Fluor (FLR) Wins 5-Year MAS Contract for Mission Solutions Unit
Fluor (FLR) is set to support the U.S. GSA for five years, with three five-year option periods.
Fluor Corporation FLR has won a place on a five-year Multiple Award Schedule (MAS) contract to support the U.S. General Services Administration (“GSA”). Per this indefinite-delivery/indefinite-quantity contract, the company will have three five-year option periods post the completion of the base period.
Tom D’Agostino, president of Fluor’s Mission Solutions business, said, "This award aligns with our strategy to expand our professional technical services capabilities and enables us to grow our expertise with existing customers as well as new federal government agencies. Fluor’s position on this contract provides our customers with access to the company’s innovative solutions."
The MAS is a long-term government-wide contract with commercial firms to improve a federal agency's performance and help it meet mission goals. Its Facilities Category provides operation and maintenance services to federal customers. The Professional Services Category provides innovative solutions to professional engineering, program management and logistic needs.
Fluor, as part of MAS, is now eligible to compete for task orders for both the categories. These categories include 10 unique Special Item Numbers that align with Fluor’s top North American Industry Classification Systems’ spending profiles.
Continuous Contract Wins Bode Well
Fluor has been a distinguished player in the nuclear industry for 70 years, providing design and construction support to more than 25 nuclear plants and performing nearly 100 million hours of nuclear operations and maintenance work.
Efficient project execution has been one of the main factors driving its performance over the last few quarters. The company’s ongoing contract wins are a testimony to the fact. Fluor's total new awards for third-quarter 2021 came in at $3 billion compared with $1.28 billion a year ago. Consolidated backlog at quarter-end came in at $21.03 billion.
Precisely, Fluor’s Mission Solutions segment’s quarterly results reflect increased execution activity on DOE projects and higher-than-anticipated performance-based fees. It booked new awards worth $1.6 billion, significantly up from $188 million a year ago. Backlog at quarter-end was $3.4 billion.
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Shares of Fluor have climbed 46% in the past six months, broadly outperforming the industry's 4.3% growth. Continuous contract wins, strong end-market prospects and a good business portfolio mix are expected to benefit the company in the future.
Fluor currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some Better-Ranked Stocks From the Construction Sector
D.R. Horton DHI currently carries a Zacks Rank #2 (Buy). This Texas-based prime homebuilder continues to gain from industry-leading market share, a solid acquisition strategy, a well-stocked supply of land, lots, and homes along with affordable product offerings across multiple brands.
D.R. Horton’s earnings are expected to rise 27.7% year over year for fiscal 2022.
Lennar Corp. LEN currently holds a Zacks Rank #2. This Miami, FL-based homebuilder continues to gain from effective cost control and focus on making its homebuilding platform more efficient, which in turn is resulting in higher operating leverage.
Lennar’s earnings are expected to rise 9.3% year over year in fiscal 2022.
Meritage Homes Corporation MTH currently carries a Zacks Rank #2. Its successful execution of strategic initiatives to boost profitability and focus on entry-level LiVE.NOW homes bode well.
Meritage Homes’ earnings are expected to rise 23.4% year over year in 2022.
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