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Fluor Corporation (NYSE:FLR), a prominent player in the heavy construction industry with a market capitalization of $6.2 billion, has disclosed the upcoming departure of a key executive. Ms. Stacy L. Dillow, who serves as the Executive Vice President and Chief Human Resources Officer, has decided to resign from her position with the company. The announcement was made public through a recent filing with the Securities and Exchange Commission (SEC).
Ms. Dillow’s resignation is set to take effect on April 11, 2025. She informed the company of her decision on March 24, 2025. As of now, Fluor has not named a successor or provided details regarding the reason for Ms. Dillow’s departure or any plans for filling the soon-to-be-vacant role.
Fluor Corporation, headquartered in Irving, Texas, operates globally, providing engineering, procurement, fabrication, construction, maintenance, and project management services. The company, which generated revenue of $16.3 billion in the last twelve months, is incorporated in Delaware and is listed on the New York Stock Exchange under the ticker symbol FLR. According to InvestingPro, the company maintains strong financial health with a GREAT overall score, holding more cash than debt on its balance sheet.
This change in the executive team comes at a time when leadership roles in the construction sector are under scrutiny, as companies navigate through various market challenges. However, the SEC filing did not include any additional context or implications regarding Ms. Dillow’s resignation.
Investors and stakeholders of Fluor Corporation will be keeping a close eye on the company’s next steps in this transition period. The information regarding this executive change is based on the latest 8-K filing submitted by Fluor Corporation to the SEC.
In other recent news, Fluor Corporation reported its fourth-quarter 2024 financial results, revealing earnings per share of $0.48, which missed the analyst forecast of $0.78. The company’s revenue also fell short, coming in at $4.26 billion against a projected $4.48 billion. Despite these quarterly misses, Fluor’s full-year revenue increased by 5.4% to $16.3 billion, with net income reaching $2.1 billion. Meanwhile, Fluor announced the startup of the Tengizchevroil Future Growth Project in Kazakhstan, expected to boost crude oil production significantly. In Romania, Fluor is part of a consortium involved in nuclear projects, including the construction of new reactors and a small modular reactor plant. Analyst firm DA Davidson recently adjusted its outlook on Fluor, lowering the price target to $55 from $65 but maintaining a Buy rating, citing improved cash flow and increased market value of its investment in NuScale. The company also initiated a share repurchase program and provided guidance for 2025, projecting moderate growth with an EBITDA range of $575 million to $675 million.
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