Fluor CorporationFLR

Much of the world's easily accessible natural resources have already been harvested, meaning future mining and extraction projects will increasingly take place in remote areas. Fewer companies can service these types of projects, which should benefit Fluor.

Fluor has a solid balance sheet with plenty of cash to spare for buybacks and to make strategic bolt-on acquisitions where necessary.

Major multiyear project awards will provide top-line stability over a number of years.

The European E&C market has been very quiet in recent years; an economic rebound in that region could be a growth catalyst. Read more 

Fixed price contracts will become more common in the coming years. Though they can carry higher margins than cost-plus contracts, fixed-price contracts are also riskier as they put more of the burden on the contractor to control costs and manage unforeseen circumstances like poor weather.

With more than 40,000 employees around the world, rising labor costs in emerging markets could keep pressure on margins.

Working on large projects in remote areas of the world may create a greater chance of cost overruns and geopolitical risks.

As the company gets bigger, it will need to win more "elephant" projects--those generating at least $1 billion in revenue--to generate steady growth, but there may not be enough to go around, especially in the case of a recessionary environment. Read more