Dive Brief:

• With $21.8 billion in total revenue for 2019, Bechtel remains atop ENR's Top 400 contractors list for 2020. The Turner Corp., AECOM, Whiting-Turner and Kiewit Corp. round out the rest of the top five.
• Collectively, the top 400 generated a record $414.38 billion in revenue last year, up 2.3% from 2018. U.S.-based projects generated a collective $387.85 billion, up 5.1% from 2018, while revenue from projects outside the country was $26.53 billion, down 26%.
• However, Fluor Corp. and Granite Construction, ranked 2nd and 24th, respectively, on last year's list, did not report earnings to ENR and were not included in the 2020 top 400. The contractors are conducting internal audits after the Securities and Exchange Commission questioned their financial reporting and were barred from sharing their numbers before releasing them to the public, ENR said. 

Dive Insight:

Bechtel, which is No. 14 on the Forbes list of top privately owned companies, had notable projects in the last few years with Cheniere Energy’s $11 billion Liquefaction project in Texas, and Tellurian’s $27.5 billion Driftwood LNG export terminal in Louisiana. Last year, Bechtel was selected by NASA to design, construct and commission Mobile Launcher 2, which will be used to assemble and launch the next version of the Space Launch System rocket. The firm said the contract is worth about $383 million.

The Reston, Virginia-based firm recently opened an office in Manhattan to take advantage of the infrastructure project demand in the New York City area.

​​STO Building Group Inc. moved up the most spots on the top 20 list, ascending to No. 7 from No. 14 last year. McDermott International also moved up — from No. 9 to No. 6 — although the filed for Chapter 11 in January and is now undergoing a restructuring.

In addition to Fluor and Granite not sharing their 2019 revenue with ENR, Primoris Services Corp. did not file a survey. ENR said the company, which is shifting its business model to focus on utility contracting, will fill out a survey for the ENR Top 600 Specialty Contractors. Last year, Primoris ranked 28th on the last year's Top Contractors list with $2.94 billion in 2018 revenue. 

Entering 2020, construction revenue seemed promising for the new year, but that quickly changed when the coronavirus shut down most of the country. Now, ENR said, many contractors — especially in New York, Boston and Michigan where most construction halted — fear large revenue losses even as work begins to resume. Meeting new requirements and safety protocols will lead to more costs, and the need for more collaboration between subcontractors and contractors on different practices, creating a financial landscape that remains uncertain, industry experts agree. 

Since the pandemic began, the top 10 firms have taken measures to protect their financial viability. For instance, Skanska is not increasing fees for its board of directors and AECOM has decided to temporarily reduce salaries among its board members, executive leadership team and other senior leaders by 20%.

The 2020 ENR top 10 contractors ranked by 2019 revenue are:

1. Bechtel

   • Based in Reston, Virginia

   • 2019 rank: 1

2. The Turner Corp.

   • Based in New York City

   • 2019 rank: 3

3. AECOM

   • Based in Los Angeles

   • 2019 rank: 4

4. The Whiting-Turner Contracting Co.

   • Based in Baltimore, Maryland

   • 2019 rank: 5

5. Kiewit Corp.

   • Based in Omaha, Nebraska

   • 2019 rank: 6

6. McDermott International

   • Based in Houston

   • 2019 rank: 9

7. STO Building Group Inc.

   • Based in New York City​

   • 2019 rank: 14

8. Skanska USA

   • Based in New York City

   • 2019 rank: 7

9. PCL Construction

   • Based in Denver​

   • 2019 rank: 8​

10. Gilbane Building Co.

    • Based in Providence, Rhode Island
       
    • 2019 rank: 11