I think you could, at a high level, say it is a starting point for 2020. Great. The largest one is AMECO, which will be -- we expect to sell maybe in Q3… But we do expect a gradual reduction of corporate G&A throughout 2020. That plan is under way and we will provide update later this year. Q3 2019 Fluor Corp Earnings Call 10/31/2019 08:30 AM (EDT) FLR. The E&C margin in the quarter and the forecast were better than we expected, and I know you did cite some close outs, but is the Q4 rate kind of the starting point for 2020, and how should we now think about the trajectory of the margin in that segment? 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. So we don't see a significant change in profile. New Scale expenses for the quarter were $14 million. Company Participants. So at this point, do you see any risk of further impairments? However, the company’s shares fell nearly 17% on Oct 31. The webcast link below is the preferred way to listen. Sure. Good afternoon, and welcome to the Fluor Corporation's Third Quarter 2019 Earnings Call. Restructuring of stores [Phonetic] continues to progress on schedule, and we anticipate this business will deliver improved results in 2020. We do see the cash flow generation capability of the business going forward remaining fairly solid even with the sale of government and American equipment. 2020 Q3 Earnings Documents ... News Release Conference Call Transcript 2019 10-K Earnings Conference Call Slides Form 10-K: Form 10-K & Proxy. Thanks, Jason, and good morning. Now if you'll turn to Slide 12, I'll conclude my comments by talking about our outlook for the fourth quarter. Mike? New awards for the quarter primarily reflect the timing of client FID decisions and are not the result of our revised pursued criteria. Now I'll turn the call over to Carlos Hernandez, Fluor's CEO. Good morning, gentlemen. Revenue will likely be around $4.05 billion, according to the consensus estimate. I'm just curious if you could talk about the strikes going on in Latin America, it's been a lot in the press. Today's call is being recorded. Although the company suspended guidance for 2019, we anticipate margins for the fourth quarter to be 4-5% for Energy & Chemicals, approximately 2% for mining and industrial, again approximately 2% for Industrial and Power, and 4-5% for Diversified Services. I'll let someone else get in. Fluor Corporation (FLR) CEO Carlos Hernandez on Q3 2020 Results - Earnings Call Transcript SA Transcripts Dec. 10, 2020 12:54 PM ET Fluor Corporation 2020 Q3 - Results - Earnings Call … In addition, the, the other activities will again be moving out of backward backlog as we go forward throughout 2020. Fluor Corp () Q1 2019 Earnings Call May. Carlos? Fluor’s Energy & Chemicals segment reported a segment profit of $85 million, compared to $50 million in the third quarter of 2018. Our Diversified Services segment reported new awards of $260 million and ending backlog was $2.4 billion. How much differently are those changing? It's going to be fairly flat to 2019, with the exclusion of, obviously with the exclusion of the government and AMICO businesses. And then when you look back, it seems like you have shared most of the investments that the previous management made over the last several years with the notable exception of new scale. Yeah, Mike, at this point that's not really impacting, we're basically doing FEEDs and feasibility studies are -- we have some projects ongoing as well, but, but at this point, it's not impacting our visibility into the future in an adverse way. With us today are Carlos Hernandez, Fluor's Chief Executive Officer and Mike Steuert, Fluor's Chief Financial Officer. © 2021 Fluor Corporation. Jason Landkamer -- Director, Investor Relations. do you do fewer JVs? For the 3rd quarter, new awards for the Energy & Chemicals segment were $256 million and ending backlog was $13.7 billion. Sangita Jain -- KeyBanc Capital Markets -- Analyst. Fluor helps clients meet their sustainability goals with a relentless focus on caring for people, communities and the environment. In addition, a portion of the restructuring charges from this quarter and going forward, also non-cash. Just on the corporate G&A expense. 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 21st. There is an inherent risk that actual results and experience could differ materially. We'll now take our next question from Jerry Revich from Goldman Sachs. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. And we're not going to take terms, and conditions that unduly put risk on us, and we're not going to agree to schedules that we can't--we can't meet. I was thinking of something else. Our available domestic cash improved from last quarter and now represents 28% of total cash and marketable securities. Most of our capex is really going to be to support our IT infrastructure and our office buildings, and we just see modest requirements there going forward in terms of investment. Form 10-K & Proxy. Do the numbers hold clues to what lies ahead for the stock? Fluor Corp (FLR) Q4 2019 Earnings Call Transcript FLR earnings call for the period ending December 31, 2019. ET. For continuing operations, earnings attributable to Fluor for the third quarter were a net loss of 782 million. Third quarter 2019 revenue was $1.6 billion compared to $1.9 billion a year ago. Today’s call is being recorded. Good morning, and welcome to the Fluor Corporation's 3Q 2020 Earnings Conference Call. With the understanding that you've removed government and Amico from continued operations, have your expectations for backlog changed a bit, given the cancellation or are you seeing any incremental delays on project awards? Contents: Prepared Remarks. What we're telling our salespeople is, what I'm telling our salespeople is, look, we're going to pursue excellence in execution, and that starts at the bid, no-bid stage. Let me correct something I said. So, there will be projects we will walk away from, for sure, but as I said earlier, I think that overall, we are in a very positive position in our, in our industry because of our ability to execute the large projects, our relationship with our clients, and the fact that others are not capable of managing risk, I think as we will be able to do so. Fluor Corp Q4 2019 Earnings Call Sep 25, 2020, 8:30 a.m. And my last question on the government business that you have up for sale, I understand that process is ongoing, and you can't share much but can you let us, share with us, how you think, whether it's going to be one large transaction or are you seeing multiple buyers and it could be broken up into pieces? As we move forward and generate cash, I don't think you're going to see us making similar investments. Analysts expect Fluor earnings of $0.28 per share. Our plan to divest these businesses are progressing well and we expect those sales to be complete within one year. Ladies and gentlemen, this concludes today's question-and-answer session. Contents: Prepared Remarks. Thanks for taking our questions. We worked closely with our consortium to develop a project model that appropriately leverages each party's strengths and capabilities. And clearly the Rovuma project met all of that criteria. Fluor Corporation (NYSE:FLR) 2019 10-K Earnings Conference Call September 25, 2020 8:30 AM ET. In terms of schedule, in terms of productivity, this is a stick-built project and we're going to, we feel very confident that that we have addressed all the risk issues here. First as we look at the charges that we took in the second quarter and some of our lost projects, we did experience modest outflows in the 3rd quarter. video celebrates Fluor's legacy as a construction leader, while demonstrating our continued self-perform construction capability. On behalf of chad. I just had a quick question on the bidding environment for oil and gas. Fluor ranks 181 on the FORTUNE 500 ® list, and employs a workforce of more than 45,000 worldwide. Government was a solid cash flow generator, but our remaining businesses are as well. Our 8-K was filed this morning, however, due to EDGAR issues, it has not posted. Yeah, that was a long-standing dispute that we had with a client, and it had been in arbitration for several years. [Operator Instructions] We'll pause for just a brief moment to allow everyone an opportunity to signal for questions. Mike, D. Michael Steuert -- Executive Vice President, Chief Financial Officer. Let's turn to slide 8. And we're not going to be making investments in the future that don't have a rigorous review in terms of its potential, or it's expected return. Carlos, can you step back and talk about the bookings environment as you see it? LIVE (US/Canada): +1 800-458-4148: International: +1 323-794-2093: That's basically what I'd be. Like LNG Canada, We have a good relationship with strong partners that have deep experience in the LNG space. And once we have the design substantially complete, and the vendor data substantially procured, then we're in a very good position to, to lump sum the balance of the project. We pursued a strategy of getting into fabrication and, and that strategy is a valid strategy, but we haven't had the success of the yard[Phonetic] that we expected, as early as we did. Carlos M. Hernandez -- Chief Executive Officer. And as we think about your long-term free cash potential, 2020 and beyond, how should we think about your capex for your continuing operations? Okay, great, thanks so much. Welcome to Fluor's third quarter 2019 conference call. And if so, how is the project funnel changed? ET. I appreciate the color. All Rights Reserved. That was actually the result of what we had, a pretty favorable or balanced terms and conditions and that is in, I think the $25 million to $30 million range. you know we've been having, Kevin, since since May 1, we've been having conversations with our major oil and gas customers, precisely about this issue of the bidding environment. Yeah, one of the, one of the differences between some of the competitors that have exited the mega infrastructure P3 of their large infrastructure projects is, we do have the capacity in the balance sheet to take on those projects, but we're not going to take on projects, for example, where we don't have the right team to execute. Thanks for that. Please go ahead, your line is open. Maybe we have that, but I didn't think you quantified it. Fluor’s 2019 Sustainability Report highlights how we are making a lasting impact on the world. Now looking ahead, we are pursuing additional road projects in Texas and remain confident in the strong prospects from our Fluor Heavy Civil Group. Q2 2019 Fluor Corporation Earnings Conference Call. Good question Jerry. Fluor Corp (NYSE:FLR)Q3 2019 Earnings CallOct 31, 2019, 8:30 a.m. Yeah, let me just add something to that. Call Participants. And, as I mentioned earlier, the project is, really meets our pursuit criteria. All of these items are consistent with what we communicated on our strategic and operational review call last month. We've had high level conversations with that customer with respect to what's happening in the industry in general, as far as the allocation of risk having been disproportionately shifted to the contractor. So until LNG Canada and some of the other big energy projects ramp-up, is this going to be the swing factors segment for overall profitability, do you think? We used approximately 70 million in cash based on the last projects [Phonetic] in the third quarter, we expect to fund roughly $250 million in the fourth quarter. So we expected address see all that, but at the same time, we are working on improving underlying operations and expect to have positive cash flow from the rest of our businesses. As highlighted in our strategic review, we have recorded $79 million in charges this quarter related to the Radford and Warren projects. We have a list of the criteria, and every project proposal or every package checks off whether the criteria is met or not, and that's now standard operating procedure in the view of projects. Where we've had issues with projects in the past, it's been either a function of timing overruns, issues getting change orders approved, or engineering design issues. Thanks. In the same quarter last year, Fluor reported EPS of … [Operator Instructions] We'll now take our next question from Andrew Kaplowitz from Citi. Hi, this is Kevin. This dividend reduces our cash usage by 15 million per quarter, and aligns our payout with -- other similar dividend paying companies. And then what are you telling your sales folks or your operating folks, relative to the new level of projects that you're bidding in the next, now for the next 6 to 9 months?
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