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Fluor Corp (FLR) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

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 FIRST QUARTER 2020 RESULTS

 

·Q1 2020 loss per share from continuing operations of $1.22 reflects non-cash impairments and charges related to weak commodity prices and COVID-19
   
·No material project adjustments in the first quarter of 2020; $52 million change in project positions due to the impact of COVID-19

 

IRVING, Texas (October 22, 2020)

Fluor Corporation (NYSE: FLR) today announced financial results for its quarter ended March 31, 2020. Revenue for the quarter was $4.1 billion and the net loss from continuing operations was $171 million or $1.22 per diluted share. Consolidated segment profit for the quarter was $52 million, up from $39 million a year ago. Consolidated continuing operations for the first quarter of 2020 included non-cash impairments and charges of approximately $353 million to reflect the impact of weak commodity prices and COVID-19. Results for the quarter also include $52 million in project adjustments for potential COVID-19 schedule delays and an approximately $100 million tax benefit from the Coronavirus Aid, Relief and Economic Security (CARES) Act.

 


The following information was filed by Fluor Corp (FLR) on Thursday, October 22, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Fluor Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet (Parenthetical)
Condensed Consolidated Statement Of Cash Flows
Condensed Consolidated Statement Of Changes In Equity
Condensed Consolidated Statement Of Comprehensive Income (Loss)
Condensed Consolidated Statement Of Operations
Consolidated Statement Of Changes In Equity (Parenthetical)
Cash Paid For Interest And Taxes
Cash Paid For Interest And Taxes - Narrative (Details)
Contingencies And Commitments
Contingencies And Commitments - Narrative (Details)
Contract Assets And Liabilities
Contract Assets And Liabilities (Tables)
Contract Assets And Liabilities - Narrative (Details)
Debt And Letters Of Credit
Debt And Letters Of Credit (Details)
Derivatives And Hedging
Derivatives And Hedging - (Tables)
Derivatives And Hedging - Gains (Losses) Associated With Fair Value And Cash Flow Hedges (Details)
Derivatives And Hedging - Narrative (Details)
Derivatives And Hedging - Notional Amounts And Fair Values (Details)
Discontinued Operations
Discontinued Operations - (Tables)
Discontinued Operations - Assets And Liabilities Held For Sale (Details)
Discontinued Operations - Financial Information Of Discontinued Operations (Details)
Discontinued Operations - Narrative (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share - (Tables)
Fair Value Measurements
Fair Value Measurements - Financial Instruments Not Required To Be Measured At Fair Value (Details)
Fair Value Measurements - Recurring Basis (Details)
Fair Value Measurements - (Tables)
Guarantees
Guarantees - Narrative (Details)
Impairment, Restructuring And Other Exit Costs
Impairment, Restructuring And Other Exit Costs - (Tables)
Impairment, Restructuring And Other Exit Costs - Narrative (Details)
Impairment, Restructuring And Other Exit Costs - Restructuring Costs (Details)
Impairment, Restructuring And Other Exit Costs - Restructuring Liability (Details)
Income Taxes
Income Taxes - Narrative (Details)
Operating Information By Segment And Geographic Area
Operating Information By Segment And Geographic Area - (Tables)
Operating Information By Segment And Geographic Area - External Revenue And Total Assets By Geographic Area (Details)
Operating Information By Segment And Geographic Area - Narrative (Details)
Operating Information By Segment And Geographic Area - Reportable Segments (Details)
Operating Information By Segment And Geographic Area - Total Assets (Details)
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss) - (Tables)
Other Comprehensive Income (Loss) - Changes In Aoci Balances By Component (Details)
Other Comprehensive Income (Loss) - Significant Items Reclassified Out Of Aoci (Details)
Other Comprehensive Income (Loss) - Tax Effects Of Components Of Other Comprehensive Income (Loss) (Details)
Partnerships And Joint Ventures
Partnerships And Joint Ventures - Narrative (Details)
Partnerships And Joint Ventures - Variable Interest Entities (Details)
Principles Of Consolidation
Recent Accounting Pronouncements
Recent Accounting Pronouncements (Details)
Recent Accounting Pronouncements - (Policies)
Remaining Unsatisfied Performance Obligations
Remaining Unsatisfied Performance Obligations - (Tables)
Remaining Unsatisfied Performance Obligations - Narrative (Details)
Remaining Unsatisfied Performance Obligations - Schedule Of Remaining Performance Obligation (Details)
Retirement Plans
Retirement Plans - (Tables)
Retirement Plans - Net Periodic Pension Expense And Narrative (Details)
Stock-Based Plans
Stock-Based Plans - Narrative (Details)
Ticker: FLR
CIK: 1124198
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-20-014673
Submitted to the SEC: Thu Oct 22 2020 7:04:05 AM EST
Accepted by the SEC: Thu Oct 22 2020
Period: Tuesday, March 31, 2020
Industry: Heavy Construction Other Than Bldg Const Contractors

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