The modification significantly boosts Fluor's defense backlog and provides multi-year revenue visibility through the Naval Nuclear Laboratory work. Monitor future obligated amounts and any additional modifications to this contract for sustained revenue flow.
Price Chart
Executive Summary
Fluor Marine Propulsion LLC, a subsidiary of Fluor Corp, received a $2.4 billion cost-plus-fixed-fee modification to an existing Naval Nuclear Propulsion contract. The modification represents about 13.9% of Fluor's annualized revenue, significantly expanding its long-term work at the Naval Nuclear Laboratory.
Key Financial Metrics
Key Facts
- Modification value: $2,409,077,590
- Awarding agency: Department of Defense (Navy)
- Work locations: Pittsburgh (47%), Schenectady (45%), Idaho Falls (8%)
- Funds obligated at award: $597,900 (fiscal 2026 O&M and shipbuilding funds)
- Contract type: cost-plus-fixed-fee modification to existing contract N0002418C2130
- Fluor's annualized revenue: $17.316 billion
- Modification represents ~13.9% of annualized revenue
Financial Impact
$2.41 billion modification, representing approximately 13.9% of Fluor's annualized revenue of $17.316 billion
Risk Factors
- Only $597,900 was obligated at award; the full $2.41 billion ceiling may be obligated over several years
- Cost-plus-fixed-fee contracts carry lower margins than fixed-price work
- Execution risk on long-duration nuclear propulsion work
Investment Themes
Documents Analyzed
This report is based on 1 federal contract record from official U.S. government contract data.
| Document | Accession Number |
|---|---|
| GOVT-CONTRACT Data (Synthetic) | contract-N0002418C2130 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | GOVT-CONTRACT | — | awaiting T+1 | — | — |
Oct 21, 2026 5d ago | GOVT-CONTRACT | $43.42 $44.05 | ▲ +1.45% | ▲ +1.97% | $44.71 (+2.96%) |
Sep 11, 2026 6w ago | GOVT-CONTRACT | $53.51 $54.04 | ▲ +0.99% | ▲ +1.45% | $44.71 (−16.45%) |
Sep 5, 2026 7w ago | GOVT-CONTRACT | $56.62 $54.83 | ▼ −3.16% | ▼ −2.70% | $44.71 (−21.04%) |
Aug 13, 2026 10w ago | Institutional Cluster | $52.33 $52.37 | ▲ +0.08% | ▲ +0.27% | $44.71 (−14.57%) |
Aug 7, 2026 11w ago | 8-K | $57.00 $52.25 | ▼ −8.33% | ▼ −8.30% | $44.71 (−21.57%) |
Aug 4, 2026 11w ago | 8-K | $50.42 $48.75 | ▼ −3.31% | ▼ −3.15% | $44.71 (−11.33%) |
Jun 30, 2026 16w ago | GOVT-CONTRACT | $50.35 $49.45 | ▼ −1.79% | ▼ −1.66% | $44.71 (−11.21%) |
May 8, 2026 24w ago | 8-K | $43.31 $43.69 | ▼ −0.88% | ▼ −0.65% | $44.71 (−3.22%) |
Apr 30, 2026 25w ago | 8-K | $53.00 $52.49 | ▼ −0.96% | ▼ −0.62% | $44.71 (−15.65%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers