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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (62311)5/4/2020 9:23:10 PM
From: E_K_S  Read Replies (3) of 78802
 
Started very small position in FLR. News keeps getting bad so maybe it is now priced into the stock. My investment thesis is IF there is an infrastructure bill, FLR s/d get some of that. Stock selling at stated BV.

Fluor backlog cut by $1.2B after Purple Line Rail project exit
Fluor says the lack of resolution on the impacts of third-party lawsuits, delayed right-of-way acquisition and changes to regulations and third-party agreements made the JV's continued participation unsustainable.

Fluor's project backlog will be reduced by ~$1.2B after the termination



Fluor suspends dividend payments
saying it will suspend its dividend as part of its effort to cut costs . . Fluor says it continues to pursue sales of its equipment rental business, P3 assets and excess real estate, although the timing of any deals has slowed due to COVID-19.
Only 10 years ago, Fluor was the leader in their field. The Company is aligned into five principal operating segments: Oil and Gas, Industrial and Infrastructure, Government, Global Services and Power.

Would like to see them exit their unprofitable business segment (like Oil & Gas), downsize and concentrate on their Industrial & Infrastructure. If/when I see divestment of legacy business units and a focus on profitable lines, I will continue to add share.



I now have FLR and STLD in my infrastructure basket. Really need one or two core companies and still looking for those.

EKS
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