Fluor Corporation (NYSE:FLR) Q4 2019 Earnings Conference Call - Final Transcript

Sep 25, 2020 • 08:30 am ET


Fluor Corporation (NYSE:FLR) Q4 2019 Earnings Conference Call - Final Transcript


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Joseph L. Brennan

expected this year, they remain important contributors to enhancing our cash position.

Please turn to slide 10. Since our last call in February, we have experienced a significant shift in our end markets. As a result, we feel it is prudent to suspend our guidance for 2020. I know the importance of guidance to our investors and I look forward to providing 2021 guidance after we file our 2020 10-K. Here's what you can expect over the next few months. We expect to file Q1 2020 results within the next month, followed approximately four weeks later by Q2 2020 with Q3 results approximately four weeks after that. We will host our next call with the investment community in conjunction with the release of our Q3 results.

As previously mentioned, our cash balance at the end of August was $2.1 billion. I expect the cash balance to remain around that level through the end of 2020. This includes cash needed to fund problem projects. Fluor has adequate liquidity to meet all operational and project needs and has no amount drawn on the revolving loans under its credit facilities.

Before we open the call for questions, I want to remind you all that we are only able to talk about financial results from 2019. We are working to get current on our financials and look forward to discussing 2020 when we close the books for those quarters in the coming months.

With that, operator, we're ready to take questions.