In the results of final and fourth quarter of the year reported on February 18, Fluor Corp. He pointed out the profits in the company’s income and in certain benefits, but projects and other issues set some reference points for market analysts. Contractor executives remain bullies, they will have better results ahead when their federal federal sector work is installed and with new perspectives on energy expansion and important data center.
Corporate income increased by 5.4% by 2024 to $ 16.3 million, and 11% in the quarter four compared to the same periods a year ago, based on what analysts said They were “solid contributions” of their energy, infrastructure and advanced manufacturing companies. But the increases still lost their consensus levels, as well as the results by action adjusted at the end of the year of fluoride, which dropped by 29% of their 78 hundred at the end of 2023. . The adjusted net results fell 13.5% year -on -year. $ 530 million, from $ 613 million.
Analysts had expected better news in the completion of the export gas export terminal of epic $ 14 billion to British Columbia, but the firm said the work has “exceeded the end point of 95%and It is “underway” to satisfy the owner of several companies on a half -year gas sending. Fluor slopes “related to Covid-19 impacts.
The contractor now aims to have more GNL projects on a medium scale, large petrochemical projects in the Middle East, and works in capture and decarbonization of global carbon and nuclear and thermal energy. Fluor disappointed the analysts without new news this quarter related to the monetization of his long investment in a small Nuscala nuclear reactor developer. “We continue to negotiate with our strategic investor to reach an agreement on a long -term monetization … while we approach Nuscale in marketing. We believe that our current path is the best.”
Fluor also reduced the number of setbacks for the year, but the value of the dollar gross margin of the total is of the total of 7% year after year, with 80% of their refundable work as part of a strategy of The multiannual company to strengthen its capital structure and improve the execution of the project.
“Operational cash flow was strong during the year at $ 828 million and, on the positive side, there was no noise from inherited problems,” said Jamie Cook, an analyst in Truist’s construction sector. Securities, emphasizing that the firm also said that he completed $ 125 million in shopping purchases in the quarter and hopes to buy $ 300 million again next year.
“This was our best year to operate cash flows since 2015,” said Joe Brennan, Financier of Fluor. , Chief of accounting.
BOTTOM LINE HIT
The movements took place when Fluor has an impact on costs of $ 116 million per quarter related to a jury negative verdict against a joint company of the company in a dispute related to a design extension project of the design. North Texas Tollway Authority, which was completed in 2012, according to the company’s federal presentation last year.
Claiming the recent $ 280 million verdict against Fluor and Balfour Beatty Construction for Failure to Failure to Failure )It does not accurately reflect the testing tests, “he said the firm is” to evaluate all the options that most of them can eliminate, if not all, of the provisions taken “.
David Constable, CEO David Constable, said he also said that he would occupy in May since the end of 2020, to become a corporate executive chairman. Taking it a success, Operational Director Jim Breuer.
Constable said that the firm is “closely following” the orders and ads of the Trump administration, but told analysts that “it is still too early to be definitive on long -term impacts.” He said, however, that the firm sees the “underlying themes of Pro Domestic Energy Directives, the production of key minerals and the development of AI infrastructure … as favorable to the sources of nuclear energy and thermal, exports of GNG, accelerated permission, increasing the production of national and significant and significant minerals and significant construction of the data center. “”
According to Constable, Fluor “has evidence that its key contracts with agencies such as the United States Defense and Energy Departments and the Federal Emergency Management Agency” will continue because they are critical of the mission and we feel good [their] Continuity. “”
In his energy solution business, Fluor said that revenue increased by 6.9% year -on -year to $ 1.52 billion a quarter, with the margin of 40 quarter to 4.1%, increased significantly from the 1.8% a year ago, although the decline ended the year at $ 7.6 billion $ 9.7 billion a year earlier.
Breuer pointed out “a sturdy board of opportunities” in advanced manufacturing and other technology -focused work, especially in the emerging data center boom. He announced a main agreement with a “leading technology provider” not disseminated for the “initial data center” work in a co-locked place and said that Fluor is “in conversations or has agreements with the first four developers of the center of data “that he also did not identify.
“They are talking about hundreds of millions of investments announced,” said Breuer. “These jobs take a little longer to mature and develop. We are going to approach the market methodically and with a proper discipline of the project. “”
