Fluor Announces New Reporting Segments
April 14 2016 - 8:00AM
Business Wire
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:
- Energy, Chemicals & Mining:
This commodity-related segment will focus on opportunities in the
upstream, downstream, chemical, petrochemical, offshore, LNG,
pipeline and mining markets.
- Industrial, Infrastructure &
Power: This segment includes the markets of infrastructure,
power, and life sciences & advanced manufacturing, which
predominately contract on a fixed-price basis.
- 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.
- Government: The Government
segment remains unchanged.
The following table shows the new reporting segments compared to
the prior reporting structure:
Old New
Segment: Oil & Gas
Segment: Energy, Chemicals
& Mining
Includes: Upstream, downstream, refining,
chemical, petrochemical, offshore, LNG and pipeline
Includes: Upstream, downstream, refining, chemical,
petrochemical, offshore, LNG, pipeline and mining
Segment: Industrial & Infrastructure
Segment:
Industrial, Infrastructure & Power
Includes:
Infrastructure, Mining, Industrial Services - Life Sciences &
Advanced Manufacturing, Operations & Maintenance (Fluor legacy)
Includes: Infrastructure, Power EPC, NuScale, Life Sciences
& Advanced Manufacturing
Segment: Power
Power EPC and NuScale included in Industrial, Infrastructure &
Power
Includes: Power EPC, Power Services (Fluor legacy),
NuScale Power Services (Fluor legacy) included in MMAI
Segment: Global Services
Segment: Maintenance,
Modification & Asset Integrity (MMAI)
Includes: AMECO,
TRS
Includes: Stork (incl. Fluor legacy
O&M), AMECO, TRS, Power Services (Fluor legacy)
Segment: Government
Segment: Government
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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version on businesswire.com: http://www.businesswire.com/news/home/20160414005226/en/
Fluor CorporationMedia RelationsBrian Mershon,
469-398-7621orBrett Turner, 864-281-6976orInvestor RelationsGeoff
Telfer, 469-398-7070orJason Landkamer, 469-398-7222
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