The 2020 Mid-Year Economic Update_long

Fluor Sales Decrease 18.6% in 3Q

Company's year-to-date sales plummet 23.7 percent.

Engineering and construction firm Fluor Corp. (NYSE: FLR), Irving, TX,reported sales for the third quarter of $5.4 billion, a decrease of 18.6 percent compared to the same period a year ago. Profit increased 59.8 percent to $69.5 million.

Oil & gas segment sales of $3.2 billion was up 11.7 percent from the third quarter of 2013 due to rising contributions from major projects. Industrial & infrastructure sales for the quarter were $1.2 billion, down 54.4 percent from $2.7 billion a year ago, reflecting a continued decline in contributions from the mining and metals business line.

Government group sales for the quarter declined 8.9 percent to $615.1 million, while global services sales declined 6.1 percent to 140.5 million and power business sales declined 21.5 percent to $236.9 million.

Year-to-date sales were $16.1 billion, down 23.7 percent over the prior-year period. Profit decreased 40.8 percent to $296.4.

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