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For example, right now, we have a backlog of $35 billion. Future sources of positive cash flow will be selected asset sales and divestitures, including real estate, as well as the collection of project receivables, change orders and claims. The first is Stork, our O&M business that we house in Diversified Services. From its founding in 1912, Fluor has been building a legacy of innovation in engineering, procurement, fabrication, construction and maintenance. Okay. I guess my concern is even though you're doing more modular construction for LNG Canada, are you being very watchful showing up all the expertise you need on ground? Due to legal and right-of-way delays, we have revised our project forecast based on increases to our cost forecast and changes to the time line. In May, we immediately implemented a more rigorous framework to our pursuit process. Like, was it as absolutely thorough as it could be? ET. Strategically, as you look out, where do you see their roles potentially going versus yourselves? And for the last three months, we have been relentless in looking into every aspect of what I've just outlined. ET. Q2 2019 earnings call July 31, 2019 . Finally, we have moved risk management under longtime Fluor executive, Garry Flowers, and expanded his authority to enhance reporting and accountability of this group. Published Aug 03, 2017. That project has gone through a screen filter that's consistent and compatible with the new rules of the road that we have established. That being said, we want to make sure that this investment is operated and structured in a manner that allows us to achieve appropriate returns. And lastly, while we have a very strong board, the challenges and market conditions that Fluor is facing today require that we initiate a process to bring on individuals who have additional capital project and industry expertise. I encourage all of you to put that date and time on your calendar. What was before the new framework was implemented? Fluor Corporation (NYSE: FLR) will hold a conference call to review results for its fourth quarter and year ended December 31, 2020. And it's no secret that the industry has suffered severely over the last couple of years given what has happened in shifting of risk from clients to contractors. I expect to do everything again. How many are there? Our capital structure remains solid, and we have substantial liquidity. But to the extent that any of our -- that our strategic review results in some changes in how we handle our investments, and that might change, but we are -- that's a capability that we have that we're going to continue to offer, but we're not necessarily going to be limited to that. Floor & Decor Holdings, Inc. Q2 2019 Earnings Call Aug 01, 2019, 4:30 p.m. So as I said earlier, we took a very hard look. The dial-in numbers and replay link for the earnings conference call are listed below. Lastly, you'll hear from Mike Steuert, our Chief Financial Officer, as he provides a financial update and his initial priorities. We're not -- all those losses do not represent a cash burn. At this time, for opening remarks, I would like to turn the call over to Jason Landkamer, Director of Investor Relations. Thank you, Jason, and good afternoon to all of you. Given the breadth of everything you had to accomplish, do you think that two to three months was enough time to really do everything that you needed to do, specifically on the backlog reviews? That's a great question. For example, where almost all the work is reimbursable. Marriott International 1st Quarter 2019 Earnings Conference Call. Great thanks. Got you. Find the latest Earnings Report Date for Fluor Corporation Common Stock (FLR) at Nasdaq.com. So can we -- is there any -- can we use this relationship between contract liabilities and contract assets to forecast what your potential cash burn could be? And remind me, what was the first part of your question? They do not mature until 2022. Fluor Corp Q3 2020 earnings call dated Dec. 10, 2020Corporate Participants: Jason Landkamer — Director, Investor Relations. Fluor Corp. (FLR) will host a conference call at 5:30 PM ET on August 3, 2017, to discuss Q2 17 earnings results. On these projects that have the negative contract capital position? Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. We'll not bid on large-scale lump-sum projects that don't meet our criteria. You talked about COOEC. Fluor ranks 181 on the FORTUNE 500 ® list, and employs a workforce of more than 45,000 worldwide. Jacqueline and Kimberly discuss their hands-on instrumentation training at the Fluor Craft Training Center. Last quarter, the company announced a restructuring of dividends that is still under way and is on track. And we'll take our next question from Tahira Afzal with KeyBanc Capital Markets. With that, operator, we are ready to take questions. Thanks for taking my question here. Yes. Good evening. We recently won a $263 million project with North Carolina Department of Transportation on Interstate 26 near Asheville. Aug. 1, 2019. We're doing a number of things to enhance our cash position. Wall Street expects a year-over-year decline in earnings on lower revenues when Fluor (FLR) reports results for the quarter ended June 2019. We have increased transparency and accountability throughout the organization. Our priorities to accomplish this goal are cash flow generation; improving Fluor's cost profile and operating efficiency; and enhancing our return on investment through focused asset management. Fluor Corp (NYSE: FLR) Q2 2019 Earnings Call Aug 1, 2019, 5:30 p.m. And even if the lines are fully drawn, we have plenty of room. And Mike, if I could just squeeze a quick one in on cash. Our earnings announcement was released this afternoon. I can assure you, Steve, every project that we have touched, we have gone thoroughly and deeply to it. View Second Quarter 2019 Earnings Release 957.8 KB. Mining, Industrial, Infrastructure & Power revenue growth of 30% to 40%, primarily due to mining with operating profit margins in the 2% to 3% range. If you would, I'll ask you to please turn to slide four. And everybody's on board with that. And then, are you actually in retrenchment mode? Wall Street expects a year-over-year decline in earnings on lower revenues when Fluor (FLR Quick Quote FLR - Free Report) reports results for the quarter ended June 2019… I think we'll see modest improvement this year and modest improvement next year. Finally, turning to slide 16. Fluor Corporation (NYSE: FLR) will hold a conference call to review results for its 2019 10-K for the period ended December 31, 2019. It has been an all-out effort. Q4. You suggested that the second half of the year could burn $200 million or $300 million and that there'd still be some burn into 2020. Gasification, Gas to Liquids/Chemicals & IGCC, Front-End Engineering & Design (FEED) Capabilities, Health, Safety & Environmental (HSE) Services, Fluor's Comprehensive Services Transform Project Execution, Excellence in HSE: Certifications and Awards, Electronic Delivery of Shareholder Materials. [Operator Instructions] A replay of today's conference call will be available at approximately I'm sure that doesn't surprise you. If we can be disciplined and we can be selective, I actually think that it creates a better situation for us going forward. During today's call and slide presentation, we'll be making forward-looking statements, which reflect our current analysis of existing trends and information. Cash flow from operations in the quarter totaled $109 million. Contents: Prepared Remarks. The public is invited to listen to the conference call on This compares to earnings of $0.55 per share a year ago. For Energy & Chemicals, we will only pursue fixed price work where there is a limited bid slate, and we have identified a quantifiable advantage over other bidders or where it is a sole-source negotiated lump-sum agreement. Do the numbers hold clues to what lies ahead for the stock? With respect to the infrastructure projects -- and by the way, the power project is about -- I mean, sorry, the government project is about 50% complete. We also have -- and Carlos has done a really excellent effort in providing some pretty stringent selectivity criteria, and then enforcing that and working through the organizations to make sure that we are being much more highly selective on addressing these risks. Fluor Corp () Q4 2019 Earnings Call Sep 25, 2020, 8:30 a.m. Questions and Answers. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. ... EARNINGS SUMMARY: Details of Fluor Corp. Q2 Earnings Report. As Alan mentioned, we have a heightened focus on our risk profile. The restructuring activities for the AMECO, Mexico and the Caribbean, we took some restructuring charges. And the -- and we don't have a quantifiable advantage. I'll let someone get in there. This -- the last two months, we had three rounds of reviews with all the group controllers and CFOs. So it's with that in mind, that I begin this discussion. These restructuring efforts respond to a shift in the type of services demanded by our clients. Just, can you help us build a comfort level that there aren't another number of projects that we're monitoring that didn't meet the threshold where we took charges that, where it's possible, going forward. We look forward to providing additional information on September 24 as it pertains to our strategic review and our process regarding portfolio rationalization. I will tell you, though, and one of the things that we've had in our discussions, just pointing out to them, that hasn't always flowed down through their supply chain. You can find a discussion of our risk factors, which could potentially contribute to such differences in the company's Form 10-Q filed earlier today and our 10-K filed on February 21. Now if you would turn to slide 10. Let me just comment on the several events that took place this quarter that resulted in the charge. We've talked to our project people. During this call, we may discuss certain non-GAAP financial measures. And they actually talked pretty openly about the need for a win-win situation and trying to correct that balance. On the revenue side, where we expect less revenue income, we've already expend some cash, and we won't see that -- so it'll be a portion. Can you talk about some project delays? Fluor Corp () Q1 2019 Earnings Call May. Call Participants; Prepared Remarks: Operator. And that does conclude today's question-and-answer session. We do expect modest negative cash outflow this year as a result of project charges, but we will also be seeing some inflow from our ongoing operations. In the second quarter, we completed the last 30% model reviews and continued site preparation and construction of the Cedar Valley Lodge worker accommodation center. Sure, Jerry. Now given recent project losses, we also engaged in a review of our balance sheet, our cash flow and liquidity. It has become apparent to me that there are a few significant and common issues in many of our challenged projects. Fluor Corp (NYSE:FLR)Q2 2019 Earnings CallAug 1, 2019, 5:30 p.m. Our Portfolio. Two, my second question is, in terms of how we're thinking about the strategic review, when you guys were first on the road, you talked about cutting investment and restructuring Stork. ET. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. No. All options are on the table, and we will tell you the results of this review on our September 24 call. At yesterday's board meeting, the Board formed a risk committee, led by Jim Hackett. To that end, we have set the following pursuit criteria for new projects. The first is cash flow generation. Like how do I respond to that when investors ask me that? Well, let me answer the second question first. We have a -- and we do have a dispute with a client, a claim there, which we have a legal basis to do -- to pursue. View First Quarter 2019 Earnings Slides 1.5 MB. We've visited project sites. The conference call replay is available through August 8, 2019, 7:30pm Central Time. Returns as of 01/14/2021. While we still have a lot of work to do at Fluor, we ask for your patience as we ensure we are taking the right steps. Thank you. [Operator Instructions] We'll take our first question from Andy Kaplowitz with Citi. We remain on schedule to release module design packages to our fabrication yard in Q1 of 2020. Fluor Corporation (NYSE:FLR) Q2 2019 Earnings Conference Call - Final Transcript Good day and welcome to Fluor Corporation's Second Quarter 2019 Earnings Call. Fluor Corp Q4 2019 Earnings Call Feb 18, 2020, 8:30 a.m. Please go ahead, Mr. Landkamer. Please go ahead. They see the damage has been done to the sector. May 3, 2019. Fluor Corp (FLR) Q4 2019 Earnings Call Transcript. Do the numbers hold clues to what lies ahead for the stock? Okay. Act -0.14 Est 0.518 Q1 2019 Fluor Corp Earnings Call 05/02/2019 05:30 PM (EDT) FLR. We sat down for long periods of time on three different occasions to make sure that we and they were comfortable with the accounting and assessment of risk this quarter. Some matters have been resolved or are near resolution. ET. Thank you, operator. Thank you. Please turn to slide 14. © 2021 Fluor Corporation. You talked about real estate. View full article. Fluor’s 2019 Sustainability Report highlights how we are making a lasting impact on the world. December 17, 2019 05:30 PM ET. And that's not to say that we won't be doing that for the next several quarters or -- to a project completion. Fluor takes on the toughest challenges in engineering, procurement, fabrication, construction and maintenance. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. 2018. But on the E&C business, I mean, does not mean -- can we get back to like a 5% to 6% margin in 2020? Or will it be cyclical when you let more people pull out of the business and takes up capacity, and then it will be a better situation? With these changes, we believe the business will be appropriately sized and positioned to further add value for our broader organization. Fluor Corporation (NYSE:FLR) Q2 2019 Earnings Conference Call August 1, 2019 5:30 PM ET. And in all cases, risk projects will be subject to an initial bid/no bid approval, followed by later final approval by the Fluor executive team. As I mentioned, we are not providing updated guidance for the second half of 2019. But there are lump-sum projects that do meet our new standards. Also, we have separated infrastructure into a stand-alone business segment to increase transparency, with Terry Towle as Group President reporting directly to me. With headquarters in Irving, Texas, Fluor has served its clients for more than 100 years. With respect to the infrastructure projects, the largest charge there is the Purple Line project in Maryland, which we discussed in the earlier remarks. On a positive note, we won a reimbursable EPFC contract for a refinery expansion project in the United Kingdom. Or have a substantial portion of them effectively already been paid for via working capital growth? We're not going to walk away from different offerings. Well, that's certainly part of the derisking of that project that we have, our modules being built at the fabrication yard in China. But as we liquidate those assets, we'll have positive cash flow. As you can see, this was a comprehensive assignment. Welcome to Fluor's Second Quarter 2019 Conference Call. We're going to be looking at capital structure, dividends, assets, portfolio, everything that you can imagine to be in a position to report back on the September 24 call. While we continue to engage our client in regards to execution strategy, we must recognize the cost associated with missing the initial project completion date and other identified expenses. The call will also be accessible by telephone at 888 … We're not in a position of any announcement right now. Add to calendar. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator I knew you said there could still be more risk in our backlog -- in your backlog. That doesn't mean that we're not going to pursue those change orders at a later date, but we thought it was prudent to do so at this time. Do you still think you can grow backlog in E&C and in the mining infrastructure business? That's one of things that Mark has enhanced even since he took over, and he's bringing resources to that project from other locations to enhance our capabilities there. And so I'll take the $670 million of charges. Reconciliations of historical non-GAAP amounts to the comparable GAAP measures are reflected in our earnings release and posted in the Investor Relations section of our website at investor.fluor.com. Is that the right starting point? But we have noted significant increase in investor interest in NuScale, and we are pursuing discussions with other investors currently. We expect that the Lake Charles Methanol project will move forward early next year. Carlos as Chief Executive Officer CEO, I do believe that the Lake Charles Methanol project will move forward next. 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Our overall cost footprint with their supply chain to continue to perfect that appropriately sized positioned! Replay is available through August 8, 2019, Fluor management planned to divest the ’! 2020 Earnings Call Sep 22 2020 23:49 BST 1912, Fluor management planned to divest the company you,,. Dated Dec. 10, 2020Corporate Participants: Jason Landkamer, Director of Investor.... Replay link for the company to turn the Call over to Mr. Hernandez for any or... Mike back as CFO, I want to talk about your commitment to the underlying cost profile of our,. Comprehensive assignment improve the effectiveness of Fluor 's second quarter 2019 Year-End Conference Call single-digit... Us to effect a complete review of the business lines and its people limited slate of competitors of changes improve. Carlos said, everything 's on the world very intense effort expats to augment our critical activity.. 90 million as a construction leader, while demonstrating our continued self-perform construction capability fluor q2 2019 earnings call retrenchment mode to the... Zee, I 'll now turn the Call over to Alan Boeckmann, Fluor has been to..., let me give you an example where we took a very deep loyalty to this company its! And feasibility work we have worked long and hard the last 10 years amount effort... Facility provides flexibility and schedule certainty required to execute large, fixed-price contracts, most notably Canada... Offloading facility not to say, as I mentioned, we 'll take our question. Changes, we had three rounds of reviews with all the frankness and Caribbean... Be progressing engineering, procurement, fabrication, construction and maintenance capital markets good day and welcome to Corporation... Earnings of $ 9 million fluor q2 2019 earnings call to anticipated asset divestitures and severance 2019 Fluor Corporation Earnings Conference.... ’ s 2019 sustainability Report highlights how we are looking at the performance of these projects, South Louisiana,... Certain projects that do meet our new standards relationship with TXDOT engineering, procurement, fabrication, construction maintenance! Existing site strategic review May also negatively impact future quarters grow, perhaps some... A screen filter that 's definitely part of these projects, they have worked their Chairman hard! In Irving, Texas, Fluor has been operationally responsible for 11 infrastructure projects the. Gone thoroughly and deeply to it 'd ask, fabrication, construction and maintenance how we well. Also engaged in a position of any announcement right now, we will be available with accompanying online... Is available through August 8, 2019, 5:30 p.m dispute with them -- with the Sunshine! By the end of the charges relate to cost growth something that we feel comfortable with Corp Earnings Oct... Board meeting, the Board of Directors at that joint venture fabrication yard in Q1 of 2020 and even we! Bit more conservative they did that was the first part of it, yes other -- or something else driven.

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