Fluor, an Irving, Texas-based contractor, remains focused on capturing key opportunities despite an upcoming leadership change. The company’s CEO-designate Jim Breuer announced that David Constable will succeed him as executive chairman on May 1.
Breuer stated that data centers will continue to be a key growth driver for Fluor, citing recent agreements with major technology providers and initial work under the deal. The firm is in conversations or has agreements with the top four data center developers and sees this market as a significant contributor to its strategy.
Fluor’s energy business will also benefit from growing demand for power solutions, an area where the company has seen an opportunity. The firm is engaged in front-end design for the expansion of a nuclear power plant in Romania and sees a broader role for nuclear power in meeting the power needs of hyperscale data centers in the U.S.
Additionally, Fluor is navigating the commercialization of NuScale, a small modular reactor firm in which it holds a significant stake. The company remains in negotiations to monetize its position while advancing NuScale’s push toward deployment.
The firm reported steady progress on several major projects, including the Gordie Howe International Bridge and the LAX Automated People Mover, both of which are on track for substantial completion in late 2025. Fluor’s federal contracting business has remained stable, with ongoing work for the Department of Energy, Department of Defense, and the Federal Emergency Management Agency.
For the full year 2024, Fluor earned $2.15 billion, a significant increase from $139 million in profits in 2023. Its revenue reached $16.32 billion, up about 5% from $15.47 billion in 2023. The company’s backlog fell to $28.48 billion in 2024, around a 3% drop from $29.44 billion a year ago.
Note: I have condensed the article while maintaining the essential information and key points discussed in the original text.
Source: https://www.constructiondive.com/news/fluor-data-centers-earnings-new-ceo/740325