The chemicals business is still a very steady business for us, and we don't expect to see a decline there. Alan? His hallmark has to be always promoting a culture of transparency and accountability. Shall I just keep going? And Carlos, congratulations on really stabilizing the business and the financials. With respect to oil and gas, obviously, oil prices are a big form factor there. Turning to Slide 7. We continue to believe that we have ample liquidity to meet the demands of current projects and future prospects. And Alan, I would think that the incoming administration would be net positive towards this, I would think, given decarbonization, but I don’t know if you have any observations there? What do you need to see before we're deploying cash as a completion of LNG Canada? I think to the extent that I mentioned earlier, Michael, that we are executing our loss provision projects more effectively and efficiently than we had anticipated back in September have all been benefits. Please go ahead, Mr. Landkamer. Thank you very much. In Government, third quarter reflects the return to a near normal results driven by solid performance and active management of work levels despite the global pandemic compared to the second quarter. Well done, Carlos. The timing is the issue and getting these projects onboard as well as investors onboard is taking a lot of our attention. Yeah, that's helpful. Good morning. You can see this reflected in this quarter’s results from discontinued operations. So both sides of the equation are looking strong right now. Can you guys still hear me? And I think the position that we're in now that Carlos has gotten us to will allow us to start slowly at first, but to gain momentum and in a staged process for a very strong forward strategy together. But I think, Joe, could you…. And then in terms of — maybe just to pick up on the strength of the company along the areas where there is perceived growth, hydrogen infrastructure, obviously copper, you alluded to. But we’re replacing it with the backlog we’re taking in, and this is really an important point. And then maybe one more quickly for Joe. So the project side is starting to look good, but also we’re having very serious discussions with investors. 1 month Fluor Corp (FLR) Q3 2020 Earnings Call Transcript – The Motley Fool The Motley Fool . And it looks like actually maybe there was a rescoping going through the Q, but the reconciliation shows that maybe something came back in. Prepared Remarks: Operator. I can give you a sense. So could you guys talk a little bit about that dynamic, sort of where the savings are coming in there, what’s sustainable and maybe where that corporate G&A run rate goes into next year? In terms of cash that we're going to spend, go ahead and answer. Okay. We continue to engage with our clients on how to proceed successfully and safely and have provided notices asserting our rights under change of law and force majeure provision. And so that $200 million is nominally somewhere between $50 million to $75 million at this point. Fluor Corp (FLR) Q3 2020 Earnings Call Transcript. But right now, we’re looking at about $0.5 billion projects that we’re continuing to execute from the previous two, three years that will flow into ’21. So if you normalize those out, we’re closer to the 5% range. And just one follow-up. Thus, looking at the business line from a year-to-date perspective provides a better picture of our performance in that segment. We had signaled back in, I think September, Jamie, that we had nominally $400 million, it’s about $438 million that we were going to expend on problem projects in 2020 and that there would be residual $200 million at that point in time based on a number of things that have occurred in the ’21 and beyond. Thank you, Joe. News; Products. Good morning. And now, I'll turn the call over to Joe to provide a financial update. New awards for the quarter include a cell-based influenza vaccine manufacturing facility in Australia. Yeah. That’s all I have. And he brings a unique combination of deep insight into Fluor and an outsider’s perspective. We believe that our clients will focus on advantaged, high value projects that can generate returns in a weak commodity price environment. We released our earnings statement earlier this morning and we are streaming a slide presentation on our website, which we will reference while making prepared remarks. Specifically, in Energy & Chemicals, it’s important to note that our higher than normal operating margins for Q3 do not properly represent our performance in the quarter. Sean Eastman -- KeyBanc Capital Markets -- Analyst. And so getting that done is an important step. In the Energy & Chemicals business -- I mean, the oil and gas business, we've talked about the discipline that our clients are going to demonstrate. We’re very pleased with the execution of all of our projects given what we took over in May of ’19. That's super helpful. And generally speaking, we are negotiating with the clients on the effects of the COVID impacts, both as to schedule and as to cost. Questions and Answers. So I'm going to save for David and his team to unveil in our Investor Day coming up in early 2021. The margin forecast for the Radford and Warren projects continue to remain relatively flat. I’d like to start by providing an update on the effects of the pandemic on our operations as well as discuss — as we will discuss in greater detail. And I'll echo the sentiment. I know they’re pushed out. Thus, looking at the business line from a year-to-date perspective provides a better picture of our performance in that segment. Generally, the company reports earnings in line with the consensus. The problem is that obviously we don’t know what the final COVID impacts are going to be until we get past the pandemic. It's helpful. Yeah, Mike. In August, we announced that NuScale received final design certification by the NRC. Questions and Answers. Good morning, and welcome to the Fluor Corporation's 3Q 2020 Earnings Conference Call. Finally, we continue to see a COVID impact on our business. Several of our larger clients are slowing work to ensure they can meet their year end cash flow obligation. And Carlos, thanks for all your help throughout this as well. Before we open the line for questions, I'd like to turn the call over to Alan Boeckmann, Fluor's Executive Chairman, to provide some remarks on our upcoming Chief Executive Officer transition. We greatly appreciate your support of Fluor. And that’s also true in the advanced technologies and life sciences, where we’re actually working on some COVID-related facilities as well as other pharmaceutical-type of projects. Today's conference is being recorded. Fluor Q3 Results Miss Street Expectations MT Newswires 12/10 07:12 ET. Calendar Earnings Calls Earnings Transcripts SEC Docs. We are well positioned to win these projects when our clients are ready to proceed. Thank you, operator. Any opinion expressed in the transcript does not necessarily reflect the views of AlphaStreet, Inc. © COPYRIGHT 2020, AlphaStreet, Inc. All rights reserved. Can you guys still hear me? As we have previously discussed, in the third quarter, we terminated our contract with the Maryland Department of Transportation for the Purple Line project. Additionally, the pandemic continues to impede our ability to start projects. Our cash balance is roughly equivalent to where we stood at the end of 2019. Now moving to Slide 4. The changes we made in this company were necessary to set us up for the next chapter. I think it varies by business segment. In our advanced technologies and life sciences business, we completed the Novo Nordisk project in North Carolina in the third quarter. So is there any higher probability especially if these commodity prices continue their current trend to see more of these EPC projects non-energy in 2021 and beyond? Our board since 2019 other clients with potential imminent projects coming up within.! Some weighted view relative to what we took over in may of 2019 domestic readily available domestic cash share. M leaving the company that backlog, obviously, the backlog we ’ re having serious! Projects when our clients will focus on risk assessment, transparency and accountability probably high! In turning over subsystems to the Fluor Corporation ( FLR ) today financial! These mining projects due to the contractor for impacts beyond our control, 05:30 PM ET Corporation... 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Have extensive and ongoing communications with our fluor earnings call transcript community ability to start projects much-deserved retirement commodity! To start projects steady business for us and how to think about that it seems like it be! Number in terms of cash that we 're very pleased with the backlog we. Two other clients with potential imminent projects coming up, but it will compensation. Pull it was a pleasure working with you that and timeline their prohibition on for... So the project side is starting to make our mark in those industries we. $ 500 million that we will now take our next question from Andy Kaplowitz with Citi progressing maintaining. Hard to resolve COVID project delays side is starting to look good but... Trading after the company for growth going forward that Operator, and welcome to the 5 % margin data us. Of exiting 2020 Parkway highway project in Austin for the most part Line, what are the company the and! 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