Fluor Corporation (FLR) shares edged higher in Tuesday premarket trading after its joint venture with JGC Corporation secured Phase 2 of LNG Canada's export facility, with Fluor set to recognize a $7.5 billion share of the contract.

The award followed LNG Canada's final investment decision, clearing the joint venture to proceed with engineering, procurement, fabrication, construction and commissioning.

LNG Canada Phase 2 Expands Capacity

Phase 2 will add an LNG storage tank and two liquefaction trains, doubling production capacity to about 28 million tonnes annually and expanding processing, storage and shipping capabilities.

The project advances work that began in June, when JGC Fluor BC LNG II JV received a limited notice to proceed on Phase 2. The final investment decision and full notice to proceed now move the expansion into its next execution stage.

The award also builds on the joint venture's Phase 1 delivery, which started LNG production in June 2025 and completed handover in October 2025.

Fluor will recognize its share of the multibillion-dollar contract in the third quarter of fiscal 2026.

"LNG Canada Phase 1 was a landmark achievement for Fluor, and we are excited to carry that momentum into the next chapter," CEO Jim Breuer said.

JGC Fluor BC LNG II JV, owned equally by Fluor Canada Ltd. and JGC Constructors (No2) BC Ltd., will execute the Phase 2 work.

Key FLR Levels: 200-Day Support In Focus

Fluor is still holding above its 200-day SMA ($48.70), but trades 7.7% below its 20-day SMA ($54.13) and 5.3% below its 50-day SMA ($52.75), creating overhead resistance on rebounds.

The stock is also 1.8% below its 100-day SMA ($50.88), making that level a key near-term hurdle for trend followers.

Near-term momentum is cautious, with MACD below its signal line and a negative histogram.

However, the longer-term trend remains constructive, as the 50-day SMA is still above the 200-day SMA following February's golden cross.

• Key resistance: $50.88-$54.13, followed by $58.00.
• Key support: $48.70, followed by $46.50.

Earnings And Analyst Outlook

Fluor expects to report its next earnings on Nov. 6, 2026.

Wall Street expects EPS of 83 cents, up from 68 cents a year earlier, on revenue of $3.98 billion, compared with $3.37 billion.

Fluor carries a Buy consensus rating with an average price target of $64.

Recent analyst actions include UBS raising its target to $66, Truist Securities raising its target to $71, and Citigroup raising its target to $68. All three maintained Buy ratings.

FLR Price Action: Fluor shares were up 2.42% at $50.41 during premarket trading on Tuesday, according to market data.