Fluor Corporation ( FLR Quick Quote FLR - Free Report) has won a place on a five-year Multiple Award Schedule (MAS) contract to support the U.S. General Services Administration (“GSA”). Per this indefinite-delivery/indefinite-quantity contract, the company will have three five-year option periods post the completion of the base period. Tom D’Agostino, president of Fluor’s Mission Solutions business, said, "This award aligns with our strategy to expand our professional technical services capabilities and enables us to grow our expertise with existing customers as well as new federal government agencies. Fluor’s position on this contract provides our customers with access to the company’s innovative solutions." The MAS is a long-term government-wide contract with commercial firms to improve a federal agency's performance and help it meet mission goals. Its Facilities Category provides operation and maintenance services to federal customers. The Professional Services Category provides innovative solutions to professional engineering, program management and logistic needs. Fluor, as part of MAS, is now eligible to compete for task orders for both the categories. These categories include 10 unique Special Item Numbers that align with Fluor’s top North American Industry Classification Systems’ spending profiles. Continuous Contract Wins Bode Well
Fluor has been a distinguished player in the nuclear industry for 70 years, providing design and construction support to more than 25 nuclear plants and performing nearly 100 million hours of nuclear operations and maintenance work.
Efficient project execution has been one of the main factors driving its performance over the last few quarters. The company’s ongoing contract wins are a testimony to the fact. Fluor's total new awards for third-quarter 2021 came in at $3 billion compared with $1.28 billion a year ago. Consolidated backlog at quarter-end came in at $21.03 billion. Precisely, Fluor’s Mission Solutions segment’s quarterly results reflect increased execution activity on DOE projects and higher-than-anticipated performance-based fees. It booked new awards worth $1.6 billion, significantly up from $188 million a year ago. Backlog at quarter-end was $3.4 billion. Image Source: Zacks Investment Research
Shares of Fluor have climbed 46% in the past six months, broadly outperforming the
industry's 4.3% growth. Continuous contract wins, strong end-market prospects and a good business portfolio mix are expected to benefit the company in the future. Zacks Rank
Fluor currently carries a Zacks Rank #4 (Sell).
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