Fluor Completes Divestment of NuScale Power Stake, Realizing $2.43 Billion Gain

Fluor (NYSE: FLR) has announced the completion of the sale of its 126 million-share equity stake in NuScale Power (NYSE: SMR), concluding a divestment process that began in October. The move allows the engineering, procurement, and construction (EPC) firm to capitalize on the recent surge in nuclear energy valuations, particularly the growing interest in small modular reactors (SMRs). By exiting the equity position, Fluor removes the volatility associated with a pre-revenue technology firm from its consolidated financial statements. The company realized gross proceeds of $2.43 billion from an initial investment of $570 million made in 2011, representing a total return of 326% on the position. Fluor intends to utilize this capital windfall to fortify its balance sheet and reward shareholders. Specifically, the proceeds will be used to reduce the company's debt balance and provide support for its existing $1.4 billion share repurchase program. Despite the full sale of shares, Fluor maintains a strategic relationship with NuScale as a preferred EPC partner. This structural shift allows Fluor to earn service fees from the development of nuclear projects without the financial risks associated with equity ownership. Beyond its work with NuScale, Fluor is aggressively expanding its footprint in the broader energy transition. The company is currently pursuing opportunities in carbon capture, utilization, and storage (CCUS), as well as hydrogen production. Additionally, Fluor is scaling its Urban Solutions segment to meet the rising demand for critical minerals, including lithium, copper, and nickel, essential for clean energy infrastructure.