Fluor (NYSE:FLR) shareholders approved all three proposals presented at the company’s 2026 Annual Meeting of Shareholders, including the election of directors, an advisory vote on executive compensation and the ratification of Ernst & Young LLP as the company’s independent registered public accounting firm.
Kevin Hammonds, Fluor’s chief legal officer and corporate secretary, said preliminary voting results showed each director nominee received a majority of votes cast. Shareholders also approved the company’s “say on pay” resolution and ratified Ernst & Young’s appointment. Hammonds said final voting results will be disclosed in a Form 8-K after certification by the inspector of elections.
Leadership Transition and Board Priorities
Constable also announced that he would retire from the board following the conclusion of the meeting. He said Fluor was “now on a strong trajectory” and expressed confidence in Jim Hackett, who will serve as chairman of the board. Constable cited Hackett’s governance experience, knowledge of global markets and long history with Fluor, including service as lead independent director.
Constable said the board’s supervision remains centered on five priorities: strong corporate governance, strategic growth, rigorous risk management, active stakeholder engagement and disciplined financial oversight. He said the board worked closely with management during the year on a strategy validation process to assess Fluor’s positioning, competitiveness and growth focus areas amid changing global markets, geopolitics and client decision cycles.
2025 Performance and Capital Returns
Breuer said he was proud of Fluor’s performance in 2025, describing the year as one defined by major project achievements, a stronger capital structure and continued focus on strategy despite market conditions that affected short-term results.
The company reported total revenue of $15.5 billion in 2025 and new awards of $12 billion, with 87% of those awards reimbursable. Ending backlog was $25.5 billion, of which 81% was reimbursable. Breuer said Fluor ended the year with $2.2 billion in cash and marketable securities and repurchased $754 million in shares during the year.
Breuer also highlighted the monetization of Fluor’s NuScale Power investment, which he said generated significant cash for the company. Constable said the company completed the monetization last month and described it as an example of disciplined capital management and focus on Fluor’s core business.
Constable said Fluor also continued returning value to shareholders through share repurchases and the monetization of non-core investments. He said the company completed transformational projects worldwide and won significant new work across its three business segments.
Project Execution and Market Focus
Breuer pointed to the completion of major projects, including LNG Canada Phase One and Tengizchevroil’s Future Growth Project. He said Fluor also expanded in key markets by securing a multi-billion-dollar pharmaceutical facility, winning large mining and transportation projects and growing its service offerings to government agencies.
Breuer outlined four strategic priorities guiding the company: driving growth in markets where Fluor has a competitive advantage, pursuing fair and balanced contract terms with an emphasis on reimbursable work, reinforcing financial discipline and building a high-performance culture of project delivery. He said the company is also using technology, including artificial intelligence, while maintaining commitments to safety, inclusion, sustainability and community impact.
Across Urban Solutions, Breuer said Fluor supports mining and metals projects, life sciences clients, and semiconductor and data center programs. In Energy Solutions, he said rising global power demand has driven the company’s strategic reentry into the gas-fueled power market, while Fluor remains focused on LNG, nuclear, traditional energy and chemicals opportunities. In Mission Solutions, he said the company is pursuing U.S. government work, including operations and maintenance, nuclear decontamination and decommissioning, national security and nuclear fuels enrichment opportunities.
Safety and Cybersecurity Themes
The meeting opened with remarks on safety and cybersecurity from Fluor employees. Rica Macaila Cruz, an electrical engineer in Fluor’s Manila office, discussed safety practices used on a semiconductor project in Malaysia, including an area-based ownership program, QR-based safety observation cards, anonymous feedback through the WeCare Portal and weekly workforce safety meetings. She said Fluor received 11 MSOSH awards across three AT&S projects in the Asia-Pacific region, including five awards for the project she described.
Tristan Geervliet, an industrial engineer in Fluor’s Amsterdam office, said cybersecurity has become inseparable from operational continuity and project delivery. He said Fluor integrates cybersecurity into its enterprise risk management framework and uses internationally recognized standards and continuous monitoring, including validation through third-party audits and certifications such as ISO 27001. Geervliet said robust cybersecurity supports client confidence, resilient operations and differentiation in high-security markets, including government and nuclear energy projects.
Constable said shareholder questions submitted for the meeting had been reviewed and grouped, with responses to be posted on Fluor’s website shortly after the meeting.
About Fluor (NYSE:FLR)
Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.
Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.
