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Researched by Industrial Info Resources (Sugar Land, Texas)--Fluor Corporation (NYSE:FLR) (Irving, Texas), a global provider of engineering, procurement and construction (EPC) services, is involved in more than $180 billion worth of active projects, according to Industrial Info's project database. These include about $8.4 billion worth that are expected to begin construction and about $4.8 billion worth that are expected to finish construction in second-quarter 2018.
Fluor's consolidated backlog at the end of 2017 was $30.9 billion, compared with $45 billion at the end of 2016; new awards for the year totaled $12.6 billion, compared with $21 billion in 2016. Capital expenditures for 2017 were reported to be $283.1 million, a 20% increase from the previous year.
"The really sizable projects that are in front of us right now are primarily in oil and gas, with mining second, and then I would say infrastructure is following behind that," said David Seaton, the chief executive officer of Fluor, in a recent earnings-related conference call.
One of the largest U.S.-based projects involving Fluor set to begin construction in the second quarter is Pure Energy Resources LLC's (Burlington, Massachusetts) $860 million Trumbull Energy Center in Lordstown, Ohio. The facility will generate 940 megawatts (MW) from two combustion turbines and a steam turbine, each supplied by Siemens AG (Munich, Germany). It is currently expected to wrap up in late 2020.
The Lordstown project is one of five large gas-fired power projects, totaling about $4.9 billion in value, that are scheduled to kick off in Ohio before the fourth quarter, according to Industrial Info's North American Industrial Project Platform. For more information, see Industrial Info's project report and December 29, 2017, article - Ohio Gas-Fired Power-Plant Buildout Underway.
Among the infrastructure-related projects set to begin construction in the near term is Palmetto Railways' (Charleston, South Carolina) $130 million Brownfield Navy Base Intermodal Facility in Charleston, South Carolina. Located on the former Charleston Naval Complex, the 90-acre facility will also include a 1.2-mile road and a new road interchange. Construction is wrap up in second-quarter 2019. For more information, see Industrial Info's project report.
One of the largest projects involving Fluor that is nearing completion is Procter & Gamble Company's (NYSE:PG) (Cincinnati, Ohio) $500 million personal care and household products plant in Martinsburg, West Virginia, which is in its final commissioning phase. The complex comprises a one-story main facility and five smaller buildings, totaling 4.8 million square feet. It will produce popular items such as shampoos, body washes, fabric softeners and other personal care and household products. For more details, see Industrial Info's project report.
In Fluor's earnings-related conference call, Seaton noted the recently enacted U.S. tax reform legislation likely will help some of the non-energy industries served by Fluor: "Tax reform is good, but it's not going to drive [the Oil & Gas Industry's] decision-making. Most of their projects are global in nature... Where I think it's going to really have a benefit is in advanced manufacturing, pharmaceuticals, some of the fine chemical work that we do. It helps those companies become very competitive, particularly with the U.S. manufacturing base, much more competitive on a global scale, and much more comfortable to invest in that uprating or increased capacity, or even a new facility. We're tracking us a lot of those projects in the manufacturing sector."
On the West Coast, Fluor is at work on two refining-related projects for Andeavor Corporation (NYSE:ANDV) (San Antonio, Texas) that are set to finish construction in the coming months: the $170 million addition of a naphtha isomerization unit at a refinery in Anacortes, Washington, and the $75 million addition of a sulfuric acid regeneration unit at a refinery in Wilmington, California.
The 10,000-barrel-per-day (BBL/d) naphtha isomerization unit will convert paraffins from low to high octane and reduce sulfur in gasoline, while the other will recycle 400 tons per day of spent sulfuric acid. For more information, see Industrial Info's reports on the Anacortes and Wilmington projects.
Fluor's revenues for 2017 were reported to be $19.5 billion, a 2.5% increase from 2016; net earnings stood at $191.4 million, a 32% decrease.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
Fluor's consolidated backlog at the end of 2017 was $30.9 billion, compared with $45 billion at the end of 2016; new awards for the year totaled $12.6 billion, compared with $21 billion in 2016. Capital expenditures for 2017 were reported to be $283.1 million, a 20% increase from the previous year.
"The really sizable projects that are in front of us right now are primarily in oil and gas, with mining second, and then I would say infrastructure is following behind that," said David Seaton, the chief executive officer of Fluor, in a recent earnings-related conference call.
One of the largest U.S.-based projects involving Fluor set to begin construction in the second quarter is Pure Energy Resources LLC's (Burlington, Massachusetts) $860 million Trumbull Energy Center in Lordstown, Ohio. The facility will generate 940 megawatts (MW) from two combustion turbines and a steam turbine, each supplied by Siemens AG (Munich, Germany). It is currently expected to wrap up in late 2020.
The Lordstown project is one of five large gas-fired power projects, totaling about $4.9 billion in value, that are scheduled to kick off in Ohio before the fourth quarter, according to Industrial Info's North American Industrial Project Platform. For more information, see Industrial Info's project report and December 29, 2017, article - Ohio Gas-Fired Power-Plant Buildout Underway.
Among the infrastructure-related projects set to begin construction in the near term is Palmetto Railways' (Charleston, South Carolina) $130 million Brownfield Navy Base Intermodal Facility in Charleston, South Carolina. Located on the former Charleston Naval Complex, the 90-acre facility will also include a 1.2-mile road and a new road interchange. Construction is wrap up in second-quarter 2019. For more information, see Industrial Info's project report.
One of the largest projects involving Fluor that is nearing completion is Procter & Gamble Company's (NYSE:PG) (Cincinnati, Ohio) $500 million personal care and household products plant in Martinsburg, West Virginia, which is in its final commissioning phase. The complex comprises a one-story main facility and five smaller buildings, totaling 4.8 million square feet. It will produce popular items such as shampoos, body washes, fabric softeners and other personal care and household products. For more details, see Industrial Info's project report.
In Fluor's earnings-related conference call, Seaton noted the recently enacted U.S. tax reform legislation likely will help some of the non-energy industries served by Fluor: "Tax reform is good, but it's not going to drive [the Oil & Gas Industry's] decision-making. Most of their projects are global in nature... Where I think it's going to really have a benefit is in advanced manufacturing, pharmaceuticals, some of the fine chemical work that we do. It helps those companies become very competitive, particularly with the U.S. manufacturing base, much more competitive on a global scale, and much more comfortable to invest in that uprating or increased capacity, or even a new facility. We're tracking us a lot of those projects in the manufacturing sector."
On the West Coast, Fluor is at work on two refining-related projects for Andeavor Corporation (NYSE:ANDV) (San Antonio, Texas) that are set to finish construction in the coming months: the $170 million addition of a naphtha isomerization unit at a refinery in Anacortes, Washington, and the $75 million addition of a sulfuric acid regeneration unit at a refinery in Wilmington, California.
The 10,000-barrel-per-day (BBL/d) naphtha isomerization unit will convert paraffins from low to high octane and reduce sulfur in gasoline, while the other will recycle 400 tons per day of spent sulfuric acid. For more information, see Industrial Info's reports on the Anacortes and Wilmington projects.
Fluor's revenues for 2017 were reported to be $19.5 billion, a 2.5% increase from 2016; net earnings stood at $191.4 million, a 32% decrease.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
