Project Delays

Fluor Corporation reported its Q2 2025 financial results, marked by the first LNG shipment from the LNG Canada project but impacted by challenges in infrastructure projects and client spending shifts, leading to adjusted 2025 guidance. While Urban and Energy Solutions profits declined due to cost overruns and an arbitration ruling, respectively, Mission Solutions remained steady. The company is revising its adjusted EBITDA and EPS forecasts for 2025. A conference call was held August 1st to discuss the results.

A federal report reveals significant issues plaguing California’s High-Speed Rail project. After 17 years and $16 billion invested, no track has been laid. Facing a July 11 deadline, the project must satisfy the U.S. Department of Transportation or risk losing $4 billion in federal funding. Costs have ballooned from $33 billion to $128 billion, with completion now projected for 2033. Delays stem from land acquisition, lawsuits, and management problems. Public confidence is low, with over 53% of voters losing faith.