Corporate News

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.

By Matthew Thibault • Aug. 10, 2022

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.

By Joe Bousquin • Aug. 9, 2022

Pitch perfect: An AEC marketer’s guide to winning proposals

Ready to raise your proposal game, increase win rates and fill your pipeline with more clients and projects your firm desires?

Aug. 8, 2022

Fluor misses on estimates, trims guidance

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

By Sebastian Obando • Aug. 5, 2022

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. 

By Joe Bousquin • Updated Aug. 5, 2022

Amazon slows network expansion in response to cooling customer demand

The e-commerce giant estimates 40% of its capital investments this year will go toward warehouses and transportation capacity, down from 55% in 2021.

By Max Garland • Aug. 4, 2022

Granite chalks up 3 highway wins for combined $78M

The firm nabbed the projects in California and Texas as part of its new “home market” strategy.

By Joe Bousquin • Aug. 3, 2022

Jacobs reports higher profits, more backlog but forecasts weak fourth quarter

The Dallas-based technical, professional and construction services firm beat both earnings and revenue estimates, but lowered its guidance for Q4.

By Sebastian Obando • Aug. 2, 2022

Granite’s Q2 profit, revenue dip as company continues strategic shift

The Watsonville, California-based civil contractor said the infrastructure act remains a bright spot ahead as it battles labor woes and works through less profitable projects.

By Julie Strupp • July 29, 2022

Samsung proposes $191B Texas semiconductor project

A critical factor for this potential massive investment in Taylor, Texas, is the passage of the CHIPS Act, currently under consideration by Congress.

By Sebastian Obando • July 25, 2022

Jacobs wins $310M UK nuclear site project

The Dallas-based construction firm will deliver civil, mechanical and electrical engineering services for one of Britain’s most complex nuclear sites.

By Sebastian Obando • July 22, 2022

Not just warehouses: Amazon pulls back on office projects, too

The e-commerce giant said it's pausing buildouts on six office towers in Bellevue, Washington, as well as another in Nashville, Tennessee.

By Sebastian Obando • July 15, 2022

Fluor wins contract for Gulf Coast liquefied natural gas project

It’s the second offshore modular mid-scale LNG plant contract that Fluor has received from New Fortress Energy in 2022.

By Sebastian Obando • July 13, 2022

How a $55M Alaska highway win reflects Granite's new strategy

The Knik-Goose Bay Road project near Wasilla checks several boxes for the California contractor’s recent approach of pivoting away from high-risk, longer time frame projects. 

By Joe Bousquin • July 8, 2022

Webcor exec rotated through a range of roles to achieve her latest promotion

The senior vice president of planning urges other women in the industry to think long term and “bring their authentic voices to the table.”

By Jennifer Goodman • July 6, 2022

Amazon cancels, delays wave of warehouse projects as e-commerce demand cools

Shifts in plans have affected at least 13 facilities, including locations in Texas, Florida, Louisiana, Tennessee and California, according to local news reports.

By Max Garland • July 5, 2022

Court summons Microsoft, Skanska, Balfour Beatty in bias suit

A Black construction worker alleged in federal court documents that he found a sign that said "This is not a safe space" after a supervisor told him he didn't like Black people. 

By Joe Bousquin • June 29, 2022

Why Amazon's warehouse pullback is good news for contractors

The e-commerce giant has slowed its building spree, freeing up hard-to-find materials and land for other projects in the booming sector.

By Sebastian Obando • June 13, 2022

Walmart plots 4 new 'next generation' fulfillment centers

The facilities incorporate an automated storage and retrieval system while also employing 4,000 new workers, and could serve 75% of the U.S.

By Ben Unglesbee • June 8, 2022

UK prefab design company targets US expansion

Bryden Wood's "kit-of-parts" approach leverages components that are similar on each project while also providing opportunities for customization.

By Sebastian Obando • May 25, 2022

Is the seller-doer model right for your AEC firm?

Read on to find out what factors to consider before making the switch and how to set your seller-doers up to thrive.

May 23, 2022

Balfour Beatty Communities faces new scrutiny for military housing as parent company wins DOD contract

A Senate subcommittee report alleged untreated mold growth, cracked floor tiles held together by packing tape and broken appliances.

By Leslie Shaver • May 18, 2022

Clark announces expansion in mid-Atlantic

The country's 13th largest contractor will add office space in Virginia and Maryland this year to help expand its regional footprint.

By Jennifer Goodman • May 17, 2022

The top 10 residential builders of 2022

Dallas, Texas-based D.R. Horton remains at the top of the list for the 20th year in a row with 81,981 homes closed last year.

By Mary Salmonsen • May 16, 2022

WSP beats earnings expectations, maintains guidance

The Canadian contractor saw strong backlog growth in the first quarter and said its 2022 plans already account for inflation. 

By Julie Strupp • May 13, 2022