IonQ reaches 1,000 patents milestone with new quantum computing grants
IRVING, Texas - Fluor Corporation (NYSE:FLR), a prominent player in the Construction & Engineering industry with a "GOOD" financial health rating according to InvestingPro, acknowledged on Friday a Supreme Court of Queensland decision that ruled in favor of Santos regarding a legal dispute over the Gladstone LNG project in Australia.
The court largely accepted recommendations from a panel of court-appointed referees in the case, which has been ongoing since 2016. The dispute centers on Santos’ efforts to recover costs related to a reimbursable project that Fluor completed in 2015.
A final judgment is not expected until later this year, with both parties scheduled to present additional arguments before the court delivers its final ruling. Fluor stated it is reviewing the August 8 decision and considering its response, including the timing of a potential appeal.
The engineering firm expressed concern that the contracting principles addressed by the court could have "wide-sweeping consequences in the engineering and construction industry." The company also noted it is working with insurance carriers to address obligations that may arise from the final judgment.
Fluor, headquartered in Irving, Texas, provides engineering, procurement, construction and maintenance services globally. The company reported revenue of $16.3 billion in 2024 and employs nearly 27,000 people.
The information in this article is based on a press release statement from Fluor Corporation.
In other recent news, Fluor Corporation reported its second-quarter 2025 financial results, which did not meet Wall Street expectations. The company announced earnings per share (EPS) of $0.43, falling short of the anticipated $0.56. Revenue for the quarter was $4 billion, which was below the forecasted $4.55 billion. Despite these results, DA Davidson reiterated its Buy rating on Fluor, maintaining a price target of $50.00. The research firm acknowledged the company’s recent "noisy" performance and slower bookings momentum but remained optimistic about its prospects. These developments reflect the ongoing challenges and opportunities facing Fluor as it navigates its financial landscape.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.