So both sides of the equation are looking strong right now. I am pleased to say that over the past month we have started to see these projects remobilize and expect to see revenues follow suit as they get fully back online. Fluor Corp (NYSE: FLR) Q2 2019 Earnings Call Aug 1, 2019, 5:30 p.m. I just wanted to confirm how much zero margin work is left in the backlog as of the third quarter and how much is expected to be remaining going into 2021. Fluor Corp (FLR) Q3 2020 Earnings Call Transcript The Motley Fool. And now to Slide 5. Any context you can provide there on that? Just following up on Steve’s question, it sounds like we get a little bit more visibility on the impact of COVID for LNG Canada. In our advanced technologies and life sciences business, we completed the Novo Nordisk project in North Carolina in the third quarter. 108.44K Followers. And we are truly thankful for his contribution and wish him well in his much-deserved retirement. Fluor Corp. operates as a holding company. For our lost projects, we have approximately $100 million left to fund in the fourth quarter, and then marginal -- and then a marginal impact beyond this year. So -- and they represent the lion's share of that balance. Did you say or can you say — do you expect a resolution on the force majeure decision in 2021 on LNG Canada in particular or could that take then beyond that? Corporate G&A expenses in the quarter were $68 million. Turning to Slide 7. 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. But I would call this, most of the cash generation you’re seeing is through organic decisions and actions that the company is taking currently. All right. As an investor, I look forward to seeing great things in Fluor's future. Turning to Slide 11. 543 is the number that came out of backlog for Purple Line. I think the way it probably will play out in LNGC is we'll probably have a partial resolution with respect to the impacts to date. 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. COOEC-Fluor Awarded Fabrication Contract for … And then some of the new work like Oak Hill that we just booked into, we’ll start to kind of balance that out as we move forward. Hi. Okay. 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. I can give you a sense. ET Prepared … Fluor Corp (FLR) Q3 2020 Earnings Call Transcript - Flipboard Flipboard Home Read or listen to the conference call. I'll take the question. That’s super helpful. 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. Fluor’s 2019 Sustainability Report highlights how we are making a lasting impact on the world. Backlog that we're taking in is very, very much based on the discipline that we've established early on in 2019. Moving on to our Mining & Industrial segment. On an adjusted basis, the company reported earnings, BlackRock (NYSE: BLK) reported fourth-quarter 2020 financial results before the regular trading hours on Thursday. In terms of cash that we're going to spend, go ahead and answer. We want to come into the equity side with NuScale. Got it. Okay. January 08, 2020 04:20 PM Eastern Standard Time . Ongoing COVID impact and travel restrictions in China are hampering the progress, but mitigation actions are being taken. Fluor Corporation Earnings call transcriptions Compare. Carlos? So I’m going to save for David and his team to unveil in our Investor Day coming up in early 2021. How much is COVID? Recent call transcripts of Fluor Corporation. 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. 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. And then in terms of -- maybe just to pick up on the strength of the company along the areas where there is perceived growth, hydrogen infrastructure, obviously copper, you alluded to. I guess, anything we should be aware of that has benefited you this year that might reverse on the cash from op side in 2021? In regards to NuScale, while we previously stated 2020 expenses would be fully funded by investors, investment decision delays due to the pandemic have required Fluor to provide $15 million of the funding in the third quarter. And he is looking forward to reconnecting and with the rest of the investment community soon. Questions and Answers And then, starting to pay down debt against that balance sheet to improve the strength of the balance sheet is another important part of the going forward strategy. Our operating cash flow for the quarter was $80 million with free cash flow of $58 million. We believe that our clients will focus on advantaged, high value projects that can generate returns in a weak commodity price environment. Government well. Outside of NuScale, what are the company’s capabilities today spilling the beans on the Strategy Day? Thank you. Fluor: Q3 Earnings Insights. Thanks. Michael Feniger -- Bank of America Merrill Lynch -- Analyst. Got it. Now turning to Slide 6. I’d like to now speak a bit about the CEO succession. I’ll try turning it over again so my colleagues get a chance. Our cash balance at the end of the third quarter was $2.1 billion with 36% of that domestically available for use. So if you look at the corporate G&A expenses, the underlying number is running quite low year-to-date. Right now, we’re nominally about $500 million that we’re going to be pulling from previous backlog into 2021 and beyond. The cash balance of $2 billion is impressive that it's got that level. Is that what we’re thinking heading early into 2020 that we should be more on the 5% number? And have customers in general agreed to the new completion dates and/or agreed to force majeure as you talked about or might we see more noise around some of your projects until COVID stays? And we’re in the process of resolving some of those to this point in time. We expect to see margins increase as we wrap up these projects and are working through a healthier backlog. 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? Have you sensed any increased willingness from your clients to open the spigots and start spending again outside of E&C? What do you need to see before we're deploying cash as a completion of LNG Canada? Motley Fool Transcribers (MFTranscribers) Dec 10, 2020 at … So just maybe some of those observations to set things up as we look towards ’21 and beyond? It’s great to be talking with all of you again, and I’m pleased to report back with this morning’s 10-Q filing. The changes we made in this company were necessary to set us up for the next chapter. We continue to believe that we have ample liquidity to meet the demands of current projects and future prospects. So we wouldn’t come off of that $200 million range. And we’ve seen over the last — even during this last administration, a very strong bicameral support for this effort. Joe? Understood. This quarter, our Infrastructure segment booked the Oak Hill Parkway highway project in Austin for the Texas Department of Transportation. Carlos, thanks for all your help. In the third quarter, we also divested EQIN toward professional equipment rental business in Europe. And when we talked about to Jamie’s question earlier, the 3.1% margin like year-to-date E&C, it actually sounds like it’s higher if we exclude some charges. Price US$ 54.00 | Buy this Report Now. Yeah. Major construction activities include seven modules on foundations, completion of metering stations and continued completion of power and control scopes. That has gotten a lot of attention and has resulted in probably two fairly good opportunities to turn into projects here within 2021. That’s good. We’ll take our next question from Michael Dudas with Vertical Research. So just to follow-up on Jamie’s question about the project deferrals and activities. But it's the balance sheet now that's our strong focus. This project has now been removed from our backlog. Moving on to our Mining & Industrial segment. And it looks like actually maybe there was a rescoping going through the Q, but the reconciliation shows that maybe something came back in. And then just…. So is that the way to think about E&C margin generally going forward? Thanks for that question. Is some pretty big milestones can we anticipate on that front, whether it's a new project or more support on the development or investment side? Contents: Prepared Remarks. Is margin being recognized above that range as you guys start to build out that project? I think it varies by business segment. I know they’re pushed out. How much is COVID? Before handing the call over to Joe for a financial update, I'd like to provide you a high level outlook of what's going on in our various business segments and some specific project commentary. 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. Yeah. Image source: The Motley Fool. That has gotten a lot of attention and has resulted in probably two fairly good opportunities to turn into projects here within 2021. With respect to oil and gas, obviously, oil prices are a big form factor there. And I think that the discussions are very collaborative for the most part. Two, I think the cost optimization program has been very, very beneficial. Okay, that’s fair. A telephone replay will also be available for seven days through a registration link, also accessible on Fluor’s website at investor.fluor.com. And thanks to all of you for participating on our call today. On TCO, re-mobilization continues as the COVID situation in Tengiz and Western Kazakhstan has improved. In fact, if anything, it may get a little bit extra for us. Good morning, and welcome to the Fluor Corporation’s 3Q 2020 Earnings Conference Call. I think that we did call it out to kind of take a look at the nine months run rate, Andy. I guess, I mean, I understand you’re not being pushed back. With us today are Alan Boeckmann, Fluor's Executive Chairman; Carlos Hernandez, Fluor's Chief Executive Officer; and Joe Brennan, Fluor's Chief Financial Officer. Can you just talk about conceptually what signpost we should look forward to see when you folks might be deploying capital, again once we are continuing with the turnaround here? As Carlos has put us on a stable operating platform, the board recognized that it was time for the succession to allow us to move forward with a CEO that will own the forward strategy for the next time frame. Fluor Corp. (FLR) Q3 2020 Earnings Call Transcript December 10, 2020 December 10, 2020 Fluor Corp (NYSE: FLR) Q3 2020 earnings call dated Dec. 10, 2020 Corporate Participants: Jason Landkamer -- Director, Investor Relations Carlos M. Hernandez -- Chief Executive Hi. So I can’t tell you the magnitude, but I can tell you that it’s obviously a recognized cost and schedule impact that we’re working with the clients to address in an equitable way. Well, in terms of earnings, we’re on plan. There were no significant charges incurred in the third quarter. Sean Eastman -- KeyBanc Capital Markets -- Analyst. Benzinga - 1 month ago. Shares of Fluor (NYSE:FLR) decreased 1.2% in pre-market trading after the company reported Q3 results. But I guess how advanced is that first half '21 expectation? Contact; Login; Join; US; Earnings Transcripts. There is an inherent risk that actual results and experience could differ materially. 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