Page 2

PPI posts first decline since April 2020

After 20 months of sequential increases, the producer price index was 0.5% lower last month, the first negative reading since April 2020, with costs for nonresidential construction inputs dipping 1.8%.   

Report ties worker falls to company policies

In a CPWR survey, researchers found individuals working for subcontractors at the time of a fall are 2.7 times more likely to die compared to those employed by a general contractor.

Procore to expand into fintech services, CEO says

The company’s new system would purchase materials for subcontractors, securing payment against the property itself using lien rights.

Workers have power. A recession won’t change that, one executive says.

The argument over whether work should be virtual or in physical offices is “yesterday’s conversation,” according to one PwC leader.

WSP reports lower profits but higher revenue, adds RPS Group to buying spree

The Montreal-based contractor hopes the acquisition will bolster its environmental strategy.

Katerra factory buyer acquires Pennsylvania modular facility, targets multifamily construction

Volumetric Building’s new factory will create prefab units for construction projects in major markets in the Northeast, such as Philadelphia, New York City and Washington, D.C.

3 US cities with the biggest increases in construction costs

In a recent report, Rider Levett Bucknall called attention to the workforce shortage construction faces and highlighted the need for new workers.

‘Tougher times ahead’ for construction as July backlogs fall

As new work and profit expectations decline, ABC’s Anirban Basu said construction activity clearly “has begun to fade.”

AECOM raises guidance amid higher profits, lower revenue

Backlog at the 10th largest U.S. contractor increased by 3.5% to $41.1 billion, but COVID-19 in China and industry staffing shortages remain as challenges.

Virginia regulators approve Dominion Energy’s $9.8B offshore wind farm

The 2.6-GW project will be the largest wind farm in the U.S. and the first with diversity hiring requirements, the Sierra Club noted.

Skanska, Traylor Bros. break ground on $1.56B Portal North Bridge

The rail project, a critical part of the larger Gateway Program, will accelerate freight and commute times for NJ Transit and Amtrak riders.

$2.3B GreenCity to break ground in 2023 near Richmond, Virginia

The "eco district" development includes cross-laminated timber and solar power to minimize environmental impacts.

Tutor Perini posts wide-ranging loss, pulls guidance for 2022

The Los Angeles-based contractor blamed reduced project execution, COVID-19 impacts and a reversal of previously awarded legal damages for its results, which came in far below analysts’ expectations. 

Updated Aug. 5, 2022

Fluor misses on estimates, trims guidance

The Irving, Texas-based company reported an 11% revenue decrease and narrowed its high-end guidance.

July’s job gains ‘shockingly’ strong as construction adds 32K positions

The news wasn’t all good, though, as it gave the Fed more reason to keep raising interest rates.

PCL Construction’s solar division has its eye on the sky

The company’s solar work is thriving, and an executive said it will be a large part of its strategy going forward.

Where manufacturing grows, warehouse demand follows: CBRE exec

Construction Dive talks with James Breeze, senior director at CBRE, about why warehouse demand will increase because of onshoring, and the Middle America markets that will benefit from new construction.

AECOM-Hunt Turner tops out concrete frame at $2B Intuit Dome

The future home of the Los Angeles Clippers went from concrete foundation to its top deck pour in just six months.

White House details infrastructure act progress

Fact sheets break down funding and projects by state, more than eight months after the Infrastructure Investment and Jobs Act became law.