 from continuing operations compares to $15.2 billion in the prior year.

 

Full year new awards from continuing operations and government were $12.6 billion, and ending consolidated backlog was $31.9 billion. Corporate G&A expenses for 2019 were $159 million, up from $118 million a year ago primarily due to the effects of foreign transactional gains and losses. Fluor’s cash and marketable securities at the end of 2019 was $2.0 billion. During 2019, Fluor paid $118 million in dividends.

 


The following information was filed by Fluor Corp (FLR) on Friday, September 25, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Fluor Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

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Inside Fluor Corp's 10-K Annual Report:
Ticker: FLR
CIK: 1124198
Form Type: 10-K Annual Report
Accession Number: 0001628280-20-013900
Submitted to the SEC: Fri Sep 25 2020 7:06:54 AM EST
Accepted by the SEC: Fri Sep 25 2020
Period: Tuesday, December 31, 2019
Industry: Heavy Construction Other Than Bldg Const Contractors

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