Fluor Corporation (NYSE:FLR) Q1 2023 Earnings Conference Call May 5, 2023 8:30 PM ET

Company Participants

Jason Landkamer - Head of IR

David Constable - Chairman & CEO

Joe Brennan - CFO

Conference Call Participants

Andy Wittmann - Baird

Jamie Cook - Credit Suisse

Sean Eastman - KeyBanc Capital Markets

Michael Dudas - Vertical Research

Brent Thielman - D.A. Davidson

Steven Fisher - UBS

Andrew Kaplowitz - Citigroup

Operator

Good morning, and welcome to Fluor's First Quarter 2023 Earnings Conference Call. Today's call is being recorded. At this time, all participants are in a listen-only mode. A question-and-answer session will follow management's presentation. A replay of today's conference call, will be available at approximately 10:30 AM eastern time today, accessible on Fluor's website at investor.fluor.com. The web replay will be available for 30 days. A telephone replay will also be available for seven days through a registration link, also accessible on Fluor's website at investor.fluor.com.

At this time for opening remarks, I'd like to turn the call over to Jason Landkamer, Head of Investor Relations. Please go ahead, Mr. Landkamer.

Jason Landkamer

Thanks, Julian. Good morning, and welcome to Fluor's 2023 first quarter earnings call. David Constable, Fluor's Chairman and Chief Executive Officer; and Joe Brennan, Fluor's Chief Financial Officer are with us today. Fluor issued its first quarter earnings release earlier this morning and a slide presentation is posted on our website that we'll reference while making prepared remarks.

Before getting started, I'd like to refer you to our safe harbor note regarding forward-looking statements, which is summarized on Slide 2. During today's presentation, we'll be making forward-looking statements, which reflect our current analysis of existing trends and information. There is an inherent risk that actual results and experience could differ materially. You can find a discussion of our risk factors, which could potentially contribute to such differences, in our 2022 Form 10-K, and Form 10-Q, which was filed earlier today.

During this call, we will discuss certain non-GAAP financial measures, reconciliations of these amounts to the comparable GAAP measures are reflected in our earnings release, and posted in the Investor Relations section of our website at investor.fluor.com.

I'll now turn the call over to David Constable, Fluor's Chairman and Chief Executive Officer. David?

David Constable

Thank you, Jason. Good morning, everyone. Thank you for joining us today and please turn to Slide 3. Before we get started on operational results, I wanted to recognize a special achievement that our team recently received for a key milestone on the Marathon L.A. Refinery project. The team comprised of members from our offices in Southern California, Calgary, Manilla, New Delhi and Houston were able to complete the project's turnaround construction work packages by December 31, 2022. A task that was considered almost impossible at the time due to an aggressive schedule, staffing complications, and ongoing scope changes.