Summary of Fluor (NYSE:FLR) FY Conference Call - November 12, 2025 Company Overview - Fluor is a global engineering, procurement, and construction company, primarily known for its work in the oil and gas sector but has diversified into other areas such as LNG, power generation, chemicals, mining, advanced technologies, life sciences, and infrastructure projects [5][11][39]. Core Points and Arguments Business Model Evolution - Fluor has shifted its bidding strategy from a high-risk lump sum model to a focus on reimbursable contracts, with 99% of new awards being reimbursable last quarter and 80%-85% of total backlog being reimbursable [16][14]. - The company has centralized risk management to improve visibility and control over project bidding and execution [15]. Market Dynamics - The competitive landscape in the construction industry is changing, with fewer players in the diversified construction space, allowing Fluor to consider re-entering markets like power generation [17][18]. - Fluor is exploring opportunities in the power market, particularly in sophisticated projects that allow for a "smart lump sum" approach [18]. Nuclear Power Initiatives - Fluor is exiting its investment in NuScale, having invested $500 million over the years, and plans to liquidate its 111 million share stake by mid-Q1 2026 [26][29]. - The company is involved in two nuclear projects in Romania and is considering re-engagement in the U.S. nuclear market, particularly with the VC Summer project [35][37]. Mining and Metals Growth - Fluor sees significant growth potential in the mining sector, particularly in copper and rare earths, with expectations for several projects to reach Final Investment Decision (FID) by 2026 [39][42]. - The company is currently engaged in front-end engineering for over 90% of its mining prospects, indicating a strong pipeline of future work [44]. Life Sciences Sector - The life sciences business has been a major earnings driver, with a significant project for Lilly contributing to growth. Fluor anticipates more opportunities in this sector as clients seek to establish manufacturing facilities in the U.S. [50][51]. - Trade policy has been a concern, impacting clients' decisions on large investments [52]. Financial Outlook - Fluor is projecting an increase in EBITDA as legacy projects conclude, allowing for redeployment of resources to more profitable projects [57]. - The company plans to buy back $800 million in stock, partially funded by the conversion of its NuScale investment, with an expected EBITDA to cash conversion rate of 60%-70% [70][72]. Other Important Insights - The company is navigating challenges in the mining sector due to past management changes and market volatility, but sees a favorable environment for new projects [46][47]. - Fluor's diversified portfolio strategy is aimed at mitigating risks associated with traditional markets, allowing it to adapt to changing market conditions [65]. This summary encapsulates the key points discussed during the conference call, highlighting Fluor's strategic shifts, market opportunities, and financial outlook.

Core Viewpoint - Rosen Law Firm is encouraging investors of Fluor Corporation to secure legal counsel before the November 14, 2025 deadline for a securities class action lawsuit related to misleading statements made by the company during the class period from February 18, 2025, to July 31, 2025 [1][5]. Group 1: Class Action Details - Investors who purchased Fluor securities during the specified class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the court to serve as lead plaintiff by November 14, 2025 [3]. - The lawsuit alleges that Fluor made false and misleading statements regarding project costs and financial guidance, which negatively impacted the company's business and financial results [5]. Group 2: Rosen Law Firm's Credentials - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a proven track record in securities class actions, highlighting its own success in achieving significant settlements for investors [4]. - The firm has been recognized for its performance in securities class action settlements, including being ranked No. 1 by ISS Securities Class Action Services in 2017 and recovering over $438 million for investors in 2019 [4].

Group 1 - The article discusses a securities class action lawsuit against Fluor Corporation, reminding investors of the deadline to file lead plaintiff applications [1] - The class period for the lawsuit is specified as between February 18, 2025, and July 31, 2025 [1] - The lawsuit is being handled by Kahn Swick & Foti, LLC, with involvement from former Louisiana Attorney General Charles C. Foti, Jr. [1]

Core Points - A class action securities lawsuit has been filed against Fluor Corporation, targeting alleged securities fraud that affected shareholders between February 18, 2025, and July 31, 2025 [2][3] Group 1: Allegations - The lawsuit claims that Fluor Corporation made false statements regarding the costs associated with its infrastructure projects, including Gordie Howe, I-635/LBJ, and I-35, which were reportedly increasing due to subcontractor design errors, price hikes, and scheduling delays [3] - It is alleged that these issues, along with a reduction in customer capital spending and client hesitance due to economic uncertainty, were significantly impacting the company's business and financial results [3] - The complaint asserts that Fluor's financial guidance for FY 2025 was unreliable, overstating the effectiveness of its risk mitigation strategies and understating the impact of economic uncertainty on its operations [3] Group 2: Next Steps for Affected Shareholders - Shareholders who experienced losses during the specified timeframe are encouraged to seek information on their rights to recovery, with no cost or obligation to participate [4] Group 3: Legal Representation - Levi & Korsinsky LLP, a recognized securities litigation firm, has a history of securing substantial recoveries for shareholders and has been ranked among the top securities litigation firms in the United States for seven consecutive years [5]

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Fluor Corporation securities between February 18, 2025, and July 31, 2025, of the upcoming lead plaintiff deadline on November 14, 2025, for a class action lawsuit [1] Group 1: Class Action Details - Investors who bought Fluor securities during the specified Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1] - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by November 14, 2025 [2] - The lawsuit alleges that Fluor made false and misleading statements regarding project costs and financial guidance, which negatively impacted its business and financial results [4] Group 2: Law Firm Credentials - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [3] - The firm has achieved significant settlements, including the largest securities class action settlement against a Chinese company, and has recovered hundreds of millions of dollars for investors [3] - In 2019, the firm secured over $438 million for investors, and its founding partner was recognized as a leading figure in the plaintiffs' bar [3]

Core Viewpoint - Fluor Corporation is facing a securities fraud class action lawsuit due to significant financial losses reported in Q2 2025, which were attributed to rising costs and reduced capital spending by clients [2][3]. Financial Performance - On August 1, 2025, Fluor reported Q2 2025 financial results that missed consensus estimates, leading to a stock price drop of $15.35, or 27%, closing at $41.42 per share [2]. - The company lowered its full-year 2025 outlook, citing client hesitation due to economic uncertainty, which impacted new awards and project delays [2]. Lawsuit Details - The class action lawsuit alleges that Fluor made materially false and misleading statements regarding its business operations and financial outlook during the class period from February 18, 2025, to July 31, 2025 [3]. - Specific allegations include undisclosed rising costs in major projects due to subcontractor errors and economic factors affecting client spending [3]. Investor Information - Investors who acquired Fluor securities during the class period are urged to participate in the lawsuit, with a deadline set for November 14, 2025, to seek lead plaintiff status [4].

Core Viewpoint - Fluor Corporation is facing a class action securities lawsuit due to alleged securities fraud that occurred between February 18, 2025, and July 31, 2025, impacting investors adversely [1][2]. Group 1: Allegations and Impact - The lawsuit claims that Fluor Corporation made false statements regarding the rising costs of its infrastructure projects, including Gordie Howe, I-635/LBJ, and I-35, which were attributed to subcontractor design errors, price increases, and scheduling delays [2]. - It is alleged that these issues, along with a reduction in customer capital spending and client hesitation due to economic uncertainty, were likely to have a significant negative impact on the Company's business and financial results [2]. - The financial guidance provided by Fluor for FY 2025 is claimed to be unreliable and unrealistic, with an overstated effectiveness of the Company's risk mitigation strategy and an understated impact of economic uncertainty on its business [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until November 14, 2025, to request to be appointed as lead plaintiff in the lawsuit [3]. - Participation in the class action does not require investors to incur any out-of-pocket costs or fees, allowing them to potentially receive compensation without financial obligation [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years and consistently ranking among the top securities litigation firms in the United States [4].

Company Overview - Fluor Corporation reported a revenue of $163 billion for 2024[8] - The company's backlog is geographically split with 59% in the U S and 41% outside the U S [6] - The contract types are primarily reimbursable at 82% with fixed contracts making up the remaining 19%[6] Segment Performance - Urban Solutions reported Q3 2025 new awards of $18 billion and a backlog of $205 billion[29] - Energy Solutions experienced a segment loss of $533 million in Q3 2025 which includes a $653 million court ruling related to the Santos project[42] - Mission Solutions reported Q3 2025 new awards of $13 billion and a backlog of $26 billion[50] Financial Highlights - The company reported a consolidated segment loss of $439 million and adjusted EBITDA of $161 million for Q3 2025[54] - The diluted adjusted EPS was $068 for Q3 2025[54] - New awards totaled $33 billion in Q3 2025[54]

Core Viewpoint - Rosen Law Firm is encouraging investors of Fluor Corporation to secure legal counsel before the November 14, 2025 deadline for a securities class action lawsuit related to misleading statements made by the company during the class period from February 18, 2025, to July 31, 2025 [1][5]. Group 1: Class Action Details - Investors who purchased Fluor securities during the specified class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and those wishing to serve as lead plaintiff must act by November 14, 2025 [3]. - The lawsuit alleges that Fluor made false and misleading statements regarding project costs and financial guidance, which negatively impacted the company's business and financial results [5]. Group 2: Rosen Law Firm's Credentials - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a proven track record in securities class actions, highlighting its own success in recovering hundreds of millions for investors [4]. - The firm has achieved significant settlements, including over $438 million in 2019, and has been recognized as a leader in the field of securities class action litigation [4].

Core Viewpoint - A class action lawsuit has been filed against Fluor Corporation (FLR) by Berger Montague on behalf of investors who acquired shares between February 18, 2025, and July 31, 2025, alleging that the company misled investors regarding its financial guidance and undisclosed risks associated with major infrastructure projects [1][3]. Company Overview - Fluor Corporation, headquartered in Irving, Texas, provides engineering, procurement, construction, and project management services globally, with its Urban Solutions segment being the largest revenue contributor [2]. Lawsuit Details - The lawsuit claims that FLR and certain executives failed to disclose rising costs related to significant projects, including the Gordie Howe, I-635/LBJ, and I-35 projects, which were impacted by subcontractor design errors, material price increases, and scheduling delays [3]. - Additionally, the company is accused of underreporting the adverse effects of decreased client capital spending and broader economic uncertainties [3]. Financial Performance - In February 2025, FLR projected a full-year 2025 adjusted EPS of $2.25 to $2.75 and EBITDA of $575 million to $675 million, which was reaffirmed in May 2025 [4]. - On August 1, 2025, FLR reported disappointing second-quarter results, with a non-GAAP EPS of $0.43, missing consensus estimates by 23%, and revenue of $3.98 billion, which was $570 million below expectations and a 5.9% decline year-over-year [5]. - Following the release of these results, FLR significantly lowered its FY 2025 outlook, attributing the downturn to project delays and reduced client awards, leading to a stock price drop of $15.35, or 27.04%, closing at $41.42 [5].