Back to top

Analyst Blog

Recently, Fluor Corporation (FLR - Analyst Report) received a contract from Qatar’s Public Works’ Authority for program management and construction supervision services for the Sharq Crossing. The contract is valued at $185 million and will be booked in Fluor’s second quarter order book under the Industrial & Infrastructure segment. The contract is expected to complete by 2020.   

Sharq Crossing is one of the important infrastructure development plans for Qatar before the 2022 FIFA World Cup. This will be an important link across the Doha Bay to support the run-up for the World Cup event. The project will primarily comprise bridge sections which will be interconnected with an immersed tube tunnel that will create a new passageway underwater across the Doha Bay. The total cost of the Sharq Crossing program is $5 billion.  

Fluor Corporation has a strong presence and brand name in the Middle East, especially in Qatar. Prior to this, Fluor received a FEED (Front-End Engineering and Design) contract jointly from Qatar Petroleum and Royal Dutch Shell plc (RDS-A) for the Al-Karaana Petrochemicals Complex in Ras Laffan Industrial City, Qatar. Fluor will book the contract into the backlog for the first quarter of 2013. However, the contract value is not disclosed.  

In the last reported quarter (1Q13) revenues in the Industrial & Infrastructure segment came in at $3.1 billion versus $3.0 billion a year ago. The marginal improvement was driven by increased contributions from the infrastructure business line. New awards for the segment totaled $2.2 billion in the first quarter, primarily driven by large infrastructure programs, including the Tappan Zee Bridge in New York and the Horseshoe road project in Texas. Backlog at the end of the quarter was $16.0 billion versus $23.3 billion a year ago, mainly due to reduced mining and metals awards over the past year.

Fluor currently has a Zacks Rank #3 (Hold). However, some other companies in the same sector that are worth considering at the moment are Chicago Bridge & Iron (CBI - Analyst Report), Quanta Services Inc. (PWR - Analyst Report) and Orion Marine Group Inc. (ORN - Snapshot Report), all having Zacks Rank #2 (Buy).

Please login to or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research


Are you a new Zacks Member or a visitor to

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
UNITED THER… UTHR 117.83 +28.51%
TRIQUINT SE… TQNT 20.67 +6.52%
RF MICRO DE… RFMD 12.47 +6.04%
VASCO DATA… VDSI 14.77 +4.68%
BANCO DO BR… BDORY 15.53 +3.95%