Fluor to retain former chief legal officer as consultant for up to six months

Fluor Corporation (NYSE:FLR) disclosed that its wholly owned subsidiary, FDEE Consulting, Inc., entered into a consulting agreement with John R. Reynolds, the company’s former Chief Legal Officer and Corporate Secretary. According to a press release statement included in a filing with the Securities and Exchange Commission, Mr. Reynolds will provide advisory and consultation services to Fluor at a rate of $590 per hour.

The agreement, which began Wednesday, is set for a period of up to six months. The company stated that the full text of the agreement will be filed as an exhibit to its quarterly report on Form 10-Q for the quarter ending June 30, 2025.

No additional details regarding the scope of Mr. Reynolds’ consulting services or the circumstances of his departure were provided in the filing. The information is based on a statement from Fluor’s SEC filing.

In other recent news, Fluor Corporation reported its first-quarter 2025 earnings, surpassing analyst expectations with an adjusted earnings per share (EPS) of $0.73, significantly higher than the forecasted $0.50. Despite this earnings beat, the company reported revenue of $4 billion, which was slightly below the anticipated $4.18 billion. Citi analysts responded to these results by raising the price target for Fluor to $47, maintaining a Buy rating, and highlighting the company’s strong book-to-burn ratio and robust backlog. The backlog, valued at approximately $29 billion, consists largely of reimbursable work, which Citi suggests could provide stability amid market fluctuations.

Fluor has also reaffirmed its full-year 2025 guidance, projecting adjusted EBITDA between $575 million and $675 million and adjusted EPS between $2.25 and $2.75. The company anticipates revenue growth of about 15% for the year. However, Fluor faces challenges such as project reserves, a slowdown in construction activity on the Dow project, and loss of the Strategic Petroleum Reserve recompete, which is currently under protest. Despite these hurdles, Fluor’s focus on high-demand sectors like life sciences and infrastructure is expected to support its financial performance.

Additionally, Fluor’s strategic initiatives in pharmaceuticals and semiconductors have positioned it favorably against competitors. The company continues to advance its projects, with significant progress reported in its Urban Solutions and Energy Solutions segments. Analysts from Citi noted that while Fluor’s stock might be sensitive to macroeconomic conditions in the short term, the company’s emphasis on reimbursable contracts and early client engagement could mitigate some risks.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.