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Business/Financial

Delayed Earnings Report Shows Fluor With 1Q Loss

Defense Daily Staff

Thursday, October 22nd, 2020

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Delayed Earnings Report Shows Fluor With 1Q Loss

Texas-based Fluor [FLR], a major contractor at Department of Energy nuclear weapon sites, lost $171 million, or $1.22 per share, for its first quarter that ended March 31, according to results released Thursday. Since late 2019, the Securities and Exchange Commission and the Department of Justice have been investigating problems with Fluor quarterly data filed during 2019, which prevented the company filing reports for 2020 until the issues are fixed. Fluor took a step in clearing up its problems last…

Congress

Baldwin Concerned With Army’s JLTV ‘Mismanagement,’ Seeks Support For Marines’ Procurement Plans

Sen. Tammy Baldwin (D-Wis.) has raised concerns with the “Army’s mismanagement” of the Joint Light Tactical Vehicle (JLTV) program, and is seeking assurance that the Marine Corps can be supported […]

Congress

SASC Cites Concern With Army’s sUAS Approach, Seeks Info On Plans To Scale Fielding

Senate defense authorizers are seeking more info from the Army on its plans for scaling and deploying small drone capabilities citing concern with the service’s current “fragmented and insufficient” approach. […]

SASC Bill Would Raise Amphib Requirement To 33 Ships

The Senate Armed Services Committee’s (SASC) fiscal year 2027 defense policy bill adds new provisions that would raise the Navy and Marine Corps’ minimum requirement for amphibious warships and extend […]

Army

Army Plans To Initiate ISV-Heavy Competition Later This Year, Official Says

The Army is planning to initiate its competition to build the Infantry Squad Vehicle (ISV)-Heavy in the fourth quarter of this year, a senior acquisition official has said. Jesse Tolleson, […]