Advertisement
YOU ARE HERE: LAT HomeCollectionsFluor
IN THE NEWS

Fluor

FEATURED ARTICLES
BUSINESS
July 29, 2004 | Dawn Wotapka, Times Staff Writer
Fluor Corp. reported lower earnings for the second quarter Wednesday despite a 46% increase in new-project awards during the period. The Aliso Viejo-based engineering and construction company said its second-quarter net income fell to $44.8 million, or 54 cents a share, from $45 million, or 56 cents, during the same period a year ago. That met analysts' average expectations of 54 cents, according to Thomson First Call. Revenue was unchanged at $2.2 billion.
ARTICLES BY DATE
BUSINESS
November 11, 2009 | Bloomberg News
U.S. stocks fell following six straight gains for the Standard & Poor's 500 Index as earnings disappointed investors at MBIA Inc. and Fluor Corp. and a rebound in the dollar weighed on commodity prices. MBIA, the world's largest bond insurer, slumped 20 percent after posting a $727.8 million loss on insured credit derivatives. Fluor sank 7.3 percent after cutting its full-year earnings forecast. Exxon Mobil Corp. and Newmont Mining Corp. declined as oil and metal prices slid. The dollar rose from an almost 15-month low against the currencies of major trading partners, diminishing the appeal of commodities.
Advertisement
BUSINESS
August 1, 1985
Escrow on the $340-million deal closed following eight hours of document signing. Trammell Crow Co., in partnership with Winthrop Financial Associates of Boston, acquired the property. Fluor, an Irvine engineering and construction company, is selling its assets in response to a prolonged slump in the worldwide engineering market. Trammell Crow said it plans to build hotels, office buildings and retail space on the 122 acres surrounding Fluor's headquarters, which the company is leasing back.
BUSINESS
June 29, 2007 | From Times Wire Services
Irvine-based Fluor Corp., Dyncorp International Inc. and KBR Inc., a former unit of Halliburton Co., were awarded parts of a U.S. Army contract with a combined potential value of as much as $150 billion to provide services to the military in the Middle East. The contract, the Logistics Civil Augmentation Program (LOGCAP) IV, would be worth as much as $5 billion a year in business for each of the companies, with the potential duration of 10 years.
BUSINESS
November 13, 1985
Fluor Corp. said its Daniel International Corp. unit won a $15 million contract from General Electric Co. for design and construction work on a waste-water treatment plant at GE's plastics manufacturing factory in Mt. Vernon, Ind. In addition to the treatment plant work at the GE site, Daniel already is designing an office building and laboratory and designing and building air pollution equipment for a steam generation unit.
BUSINESS
February 27, 1986
Fluor Corp. said its Daniel International unit was awarded a $7.8-million contract to build a waste-to-energy facility for Westinghouse Electric Corp. in Panama City, Fla. Irvine-based Fluor said the facility, the Bay Resource Management Center, will burn about 510 tons of solid waste daily and produce about 13 megawatts of power, enough to serve the needs of about 5,000 homes. Technology for the power plant was developed by Westinghouse's O'Connor Combustor Corp. unit in Fullerton.
CALIFORNIA | LOCAL
March 24, 1987 | Jeffrey A. Perlman \f7
Former Fluor Corp. political adviser and congressional aide Deborah Kurilchyk of Irvine has been named an assistant to U.S. Energy Secretary John S. Herrington. Kurilchyk, who directed Fluor's political action committee until last year, will serve as Herrington's assistant liaison to the House of Representatives. Before joining Fluor, Kurilchyk was a aide to Rep. Robert E. Badham (R-Newport Beach). Recently, she had been a self-employed political consultant.
BUSINESS
February 28, 1987 | LESLIE BERKMAN, Times Staff Writer
Fluor Corp. said Friday that it is suspending its quarterly dividend in an effort to raise funds to acquire other engineering and construction companies and to accelerate its gold mine production. Irvine-based Fluor's first-ever dividend suspension is expected to save the company nearly $32 million a year. Fluor, which has sustained two consecutive years of net losses despite attempts to cut costs and diversify into non-energy fields, has been paying dividends of 10 cents per share since 1984.
BUSINESS
August 26, 1987 | LESLIE BERKMAN, Times Staff Writer
In a move that will give it a sorely needed funds, the Fluor Corp. said Tuesday that it has agreed to sell its 90% interest in St. Joe Gold Corp. and other gold properties to an Australian mining company for $500 million in cash. The buyer, a subsidiary of Dallhold Investments Pty. Ltd., was described as the second-largest gold producer in Australia. It has made a $50-million deposit on the deal, which is expected to close by Oct. 31.
BUSINESS
September 25, 1987 | LESLIE BERKMAN, Times Staff Writer
In a move that may stall Fluor Corp.'s $500-million sale of its 90% interest in St. Joe Gold, a venture partner in the mining concern is contending it has a prior right to buy a Northern California operation it owns with St. Joe. Yuba Natural Resources, a San Diego-based company, is the joint venture partner with St. Joe Gold's Placer Service Corp.
BUSINESS
March 2, 2006 | From Reuters
Engineering and construction company Fluor Corp. reported higher profit in the fourth quarter, helped by a favorable tax audit settlement. The Aliso Viejo company said net income was $65.1 million, or 74 cents a share, compared with $47.9 million, or 57 cents, a year earlier. Revenue rose 45% to $4 billion, reflecting strong growth in all of Fluor's business sectors, the company said.
BUSINESS
January 26, 2006 | From Reuters
Engineering and construction group Fluor Corp. of Aliso Viejo expects new orders during 2005 to be in line with figures for 2004, its top executive said Wednesday. "We see a very strong new order trend. 2004 was our best year ever. 2005 ... could be the same range as in 2004," Chief Executive Alan Boeckmann said at the World Economic Forum in Davos, Switzerland.
BUSINESS
November 4, 2005 | From Associated Press
Construction firm Fluor Corp. said its third-quarter earnings surged past Wall Street estimates because of high revenue and a gain from an overturned judgment against the company. Aliso Viejo-based Fluor, whose projects include refineries, power plants and factories, earned $131.2 million, or $1.51 a share, more than double the year-earlier net income of $47.3 million, or 57 cents. Revenue totaled $3.42 billion, up 45% from last year's $2.36 billion.
BUSINESS
November 2, 2005 | Peter Pae, Times Staff Writer
Fluor Corp. has agreed to pay the federal government $12.5 million to resolve a whistle-blower suit that the Aliso Viejo-based construction and engineering company padded bills for government work in the mid-1990s. The settlement ends a five-year legal battle initiated by Cosby Coleman, a former senior finance manager, who alleged that Fluor improperly billed the federal government for company overhead expenses that were not directly related to government contracts.
BUSINESS
October 10, 2005 | From Bloomberg News
Fluor Corp., the biggest publicly traded U.S. construction and engineering company, won a $1-billion contract to expand gas processing facilities in the Persian Gulf, benefiting from a regional construction boom. The work is for the Habshan Gas Complex in the United Arab Emirates and will be finished in the middle of 2008, said Abu Dhabi Gas Industries Ltd., or Gasco, as it's also known. The company, majority owned by the Abu Dhabi government, didn't give any more details.
BUSINESS
August 24, 2005 | From Reuters
Engineering and construction firm Fluor Corp. said that it had settled all outstanding disputes with an owners' group on its Hamaca oil project in Venezuela and that arbitration proceedings had been dismissed. The settlement will take deferred project costs off Fluor's balance sheet, and the Aliso Viejo-based company will recognize a gain of $30 million in pretax earnings, Fluor said in a regulatory filing.
BUSINESS
March 12, 1985 | JOHN O'DELL, Times Staff Writer
The Federal Deposit Insurance Corp.'s bank liquidation division is in line to become the second major tenant to rent space in Fluor Corp.'s massive engineering compound in Irvine, The Times learned Monday. The government agency currently rents three large buildings in a sprawling commercial complex in Costa Mesa to house the 300 employees of its Southern California bank liquidation office but is planning to add 100 employees and has run out of room, agency officials have said.
BUSINESS
April 30, 1989 | TOM FURLONG, Times Staff Writer
Cooper Cos., a health-care products maker in Northern California in the process of selling its businesses, took the honors for 1988's biggest nose dive, posting losses of more than $150 million. Other notable dives were performed by Northrop Corp., the aerospace giant, and Tandon Corp., the computer company whose fortunes in recent years have paralleled Magic Mountain roller-coaster rides. Comeback-of-the-year award goes, without doubt, to Bank of America, once again the country's second-largest bank; its parent company earned $547 million last year.
BUSINESS
August 9, 2005 | From Reuters
Engineering and construction company Fluor Corp. on Monday reported a net loss in the second quarter because of a charge from a project lawsuit. Fluor said the net loss was $16.4 million, or 19 cents a share, contrasted with a profit of $44.8 million, or 54 cents, a year earlier. The loss resulted from a charge of $65 million, or 77 cents a share, after Fluor lost a lawsuit against the developer of a resort hotel in the Cayman Islands in the Caribbean.
BUSINESS
June 25, 2005 | From Bloomberg News
Fluor Corp., the biggest publicly traded U.S. construction and engineering company, said it would take a $60-million charge after losing a lawsuit. A jury in federal court in New York awarded $28.8 million in damages to the developer of a luxury resort hotel in the Cayman Islands that had been sued by Fluor Daniel Caribbean, a Fluor Corp. subsidiary, in a contract dispute. Aliso Viejo-based Fluor plans to take the charge to its second-quarter earnings. It also said it would appeal the verdict.
Los Angeles Times Articles
|