We use Google Analytics to count anonymous page views and understand which content gets read. No ads, no profiles. Decline keeps you on cookieless mode. Details.
Fluor Corporation
Industrials · Construction & Engineering
STRUCTURAL - pure-play EPC on the three megatrend capex cycles: (1) LNG export buildout (Driftwood, Rio Grande, Calcasieu Pass II adjacent), (2) advanced-tech mega-facilities (semis fabs, hyperscale data centers, lithium/battery), (3) US DOE/DOD nuclear cleanup + new-build SMR via 56%+ stake in $SMR (NuScale).
Backlog ~$30B+ skewed toward reimbursable (lower-margin, lower-risk) post-2020 fixed-price restructuring.
- $SMR stake alone re-rated to multi-billion mark-to-market; Fluor sum-of-parts trades at discount to NuScale carry + core EPC
- LNG Phase 2 cycle (US export capacity doubling 2025-2028) routes through Fluor + $KBR + $MDR as primary EPC trio
- Hyperscaler + semi-fab capex (Intel, TSMC AZ, Micron NY) feeds Urban Solutions backlog
- DOE Hanford/Savannah River cleanup contracts are recurring, cost-plus, decade-long
- Reimbursable mix shift de-risks the historical fixed-price blowup pattern (2018-2020)
- Sum-of-parts thesis depends on $SMR price - NuScale is pre-revenue, deployment slipping right
- Fixed-price legacy projects still bleed; project-charge headlines recur quarterly
- Margins structurally thin (mid-single-digit EBIT) vs $PWR or $J pure-utility comps
- Capex cycle is cyclical - LNG FIDs pause if Henry Hub strip collapses or permitting freezes
Each weekday: the scan's ENTER setups with entry, stop and target, every new ticker teardown, and the bubble shifts that move names like this one. Free. Education, not advice.
No spam. One email per day max. Pro adds Telegram trade alerts and higher AI-assistant limits.
- Government segment exposed to continuing-resolution + DOGE-style federal cost reviews
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.