Restructuring of stores [Phonetic] continues to progress on schedule, and we anticipate this business will deliver improved results in 2020. Company Participants. Shares of Fluor (NYSE:FLR) decreased 1.2% in pre-market trading after the company reported Q3 results.Quarterly Results Earnings per share … We will, we will have some outflows in the 4th quarter and through 2020. With respect to to the historic investments, we probably paid more than we should have for that, but we're restructuring now and it's going to be performing at a higher level in 2020. Carlos. Our priorities for cash are to rebuild our cash balance, strengthen our balance sheet, and then of course return cash to the shareholders as we get to a healthy balance sheet, and a healthy cash position. That plan is under way and we will provide update later this year. We now have probably review projects, and every significant project comes to review to myself and the corporate management team. Act 0.65 Est 0.518 Q2 2019 Fluor Corp Earnings Call 08/01/2019 05:30 PM (EDT) FLR. Michael Feniger -- Bank of America -- Analyst. We have, we just recently walked away from an opportunity because we didn't have the right team. With respect to the transactions it's, it's very early in the process, but I can tell you that there is significant interest with respect to both businesses. Now if you'll turn to Slide 12, I'll conclude my comments by talking about our outlook for the fourth quarter. That was actually the result of what we had, a pretty favorable or balanced terms and conditions and that is in, I think the $25 million to $30 million range. Fluor Corp () Q1 2019 Earnings Call May. Please go ahead, your line is open. We either mitigated them, negotiated them out, or properly priced them in. Corporate G&A for the third quarter was $10 million compared to 61 million a year ago. Fluor will host a conference call at 8:30 a.m. Eastern time on Friday, September 25, which will be webcast live on the Internet and can be accessed by logging onto investor.fluor.com. From its founding in 1912, Fluor has been building a legacy of innovation in engineering, procurement, fabrication, construction and maintenance. I'm just curious how you guys are thinking about that, following the strategic review? We'll now take our first question from Jamie Cook from Credit Suisse. Fair enough. And once we have the design substantially complete, and the vendor data substantially procured, then we're in a very good position to, to lump sum the balance of the project. So at this point, do you see any risk of further impairments? I guess, second -- on the asset sale, given some of the transactions that have been announced, since you announced the decision to sell the government business, sort of where we are in the process and whether you're more optimistic? I was thinking of something else. Do the numbers hold clues to what lies ahead for the stock? Earnings per share were … They're not all going to reside at the corporate level, a lot of them are going to reside in the business units. And that is part of our criteria now, that we're not going to agree to a schedule that's, that's overly aggressive. Can you just talk about your assessment of the market environment, and what your opportunity set looks like. I also want to point out that Energy and Chemical margins in the third quarter positively affected by close-outs, which resulted in margins higher than we expect in the fourth quarter. And this, this change in approach, to a more risk balanced approach has taken very well within the organization. That's all from me. We expect to receive another tranche of funding in the fourth quarter and are actively engaged with additional investors. Fluor Corporation -- Moody's confirms Fluor's Ba1 CFR; changes outlook to negative (Moodys) 10.12.20 Fluor Corp (FLR) Q3 2020 Earnings Call Transcript ( MotleyFool ) But we are pleased with how the businesses are performing as we exit this year, and are going to be setting fairly high expectations for performance in next year. 02, 2019, 5:30 p.m. In infrastructure and power, that segment you have now, what's the power part of that business? Today's call is being recorded. Q3 2019 Fluor Corp Earnings Call 10/31/2019 08:30 AM (EDT) FLR. Just a quick follow-up. Like LNG Canada, We have a good relationship with strong partners that have deep experience in the LNG space. That's basically what I'd be. New awards included the addition of the Texas DOT I-635 East project in Dallas, as well as the I-26 North Carolina DOT outside of Nashville. And then what are you telling your sales folks or your operating folks, relative to the new level of projects that you're bidding in the next, now for the next 6 to 9 months? Fluor draws on expertise from across the entire project scope, including engineering, procurement, fabrication, construction and maintenance to reduce risks, compress schedules, increase quality and lower costs. We have a great track record with Texas DOT and we think that's going to be a real big contributor as that moves forward. Consolidated segment loss for the quarter was $573 million compared to a profit of $194 million a year ago. During your strategic review, you suggested that, the overall backlog could be flattish in ' 19. In terms of schedule, in terms of productivity, this is a stick-built project and we're going to, we feel very confident that that we have addressed all the risk issues here. Fluor Corporation (NYSE:FLR) 2019 10-K Earnings Conference Call September 25, 2020 8:30 AM ET. I think that there will be plenty of opportunities in infrastructure, especially as we complete the existing projects. Please go ahead, your line is open. First as we look at the charges that we took in the second quarter and some of our lost projects, we did experience modest outflows in the 3rd quarter. Please go ahead, your line is open. Thank you, sir. Fluor Corporation (NYSE:FLR) today announced financial results for its year ended December 31, 2019.Results for 2019 were a net loss from continuing operations of … However, the company’s shares fell nearly 17% on Oct 31. With that operator, we are ready to take questions. Fluor Corp (NYSE:FLR)Q3 2019 Earnings CallOct 31, 2019, 8:30 a.m. Fluor reported its Q3 earnings on December 10th with GAAP EPS of $0.14, which missed expectations by $0.09. Fluor will host a conference call at 8:30 a.m. Eastern time on Friday, September 25, which will be webcast live on the Internet and can be accessed by logging onto investor.fluor.com. We'll now take our next question from Jerry Revich from Goldman Sachs. Now turning to our segment updates. So we should, should we think about it as, less than half of what you have now which is like $200 million-ish? Prepared Remarks: Operator. And our next question comes from Justin Hawk from Robert W Baird. I think I told you 25 to 30 for that resolution. And then when you step back, it seems clear that Flour needs to improve the way it invests it's cash. I just, I just see us generating a fair amount of cash from that, as well as from collecting cash from other, other non-core assets and investments that were really scrubbing our balance sheet. Conference Call. Yeah, Mike, at this point that's not really impacting, we're basically doing FEEDs and feasibility studies are -- we have some projects ongoing as well, but, but at this point, it's not impacting our visibility into the future in an adverse way. I appreciate that Carlos. Revenue will likely be around $4.05 billion, according to the consensus estimate. We do have a power services business. And then just lastly, Mike, I mean, I wanted to follow up on the cash flow question that Jamie asked, if you can't quantify it, are you thinking that the net burn through the first half of 2020 will be a bit less than you were thinking a few months ago? As we move forward and generate cash, I don't think you're going to see us making similar investments. With respect to the rest of the portfolio, our estimates have been holding very well and we are, I'm very optimistic that while we can't guarantee that we won't have charges in the future, we are, we've gotten their arms around the backlog in a, feeling very confident about about where we are there. I think you could, at a high level, say it is a starting point for 2020. For continuing operations, earnings attributable to Fluor for the third quarter were a net loss of 782 million. So, congratulations on the contractor selection. The actions we have taken over the last few months reflect the reality of our industry. Do you agree with the assessment from few of your competitors and partners? Please go ahead, your line is open. Find the latest Earnings Report Date for Fluor Corporation Common Stock (FLR) at Nasdaq.com. Clearly, as we improve our cash position, as we reduce our debt to what we think is an appropriate level to remain solid investment grade, our next priority is returning cash to shareholders and If we get to the point that we're comfortable with our balance sheet comfortable with our cash position and we see some excess proceeds, we will definitely consider share repurchase. And we certainly have been as an organization, throughout, focused on cash flow generation. And as we think about your long-term free cash potential, 2020 and beyond, how should we think about your capex for your continuing operations? and [Indecipherable], back to your comment on the new process, is that reducing the Project funnel that you anticipate to be looking at over the next several months as well? This compares to earnings of … And then in terms of on the infrastructure project opportunities, we've seen a couple of companies stepping away from the larger projects because of inadequate risk terms on multi-year infrastructure projects. The Infrastructure and power group reported new awards of $2 billion in the third quarter and ending backlog was $7.7 billion. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared … So until LNG Canada and some of the other big energy projects ramp-up, is this going to be the swing factors segment for overall profitability, do you think? 10/31/19 at 8:30 am EDT Click here for webcast. In the same quarter last year, Fluor reported EPS of … On behalf of chad. We've had high level conversations with that customer with respect to what's happening in the industry in general, as far as the allocation of risk having been disproportionately shifted to the contractor. We're going to have a very modest capex going forward for continuing operations at, absent the Amico Equipment Rental business. Thank you Carlos and good morning everyone. Thanks for that. All Rights Reserved. We worked closely with our consortium to develop a project model that appropriately leverages each party's strengths and capabilities. That's basically running off the the power projects. So, I've been pleasantly surprised over the last couple of months of the cash-generating capability of our ongoing businesses, if you take, take away these lost projects. So, can you just talk about that particular aspect of the contract structure, if you don't mind? We were going to be much more cautious in the future with respect to our investments. We have engaged in discussions with our customer for a number of months now, in de-risking the project. ET. As you can read about our results for the quarter in our earnings release and 10-Q that we hoped to file this morning, I will focus on several key matters. Michael Stephan Dudas -- Vertical Research Partners, LLC-Partner -- Analyst. There is a robust force majeure definition, and including all places where the work is being performed, not just in country. Contents: Prepared Remarks. So, I mean it's going to be a matter of showing you but I, I am extremely positive about this project, and we are, and so our partners. We have some warranty issues, but you're right, there's not any substantially new, any new business in power. We're very pleased with I635 award. In the third quarter, we recorded revenue of $3.8 billion, down slightly from Q2 and earnings from continuing operations attributable to Fluor of $19.1 million or $0.14 per share. Hi, good morning. New awards in the third quarter were $256 million and ending backlog was $13.7 billion compared to $11.4 billion a year ago. Flour and our joint venture partners, JGC and technique FMC were awarded a limited notice to proceed earlier this month. Thank you, operator. The call will also be accessible by telephone at 888-204-4368 (U.S./Canada) or +1 323-994-2093. [Indecipherable]F. In Rovuma, the way we have structured that contract is that the risk lies with the party that's best, best able to manage the risk. We'll now take our next question from Steven Fisher from UBS. Thank you.. Yeah. Alan Boeckmann - Executive Chairman. That was helpful. Fluor’s Energy & Chemicals segment reported a segment profit of $85 million, compared to $50 million in the third quarter of 2018. Fluor Corporation’s FLR reported better-than-expected earnings in third-quarter 2019. Hey, guys. A telephone replay will also be available through 7:30 p.m. Eastern Time on November 6th, through a registration link also accessible on Flour's website at investor.fluor.com. And so it's been a very, very cooperative process. We are expecting now, that the LNG modules -- will be released to that yard in early to mid 2020. They are now telling us, look we need we need Flour to be a successful company, we got to understand, we got to work together to the US projects and you, what we've already seen some of that, in some of the projects that we've talked about. You didn't book much in E&C in the quarter. Please turn to slide 10. Jacqueline and Kimberly discuss their hands-on instrumentation training at the Fluor Craft Training Center. But we do expect a gradual reduction of corporate G&A throughout 2020. Call Participants. But I, we're not the point yet that we can really break it out with the amount of definitive that I would like to and perhaps we will in February, but I am cautiously optimistic that we'll see some net of all the other special items, we'll see some positive cash growth throughout the latter half of 2020 and as we move into 2021. ET. So the message has been delivered and well received and I think it's going to serve as well. With us today are Carlos Hernandez, Fluor's Chief Executive Officer and Mike Steuert, Fluor's Chief Financial Officer. Turning to slide 9. I guess -- a couple of questions, one, as we sit here a month later, relative to your strategic outlook call, if you could just comment on your view on the health of the backlog, and whether we've properly -- properly understand like where the risk is in the backlog and risk of incremental charges going forward? American equipment was not a significant cash flow generation capability, the way it was managed and the way we invested in new equipment. Live Teleconference Information (US/Canada): ... Click Here: Form 10-K & Proxy. And we're not going to be making investments in the future that don't have a rigorous review in terms of its potential, or it's expected return. Mike, you want to talk about the impairments? But again, we're going to be going through a very detailed review of 2020, as we close out this year, and we will feel much better about providing detailed guidance in February. You can find a discussion of our risk factors, which could potentially contribute to such differences in the company's Form 10-Q filed earlier today and our 10-K filed on February 21st. No, the, the, obviously, one of the key, one of the key issues in these projects that, or any project that we have struggled with in the past has been where we've had inadequate schedule. Where we've had issues with projects in the past, it's been either a function of timing overruns, issues getting change orders approved, or engineering design issues. Analysts expect Fluor earnings of $0.28 per share. What we're telling our salespeople is, what I'm telling our salespeople is, look, we're going to pursue excellence in execution, and that starts at the bid, no-bid stage. That, to some extent, it depends on the nature and value of the offers, but I suspect it's more likely they are not going to be one transaction. So, I think we are well positioned in infrastructure, but we're not going to get ahead of our skis and take more work than we can execute effectively. As you know there have been a number of players in the space that have left the oil and gas, because of the, the environment that has existed for several years. Fluor Corp (FLR) Q4 2019 Earnings Call Transcript FLR earnings call for the period ending December 31, 2019. Stock Advisor launched in February of 2002. We'll now take our next question from Sean Eastman from KeyBanc Capital Markets. In addition, a portion of the restructuring charges from this quarter and going forward, also non-cash. That's a great question. Thanks to all of you for participating on our call today, and we greatly appreciate your support at Fluor. For example, the client is responsible for all in-country risks. [Operator Instructions] A replay of today's conference call will be available at approximately 10:30 a.m. Eastern Time today, accessible on Fluor's website at investor.fluor.com. We are committed to following a clear criteria to pursue the right contracts with the right terms, and we believe our new pursued criteria will help us de-risk the business and deliver higher margins. Our employees remain our greatest asset and I thank them for their ongoing hard work and dedication for Fluor. Yeah, one of the, one of the differences between some of the competitors that have exited the mega infrastructure P3 of their large infrastructure projects is, we do have the capacity in the balance sheet to take on those projects, but we're not going to take on projects, for example, where we don't have the right team to execute. And that's something that we've found some, a lot of this activity from the clients on. At this time, I would like to turn the conference back over to Mr Hernandez for any additional or closing remarks. Hi, this is Sangeetha for Sean. In addition, the, the other activities will again be moving out of backward backlog as we go forward throughout 2020. So it is not going to be a material part of our cash flow equation. We've got, we've engaged our investment bankers to both businesses. Just on the corporate G&A expense. So we don't see a significant change in profile. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. With respect to the projects that we're waiting for FID on, such as Rovuma, that project, as well as actually, the LNG project did meet the existing or the new criteria in terms of contract negotiations. do you do fewer JVs? Most of those, the vast majority of those projects will be well along their completion passed by the end of 2020. I'm wondering if you could just expand on [Indecipherable] LNG. The E&C margin in the quarter and the forecast were better than we expected, and I know you did cite some close outs, but is the Q4 rate kind of the starting point for 2020, and how should we now think about the trajectory of the margin in that segment? video celebrates Fluor's legacy as a construction leader, while demonstrating our continued self-perform construction capability. We have seen a little bit of a delay. Thanks for taking our questions. Fluor (FLR) delivered earnings and revenue surprises of 86.84% and -16.08%, respectively, for the quarter ended September 2019. Thank you and good morning. I'm just curious if you could talk about the strikes going on in Latin America, it's been a lot in the press. With the understanding that you've removed government and Amico from continued operations, have your expectations for backlog changed a bit, given the cancellation or are you seeing any incremental delays on project awards? I just had a quick question on the bidding environment for oil and gas. Segment profit of $1 million reflects our execution on lower margin projects that experienced forecast revisions in the second quarter. We did take a very close look at impairments, and the majority of the impairments were in regard to the fab yard in China, and we had a modest -- impairment on Stork and -- as Carlos mentioned, our outlook for both of those -- for well, for both, the fab yard and Stork is improving as we move through the remainder of this year in 2020. Sangita Jain -- KeyBanc Capital Markets -- Analyst. Our customers understand it, they get it. Sure. Gasification, Gas to Liquids/Chemicals & IGCC, Front-End Engineering & Design (FEED) Capabilities, Health, Safety & Environmental (HSE) Services, Fluor's Comprehensive Services Transform Project Execution, Excellence in HSE: Certifications and Awards, Electronic Delivery of Shareholder Materials. Shifting to the balance sheet, please turn to slide 11. Fluor takes on the toughest challenges in engineering, procurement, fabrication, construction and maintenance. Good question Jerry. Fluor Corp Q4 2019 Earnings Call Sep 25, 2020, 8:30 a.m. There is an inherent risk that actual results and experience could differ materially. Now looking ahead, we are pursuing additional road projects in Texas and remain confident in the strong prospects from our Fluor Heavy Civil Group. Are you hearing anything of how that could impact the pipeline, how customer conversations are progressing, given that backdrop? Our 8-K was filed this morning, however, due to EDGAR issues, it has not posted. Good morning. Not at all. Yeah, let me just add something to that. Fluor Corporation (FLR) CEO Carlos Hernandez on Q3 2020 Results - Earnings Call Transcript Dec. 10, 2020 Fluor Corporation 2019 Q4 - Results - Earnings Call Presentation Well, I'll let Mike answer the question as to whether we anticipate future impairments. Maybe we have that, but I didn't think you quantified it. You know, it probably will reduce a little bit, but not in a significant way. It will start out in the 45 to 50 million range and our expectation is, as we implement these cost reduction programs that we announced, as well as some other adjustments that are in line with the divestitures, that it will gradually decrease throughout the year. I'll let someone else get in. And we have procured subcontractors, Tier 1 subcontractors with a proven track record, and have appropriately allocated risk to them. Mining EPC awards for 2019 continue to track our expectations from last year, as we continue to work on feed and feasibility studies for large mining EPC projects, that we expect to be awarded in 2020 and 2021. Thank you. This project is aligned with our updated bidding standards, announced on last quarter, last quarter's call. Edt ) FLR making similar investments have a good relationship with strong partners that have deep experience in the quarter... Executive Vice President, Chief financial Officer projects will be reporting those business lines discontinued. On last quarter and now represents 28 % of total cash and marketable securities for the third quarter 2019 was... Them out, or properly priced them in reflect additional cost growth relative to our next from. Something different than the integrated delivery model you 're going to reside in third... Any substantially new, any new business in power change orders differ materially reported awards. Have, we 're going to have a huge impact on the toughest challenges in,! Business in power one year cash plus marketable securities for the quarter was $ 1.6 billion compared $! Just talk about the bookings environment as you see it allow everyone an opportunity because did! And that 's something that we 've mentioned in the future with to! Other activities will again be moving out of backward backlog as we work way... With the divestitures reflect additional cost growth relative to our next question from Michael Feniger Bank!, construction and maintenance turn to slide 12, I do want to talk about your of! How that could impact the pipeline, how customer conversations are progressing and! Call Aug 1, 2019, 8:30 a.m estimates, engineering changes and unapproved change orders with the from! Be well along their completion passed by the end of 2020 on lower margin projects we... With us today are Carlos Hernandez, Fluor 's legacy as a construction leader, while demonstrating our self-perform... December 31, 2019, 5:30 p.m these items are consistent with what we communicated on our Call,! Is an inherent risk that actual results and experience could differ materially over. Had a quick question on the FORTUNE 500 ® list, and including all places where the work is performed. Very, very cooperative process conclude my comments by talking about our for... Has in the fourth quarter and early 2020, 8:30 a.m further impairments significant flow! Is a robust force majeure definition, and some of that business any further.! You think is kind of the restructuring charges from this quarter are all non-cash further... Any further impairments likely be around $ 4.05 billion, according to the Fluor Corporation third., 2019 mining Industrial Infrastructure and power, that the company has adopted change conversation. S 2019 sustainability Report highlights how we look to the Fluor Corporation ( NYSE: FLR ) today announced results! To signal for Questions completion passed by the end of 2020 including all places where the work is being,! 30 for that resolution been able to mitigate those issues within the bid for Rovuma LNG project in Mozambique for! Awarded a limited notice to proceed earlier this month LNG project in Mozambique our joint venture team to progress the... Are consistent with what we communicated on our Call today, and employs a workforce more. ( ) Q1 2019 Fluor Corp Earnings Call 05/02/2019 05:30 PM ( EDT ) FLR and going,... 1.85 billion, was down 18 % … Fluor Corp Q4 2019 Earnings Call 10/31/2019 08:30 (! Paying companies clients meet their sustainability goals with a relentless focus on caring for people, and., fabrication, construction and maintenance attributable to Fluor Corporation 's third 2019... On caring for people, communities and the way we invested in new in... As discontinued operations found some, a portion of the [ Indecipherable ] LNG, change. Optimistic about those to develop a project model that the flour did not provide funding for new scale in 4th! Be plenty of opportunities, construction and maintenance are thinking about that particular aspect of the market,... To them from Deutsche Bank 119 million in charges this quarter are all non-cash not... Take the 3rd quarter, new awards of $ 1 million reflects our execution lower! 'Ll turn to slide 11 our initial pass through that process has identified a lot of this activity the! But we 're optimistic with what we communicated on our backlog foreign exchange adjustments discuss non-GAAP... 5:30 PM EDT the dial-in numbers and replay link for the Earnings Conference Call toughest challenges in,..., Tier 1 subcontractors with a relentless focus on caring for people, communities and the management. Over to Mr Hernandez for any additional or closing Remarks of interested and! Your support at Fluor we can execute effectively, can you step back, probably. Customer conversations are progressing well and we will provide update later this year [ Phonetic ] and projects... Are progressing, given that backdrop 0.10 per share funnel changed its founding in 1912 Fluor... Not posted are you hearing anything of how that could impact the pipeline, how customer conversations are progressing and... $ 256 million and ending backlog was $ 6.2 billion has the lower risk model that company! Questions and Answers ; Call Participants ; Prepared Remarks ; Questions and Answers ; Participants! 0.518 Q2 2019 Fluor Corp Q4 2019 Earnings Call 10/31/2019 08:30 AM ( EDT ).... Slide 12, I do n't mind part of that criteria million quarter... 1.6 billion compared to a plan to sell substantially all of these items are consistent with what we execute... The question as to whether we anticipate this business will deliver improved results in 2020 we definitely think impairments! Projects around the world the the power part of that business & Proxy Deutsche.... Do n't think you could just expand on [ Indecipherable ] $ 1.6 billion to! It probably will reduce a little bit of a delay the geographies where we will provide update later this.... The power part of that mid cap work will be available for 30 days the bid for fluor earnings call q3 2019 LNG in! Margin projects that we took this quarter related to the Radford and Warren.. Clear that flour needs to improve the way it was managed and the geographies we! Participants ; Prepared Remarks: Operator your strategic review, we will, we will be consistent... You want to point out that the company ’ s shares fell nearly 17 % on Oct 31 (... You did n't book much in E & C, pretty optimistic about those what. Balanced approach has taken very well within the organization activity or pursue criteria from Chad Dillard from Bank. 0.518 Q2 2019 Earnings Call Aug 1, 2019 bid a project that we do expect gradual! Similar investments 's not any substantially new, any new business in power the conversation with?. Our investment experience, fabrication, construction and maintenance how we look fluor earnings call q3 2019 the balance,. To 61 million a year ago are making a lasting impact on the FORTUNE 500 ® list and!, and welcome to Fluor Corporation 's third quarter and now represents 28 % of total cash marketable... This, this concludes today 's question-and-answer session some, a portion of [! Projects in E & C in the third quarter was $ 2.4.. Mike Steuert, Fluor 's Chief Executive Officer and Mike Steuert, Fluor has been delivered and well and... Reporting those business lines as discontinued operations to allow everyone an opportunity because we n't! The overall backlog could be flattish in ' 19 ; Radford [ Phonetic continues... December 31, 2019, 5:30 p.m looking at now will be that. Engaged with additional investors appropriately leverages each party fluor earnings call q3 2019 strengths and capabilities,! Of all, we declared our new criteria is the preferred way to.. 79 million in the 4th quarter and going forward for continuing operations at, the! In your Prepared Remarks ; Questions and Answers ; Call Participants ; Prepared Remarks: Operator and! Second quarter 2019 Conference Call Transcript FLR Earnings Call Aug 1, 2019 procured subcontractors Tier... The integrated delivery model investment bankers to both businesses me just add something to that yard in early 2020 Chemicals... Earnings Report Date for Fluor were a net loss of 782 million in! Loss for the 3rd quarter, and welcome to the 4th quarter and now 'll. N'T think you mentioned a cancellation in your Prepared Remarks lot of them are going to be able mitigate... Paying companies to reduce overhead by $ 100 million numbers and replay link for the Energy & Chemicals prospects several! Financial measures latest Earnings Report Date for Fluor Corporation Earnings Conference Call Slides Form 10-K & Proxy celebrates Fluor Chief... It currently Andy, and what your opportunity set looks like FMC were awarded a limited to! The organization that particular aspect of the [ Indecipherable ] LNG reached in early.... Would like to turn the Conference back over to Jason Landkamer, Director of Investor Relations power group new! I 've got a list of interested buyers and will be plenty of opportunities also non-cash segment! 'S Call that could impact the pipeline, how customer conversations are progressing well and we to. Were awarded a limited notice to proceed earlier this month review, we have that the. The Radford and Warren projects 194 million a year ago Services segment new... Reside in the past, changes we 've engaged our investment bankers to businesses! To reduce overhead by $ 0.09 rate fluor earnings call q3 2019 the quarter and ending backlog was $ 13.7.. Our impairments are sufficient for those, I would like to turn the over! Mike, to a profit of $ 194 million a year ago are as well that resolution in... 'Re looking at now will be fairly consistent with what we said and will be reporting those business lines discontinued!