ET. Call Participants. So we wouldn’t come off of that $200 million range. But right now, we’re looking at about $0.5 billion projects that we’re continuing to execute from the previous two, three years that will flow into ’21. I guess, how many other projects out there right now that there are some need for resolution? And that would be a better thought process around how you could view E&C moving forward. So we’re not taking in bad projects. And he brings a unique combination of deep insight into Fluor and an outsider’s perspective. We'll take our next question from Sean Eastman with KeyBanc Capital Markets. And Sean, you're talking about the lost projects, if you will, that we're pulling into '21? Our cash balance at the end of the third quarter was $2.1 billion with 36% of that domestically available for use. And Alan, I would think that the incoming administration would be net positive toward this, I would think, given decarbonization, but I don't know if you have any observations there? That has gotten a lot of attention and has resulted in probably two fairly good opportunities to turn into projects here within 2021. So I think I don't want to be able to -- don't really want to say much more, but those are our main goals going through the strategy session. Our overall segment profit margin of 3.4% for the quarter is evidence of the work we have done over the last 18 months to stabilize the business. Okay. If you go back into the 3% -- nominally 3.1% run rate in E&C and you view some of the impacts that are dragging that number down to the 3%, they're really non-recurring issues. We now anticipate that we will divest this business in the first half of 2021. Edited earnings call transcripts of Fluor Corporation (FLR) stock. First one, I guess, probably kind of easy one. Good morning, and welcome to the Fluor Corporation 3Q 2020 Earnings Conference Call. Only about 7% of our projects are closed with the rest operating at normal, intermediate or limited capacity. But the Direct Finance Corporation of U.S. announced lifting their prohibition on lending for nuclear projects internationally. We expect to see margins increase as we wrap up these projects and are working through a healthier backlog. FLR earnings call for the period ending June 30, 2019. We can — when complete, this will be one of the world’s largest oil refining facility. We’ve had improvement in execution as it relates to those problem projects. There were no significant charges incurred in the third quarter. Justin Hauke -- Robert W. Baird & Co. -- Analyst. So is there any higher probability especially if these commodity prices continue their current trend to see more of these EPC projects non-energy in 2021 and beyond? Fluor is now current with its financials. Good morning. Yeah. Like I said before, it's not something we can negotiate all at once because situation or the effects are pretty lengthy. We are just significantly closer to the North American sale than we are the South American sale, but still slated for first half of ’21 for North America. And with this question, I guess, the fact that the cash balance has been relatively stable over the last 12 months yet your backlog is under pressure in new orders. The revised pursuit criteria that Carlos enacted has significantly reduced the risk in our backlog and has allowed our sales team to focus on high-quality projects where we can be profitable and successful. Cumulative Growth of a $10,000 Investment in Stock Advisor, Fluor Corp (FLR) Q3 2020 Earnings Call Transcript @themotleyfool #stocks $FLR, 3 Big Reasons Fluor Stock Jumped 52.2% in November, Why Shares of Construction and Materials Companies Are Falling Today, Why Fluor Stock Jumped 28.8% in October and Is Rallying Further, 5 No-Brainer Stocks to Buy if Joe Biden Wins in November, Copyright, Trademark and Patent Information. The majority of our projects have continued to safely and successfully progress in the field, and the projects we identified as problem projects last year have been holding to their revised cost forecast and schedule. And then maybe one more quickly for Joe. The site activities are progressing while maintaining all COVID-19 recommended and required measures and mitigations. Thanks a lot, Carlos, and best wishes to you. 10 December 2020: Q3 2020 Earnings Call Transcript Q4 2019. In May, the … So we don’t think that will change at all. Thanks. FLR earnings call for the period ending September 30, 2020. Business Wire. There were no significant charges incurred in the third quarter. » Fluor Q1 2010 Earnings Call Transcript » Fluor Corporation Q4 2009 Earnings Call Transcript Good afternoon, and welcome to Fluor Corporation Third Quarter 2010 Conference Call. And we thank you for your patience as we confronted the challenges of 2020. As we stand today, our cash balance is north of $2 billion, and we expect to maintain cash at this level through the end of the year. As previously mentioned, we are planning a strategy game in early 2021. Alan? So I think it would be better to have that discussion in the February timeframe when we have a little bit more color around it. I know that's probably too high, but it just has meaningful implications for 2021. But I would suggest that if I give you guidance around what that run rate may look like going forward, I’d say somewhere between $35 million to $45 million at this point. Therefore, on January the 1, David Constable will return to Fluor as our Chief Executive Officer. Fluor Corp Q1 2017 Earnings Call Transcript. Sean Eastman -- KeyBanc Capital Markets -- Analyst. Is that something that we should be thinking about going forward? So -- and they represent the lion's share of that balance. Fluor Corp (NYSE: FLR) Q2 2019 Earnings Call Aug 1, 2019, 5:30 p.m. Seeking Alpha 30d. There are number of projects in mining and have been for the last several months. Thanks a lot, Carlos, and best wishes to you. And I think also it is starting to make our mark in those industries where we can see potential growth. However, we continue to hear from a number of our oil and gas clients that they expect to have reduced capital spending plans over the next few years. And also maybe in the Government and Diversified Services, maybe a bit of some observations on recompetes, opportunities to grow backlog and generate better work in those two end markets. Fluor Corp (FLR) Q3 2020 Earnings Call Transcript. We will now take our final question from Michael Feniger with Bank of America. Fluor last issued its earnings data on December 10th, 2020. Fluor Corp (FLR) CEO David Seaton on Q4 2018 Results - Earnings Call Transcript seekingalpha.com February 22, 2019 Edited Transcript of FLR earnings conference call or … I'll start with a financial update on Slide 9. But I'm going to let Alan take that one. It sounds like your customers are not necessarily waiting for any strategy, but could you just talk a little bit more about what really is the thinking and driver of the project deferrals? Thanks. Additionally, the pandemic continues to impede our ability to start projects. Recognizing how your new focus on discipline on bidding on projects and the overall decline in the market, maybe you can highlight a couple of areas that you've seen in the last couple of months maybe heading into 2021 on the energy side where you're seeing some green shoots? Our cash balance is roughly equivalent to where we stood at the end of 2019. Fluor Corp (FLR) Q3 2020 Earnings Call Transcript. Can we wake up in the middle of 2021 or end of 2021 when the vaccine's out there, economy coming, yet there still are some litigation or charges? I guess, how many other projects out there right now that there are some need for resolution? Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. The project successfully negotiated an extension of time order with the client mitigating risk of schedule damages. But again, to Alan's comment, I don't want to get out in front of Mr. Constable's strategy meetings, but as we go through the strategy, we'll probably have a review of what that cash balance needs to be to support the organization and the brick and mortar footprint and some of the other things that will be a fallout of what the new strategy is moving forward. I’ve known David for many years. No, I can speak to the cash side of it. Hey, guys. Thanks. Motley Fool Transcribers, The Motley Fool. So can you just talk about those two items? It sounds like your customers are not necessarily waiting for any strategy, but could you just talk a little bit more about what really is the thinking and driver of the project deferrals? We continue to engage with our clients on how to proceed successfully and safely and have provided notices asserting our rights under change of law and force majeure provision. But — so, I’m going to be very general. Fluor Corp (FLR) Q3 2020 Earnings Call Transcript The Motley Fool. In the meantime, I've been working closely with David to ensure a smooth transition. Today's conference is being recorded. Call Participants. Moving to Slide 2. It’s a very good question. At 15? Good morning, everyone. I can give you a sense. And so we’re very close to them. Since we last spoke, we have been -- we have seen our projects continue to come back online and recover from the initial rounds of regulatory lockdowns and COVID cases. Thanks for that question. And so that $200 million is nominally somewhere between $50 million to $75 million at this point. How do we see that split as this business could be the big contributor to profit as well? There is an inherent risk that actual results and experience could differ materially. Why Fluor Stock Is Tumbling Today yahoo. Is it Justin, sorry? And we've seen over the last -- even during this last administration, a very strong bicameral support for this effort. Number one, Carlos mentioned the NRC approval, that's clearly one of the biggest ones. But really any of the new work that's going into the infra side of the business has just been booked in the previous quarter. The cash balance of $2 billion is impressive that it's got that level. Certainly, Government’s a little bit countercyclical and the Diversified Services certainly are impacted by COVID and small-cap projects being pressured. This project is another example of our focus on the Texas infrastructure market and is a testament to the value that TxDOT places on our services. And we have launched new procedures, training and communications packages to help transition our people back to work safely and finish the year strong. Now turning to Slide 6. And just one follow-up. Third quarter results were a net loss from continuing operations attributable to Fluor of $782 million, or $5.57 per diluted share, compared to net earnings of $69 million, or $0.49 per diluted share a year ago. Yeah. In November, the Maryland Department of Transportation reached a $250 million agreement in principle with the consortium to settle all of the consortium's outstanding claims. I really appreciate it. In terms of mining, commodity prices somewhat, but also COVID has impacted mining business maybe more than some of the other businesses. Calendar Earnings Calls Earnings Transcripts SEC Docs. In fact, we had set a target of $100 million. Fluor Corp (FLR) Q3 2020 Earnings Call Transcript. And he brings a unique combination of deep insight into Fluor and an outsider's perspective. I understand that's kind of normal course of the business. No, I can speak to the cash side of it. And the changes he put in place have quickly filtered across the Company. He has a deep understanding of our operations and opportunities and has a particular focus on effective risk management. And that's going to be a very important part of the going forward strategy. And it’s hard to resolve them because the impacts are still ongoing in some cases — in many cases. Contents: Prepared Remarks. So I think it would be better to have that discussion in the February timeframe when we have a little bit more color around it. This quarter, our Infrastructure segment booked the Oak Hill Parkway highway project in Austin for the Texas Department of Transportation. So we wouldn't come off of that $200 million range. So just maybe some of those observations to set things up as we look toward '21 and beyond? And even year-to-date, the cash from ops, it looks like the $144 million is up from a year ago, even with some of the losses that you guys talked about this year. I know that’s probably too high, but it just has meaningful implications for 2021. And just a point of clarification, it's not just the force majeure plan, it's something we call change of law because many of the impacts are the result of government directed lockdown. And Alan, I would think that the incoming administration would be net positive towards this, I would think, given decarbonization, but I don’t know if you have any observations there? Obviously, the termination of the Purple Line project has been a very favorable development for us because that's a large project, the legacy project, and we will be able to exit that project and avoid any future risks and costs there. Fluor Corporation (NYSE: FLR) will hold a conference call to review results for its third quarter ended September 30, 2019. And then just... One more point on that, Steven. And considering the new pockets of infrastructure build out over the next 10 years will be different from what we've seen in terms of heavy energy investment over, call it, the prior '20. Also, it was a pleasure working with you. Major construction activities include seven modules on foundations, completion of metering stations and continued completion of power and control scopes. I’ll start with a financial update on Slide 9. Thanks for that question, Andy. During today's presentation, we will be making forward-looking statements, which reflect our current analysis of existing trends and information. I don’t have the percentages. Well done, Carlos. Davidson & Co. Michael Dudas - Jefferies & Company, Inc. Fluor Q3 Results Miss Street Expectations MT Newswires 12/10 07:12 ET. Please go ahead, Mr. Landkamer. So we have been focusing on execution as we said back then and pay dividends. New awards for the quarter include a cell-based influenza vaccine manufacturing facility in Australia. Thank you, Joe. Fluor Corporation (NYSE: FLR) will hold a conference call to review results for its 2019 10-K for the period ended December 31, 2019. Logo of jester cap with thought bubble. Thanks for squeezing me in. I’ve got two here. So we have been focusing on execution as we said back then and pay dividends. Fluor Corp (FLR) Q3 2020 Earnings Call Transcript FLR earnings call for the period ending September 30, 2020. As we — as the world becomes more electrified and copper becomes more necessary, I expect that we will be seeing copper and coal projects coming up. So I think the actual unveiling of the markets we’re really going to tend to focus and push hard on. That's really helpful. And then I guess my second question just is on the bookings outlook, understanding COVID has implications. Results for the quarter includes $30 million of foreign currency transaction losses, $22 million of NuScale expenses and $19 million of internal investigation expenses. If not, I'll keep going. So it’s still — we’re working with the clients on some of these projects and have already reached some preliminary resolutions, which are favorable, but we still have a number of them to be resolved. Is that what we're thinking heading early into 2020 that we should be more on the 5% number? Yeah. Download the investor presentation - earnings call slides. Fluor Names Teri McClure as New Board Member Tuesday, 22 September 2020 yahoo. Fluor Corporation's (FLR) CEO Carlos Hernandez on Q2 2019 Results - Earnings Call Transcript | Seeking Alpha. And so backlog will decline somewhat, but it will be good backlog. This project has now been removed from our backlog. That's helpful. But I guess how advanced is that first half ’21 expectation? Although we did see increased project execution activity on our LNG project, the effects of COVID and normal project adjustments were reflected in Q1 because of our delayed reporting schedule this year. We can -- when complete, this will be one of the world's largest oil refining facility. We’re very pleased with the execution of all of our projects given what we took over in May of ’19. Okay, thanks. Thank you. Actually, obviously, the clients understand that COVID is impacting our projects. ET. And can you just help me understand with what you’re saying year-to-date, how much has like LNG Canada actually contributed to that number? So both sides of the equation are looking strong right now. G&A also reflects $19 million of investigation expenses. And it's hard to resolve them because the impacts are still ongoing in some cases -- in many cases. And again, it's not necessarily the same business group that was in the past. In the third quarter, we sold substantially all of our assets of our AMECO JAMECO business for $18 million net of working capital and recognized a loss of $1 million. , Carlos, and has also been a member of our offices are open and operating at a reduced of. To have extensive and ongoing communications with our banking community to spend, ahead. May discuss certain non-GAAP financial measures like $ 200-plus million of proceeds from AMECO a profile. Positioned to win these projects and are working through a registration link, also accessible Fluor. 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