Fluor
Corporation (NYSE: FLR) today announced that it will change the
reporting of its financial results to better reflect the diverse end
markets Fluor serves. Starting with first quarter results that will be
released on May 5, 2016, the company will report its financial results
based on the following business segments:
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Energy, Chemicals & Mining: This commodity-related segment
will focus on opportunities in the upstream, downstream, chemical,
petrochemical, offshore, LNG, pipeline and mining markets.
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Industrial, Infrastructure & Power: This segment includes
the markets of infrastructure, power, and life sciences & advanced
manufacturing, which predominately contract on a fixed-price basis.
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Maintenance, Modification & Asset Integrity: This
services-related segment, which is heavily focused on operating
expense (OpEx) related spending, includes the activities associated
with the recent acquisition of Stork combined with Fluor’s existing
operations and maintenance activities, its equipment rental-related
company (AMECO), its temporary staffing organization (TRS), and Power
Services.
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Government: The Government segment remains unchanged.
The following table shows the new reporting segments compared to the
prior reporting structure:
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Old
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New
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Segment: Oil & Gas
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Segment: Energy, Chemicals & Mining
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Includes: Upstream, downstream, refining, chemical,
petrochemical, offshore, LNG and pipeline
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Includes: Upstream, downstream, refining, chemical,
petrochemical, offshore, LNG, pipeline and mining
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Segment: Industrial & Infrastructure
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Segment: Industrial, Infrastructure & Power
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Includes: Infrastructure, Mining, Industrial Services -
Life Sciences & Advanced Manufacturing, Operations & Maintenance
(Fluor legacy)
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Includes: Infrastructure, Power EPC, NuScale, Life
Sciences & Advanced Manufacturing
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Segment: Power
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Power EPC and NuScale included in Industrial, Infrastructure &
Power
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Includes: Power EPC, Power Services (Fluor legacy), NuScale
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Power Services (Fluor legacy) included in MMAI
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Segment: Global Services
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Segment: Maintenance, Modification & Asset Integrity (MMAI)
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Includes: AMECO, TRS
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Includes: Stork (incl. Fluor legacy O&M), AMECO, TRS,
Power Services (Fluor legacy)
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Segment: Government
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Segment: Government
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Financial Information
Unaudited segment information by quarter and year for 2014 and 2015
under the new reporting structure will be available in an 8-K filed
today and on the company’s web site at http://investor.fluor.com.
About Fluor Corporation
Fluor
Corporation (NYSE: FLR) is a global engineering, procurement,
fabrication, construction and maintenance company that designs, builds
and maintains capital-efficient facilities for its clients on six
continents. For more than a century, Fluor has served clients by
delivering innovative and integrated solutions for our clients across
the globe. With headquarters in Irving, Texas, Fluor ranks 136 on the FORTUNE
500 list with revenue of $18.1 billion in 2015 and has 59,000
employees worldwide. For more information, please visit www.fluor.com
or follow us on Twitter @FluorCorp.
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