- Fluor's (FLR +2.8%) has increased its existing share repurchase program by 10M shares, bringing authorization for share repurchases up to approximately 17.4M shares (net of shares already repurchased). The authorization is dependent on the closing of a senior note public offering today.
- The company has already repurchased $143M of shares in Q4, and plans to use a portion of the proceeds from the public notes offering to increase the amount of shares repurchased to a total of $500M.
- Fluor also plans to repurchase an additional $500M in shares in 2015 using cash from operations, bringing the total planned repurchases over the five quarter period to $1B.