Fluor Corporation (FLR) won a five-year integrated services supplier contract from Pacific Gas and Electric Company (PCG) for an undisclosed value. Fluor registered the contract in its fourth quarter 2014 backlogs.
Per the contract, Fluor will provide engineering, site and outage services along with facility maintenance services at the two-unit Diablo Canyon facility in Avila Beach, CA. Total power production of the two units is around 2,300 megawatts.
The deal strengthens the relationship between Fluor and Pacific Gas and Electric. Both the companies had earlier penned an operations and maintenance contract for the Diablo Canyon Power Plant. Hence, Fluor is being providing provide best cost-effective solutions at the plant, during outage and non-outage periods, since 2010.
As a matter of fact, Fluor is one of the leading professional services provider firms and engages in engineering, procurement, construction, maintenance services as well as project management services on a global basis. Also, it boasts a proven track record of on-time project completion, thereby ensuring client satisfaction.
In December, Fluor disclosed construction initiation at the new delayed coker unit at ExxonMobil Petroleum & Chemical BVBA refinery of Exxon Mobil Corporation (XOM) in Belgium. In the same month, the company signed a memorandum of understanding with China National Nuclear Corporation for developing nuclear and renewable energy projects in regions like Europe and China.
Fluor is slated to report its fourth quarter and 2014 earnings results on Feb 18, 2015. The Earnings ESP for the same is 0.00%, as the Most Accurate estimate and the Zacks Consensus Estimate stand at $1.10. This combined with the company’s Zacks Rank #3 (Hold) makes surprise prediction difficult.
Investors may consider Willdan Group, Inc. (WLDN), which is a better-ranked stock in the sector, having a Zacks Rank #1 (Strong Buy).
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