Fluor Corporation (NYSE: FLR) Awarded DOE Contract
The U.S. Department of Energy has awarded Fluor Corporation (NYSE: FLR) a contract for the operation and management of the Strategic Petroleum Reserve, the world’s largest supply of emergency crude oil. The contract has an initial term of five years with an extension option of five more. The total value of the contract is approximately $697 million. Fluor has maintained a consistent quarterly revenue of about $7.1 billion for the past four quarters. Spread over five years, this contract will have minimal effect on top and bottom lines.
5 Signals Every Investors Must Know
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