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Fluor Corp (FLR) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

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Fluor Corp

HISTORY TOOLS
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 THIRD QUARTER 2020 RESULTS

 

·Fluor reports earnings per share of $0.14 for the third quarter of 2020
·No material project execution charges in the first three quarters of 2020
·Company now current with all financial filings and debt requirements
·COVID-19 continues to delay new awards as clients defer capital investments

 

IRVING, Texas (December 10, 2020) – Fluor Corporation (NYSE: FLR) today announced financial results for its quarter ended September 30, 2020. Revenue for the quarter was $3.8 billion and net earnings from continuing operations attributable to Fluor was $19 million, or $0.14 per share. Consolidated segment profit for the quarter was $129 million compared to $79 million a year ago. Operating cash flow in the quarter was $80 million.

 

New awards for the third quarter were $1.7 billion and ending backlog was $27.8 billion. Corporate general and administrative expenses for the quarter were $68 million which included foreign currency transaction losses of $30 million and investigation expenses of $19 million in the quarter.

 

“With today’s 10-Q filing, Fluor is now current with its financials,” said Carlos Hernandez, Fluor’s chief executive officer, “While 2020 has provided a lot of unexpected challenges for our business, we are pleased to report that for the third consecutive quarter, we have had no material project execution charges.”

 

The following information was filed by Fluor Corp (FLR) on Thursday, December 10, 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 Earnings
Consolidated Statement Of Changes In Equity (Parenthetical)
Cash Paid For Interest And Taxes
Cash Paid For Interest And Taxes (Tables)
Cash Paid For Interest And Taxes - Schedule Of Interest And Taxes (Details)
Contingencies And Commitments
Contingencies And Commitments - Narrative (Details)
Contract Assets And Liabilities
Contract Assets And Liabilities - (Details)
Contract Assets And Liabilities - (Tables)
Debt And Letters Of Credit
Debt And Letters Of Credit - Credit Facilities (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 - (Tables)
Earnings Per Share - Narrative (Details)
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)
Impairment, Restructuring And Other Exit Costs - Schedule Of Impairment (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 Segment Profit (Loss) (Details)
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 - 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 - Ownership And Receivables (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 - Schedule Of Remaining Performance Obligation (Details)
Retirement Benefits
Retirement Benefits - (Tables)
Retirement Benefits - Narrative (Details)
Stock-Based Plans
Stock-Based Plans - Narrative (Details)
Ticker: FLR
CIK: 1124198
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-20-017321
Submitted to the SEC: Thu Dec 10 2020 7:05:21 AM EST
Accepted by the SEC: Thu Dec 10 2020
Period: Wednesday, September 30, 2020
Industry: Heavy Construction Other Than Bldg Const Contractors

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