Fluor Corporation Announces Strategic Review Results
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Fluor (FLR) to Bolster Balance Sheet with $1B+ in Asset Sales, Cost and Dividend Cuts
September 24, 2019 11:30 AM EDTAs anticipated, Fluor Corp. (NYSE: FLR) announced the results of its strategic review on Tuesday which will include divestitures of select businesses, overhead cost reductions, and a 52 percent dividend cut. The moves will bolster the company's balance sheet and position the company to return to consistent profitable growth.
In an effort to simplify the business model, Fluor will sell its government business, sell construction equipment rental business AMECO, and monetize certain real estate and non-core investments. Fluor anticipates the divestitures to generate in excess of $1 billion in... More
