Fluor Completes Successful Sale of NuScale Class A Shares
Fluor Corporation today announced it has completed the sale of 15 million shares of Class A common stock of NuScale Power Corporation (NYSE:SMR) ("NuScale") that were converted in August 2025, resulting in net proceeds of $605 million. The Company expects to use existing tax attributes to limit cash taxes arising from the sales. NuScale shares have appreciated by more than 300% since taking them public at $10.00 per share in May 2022.
The Company intends to use a majority of the proceeds from this sale to enhance its ongoing share repurchase program.
Fluor continues to hold 111 million NuScale LLC Class B units and associated NuScale Class B shares, representing approximately 39% of NuScale's equity. The Company continues to develop ways for Fluor shareholders to benefit more directly from its NuScale investment.
Cash and Equivalents Forecast
The Company anticipates cash and equivalents at the end of the third quarter to be approximately $2.7 billion, including $364 million of proceeds from NuScale sales that occurred prior to quarter end.
The Company will provide full operational third quarter results and additional information about share repurchases on November 7, 2025.
Forward-Looking Statements: This release contains forward-looking statements (including without limitation statements to the effect that the Company or its management "will," "expects," "intends," "anticipates," "plans" or other similar expressions). Such statements, including statements relating to strategic and operation plans, capital allocation plans and cash forecasts are based on current management expectations and involve risks and uncertainties. Actual results may differ materially as a result of a number of factors, including, among other things, the cyclical nature of many of the markets the Company serves; cost overruns, project delays or other problems arising from project execution activities; intense competition in the industries in which we operate; failure of our joint venture or other partners to perform their obligations; the failure of our suppliers, subcontractors and other third parties to adequately perform services under our contracts; exposure to political and economic risks in different countries, including tariffs and trade policies and other foreign economic and political uncertainties in the countries in which we do business; client cancellations of, or scope adjustments to, existing contracts; risks or uncertainties associated with events outside of our control; client delays or defaults in making payments; failure to obtain favorable results in existing or future litigation and regulatory proceedings, dispute resolution proceedings or claims, including claims for additional costs. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, the Company's results may differ materially from its expectations and projections. Additional information concerning these and other factors can be found in the Company's public periodic filings with the Securities and Exchange Commission, including the discussion under the heading "Item 1A. Risk Factors" in the Company's Form 10-K filed on February 18, 2025. Such filings are available either publicly or upon request from Fluor's Investor Relations Department: (469) 398-7222. The Company disclaims any intent or obligation other than as required by law to update its forward-looking statements in light of new information or future events.
About Fluor Corporation
Fluor Corporation (NYSE:FLR) is building a better world by applying world-class expertise to solve its clients' greatest challenges. Fluor's nearly 27,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $16.3 billion in 2024 and is ranked 257 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement, construction and maintenance services for more than a century. For more information, please visit www.fluor.com or follow Fluor on Facebook, Instagram, LinkedIn, X and YouTube.
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Brett Turner
Media Relations
864.281.6976 tel
Jason Landkamer
Investor Relations
469.398.7222 tel
