Fluor (FLR) Completes Puerto Rico's High Priority Power Line
Zacks Investment Research | Nov 19, 2017 09:22PM ET
Fluor Corporation (NYSE:FLR) recently announced the completion of a high priority 38kv power line close to San Juan. The company was working under a contract with the U.S. Army Corps of Engineers (“USACE”). The high priority power line will enable Puerto Rico Electric Power Authority to re-energize lines, serving an area of Carolina that consists of a hospital as well as residential neighborhoods.
The contract called for power grid restoration and repair & replacement of structures and equipment supporting the re-energization. It also involved recommissioning of electrical infrastructure in eastern Puerto Rico.
Existing Business Scenario
Fluor has a solid track record of receiving awards. Management remains optimistic about continuation of this trend in the future as well, which is expected to drive growth. The company has strong long-term prospects in fields like in renewable energy, gas-fired combined cycle generation and air emissions compliance projects.
Based on the present trends, Fluor remains confident that it will secure two major EPC mining projects in the next few quarters. The company’s healthy level of backlog in infrastructure, government, life sciences and advanced manufacturing has allowed it to offset multiyear declines in mining, metals, and oil & gas markets.
Fluor has returned 25.4% in the past three months, outperforming the Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.