Corporate News: Page 2

McDermott to file for Chapter 11

The struggling energy construction giant announced it would file a prepackaged restructuring plan at the U.S. Bankruptcy Court in Houston.

By Jenn Goodman • Jan. 21, 2020

AECOM-WSP deal could happen next week: Bloomberg

The newspaper reported that the acquisitive Canadian professional services firm approached the Los Angeles-based construction and engineering giant in January, and now it's saying the deal may be imminent.

By Jenn Goodman • Jan. 14, 2020

The public construction firms to watch in 2020

Risk reduction, deleveraging and even bankruptcy are on the table for some of the industry's top publicly traded companies this year.

By Jenn Goodman • Jan. 10, 2020

Gilbane taps former Skanska CEO in leadership rearrangement

New additions to the team, which center around the company's New York and New England divisions, include former CEO and president of Skanska USA, Rich Cavallaro.

By Kim Slowey • Jan. 10, 2020

Top trends: 5 ways construction will evolve in 2020

Though the nation's second-largest industry seems like it doesn't change much, there are myriad, nuanced forces shaping the way contractors do business and buildings get built, and more so now than ever before.

By Joe Beeton • Jan. 07, 2020

Rosendin names new executive team for 2020

The $2 billion employee-owned electrical contractor is transitioning five officials into leadership roles, including CEO, as part of a retirement succession plan. 

By Kim Slowey • Dec. 16, 2019

Katerra closing Phoenix modular building facility, laying off 200 workers

The California-based designer and builder of prefabricated components and mass timber modular units said it's on a growth path toward profitability next year despite having to close the 250,000-square-foot facility this month.

By Joe Beeton • Dec. 10, 2019

Dive Awards

Company of the Year: Haskell

Haskell not only embraces technology, but actively invests and innovates in the space to establish itself as a leader in a changing construction climate.

By Kim Slowey • Dec. 09, 2019

Dive Awards

Executive of the Year: Richard Kennedy, Skanska USA

Looking back on his 15 years leading one the nation's largest builders, he says, "You have to stand for something more than just quarterly and annual results," such as enterprising solutions that underline safety, diversity and inclusion.

By Kim Slowey • Dec. 09, 2019

STO, Layton to merge before year-end

Layton Construction and STO Building Group, formerly known as the Structure Tone Organization, announced the deal yesterday and said it would create one of the nation's largest construction firms. 

By Kim Slowey • Dec. 05, 2019

McDermott receives NYSE delisting warning

As the company staves off bankruptcy, it must also remedy that its average closing price of common stock has fallen below $1 per share over a period of 30 consecutive trading days, the minimum for continued listing. 

By Jenn Goodman • UPDATED: Dec. 16, 2019 at 8:58 a.m.

AECOM's Michael Burke to leave, opening door for new CEO and new chairman

The firm also announced today an agreement that will add three Starboard Value members to its board. "The company is at a point of major change ... and the timing seems appropriate," an analyst told Construction Dive.

By Jenn Goodman • Nov. 22, 2019

Construction's biggest executive moves in 2019

Some of the biggest players have appointed new leaders to maintain dominance as the industry anticipates headwinds.

By Kim Slowey • Nov. 20, 2019

AECOM has mixed results for FY, Q4 amid restructuring and strong backlog

The fourth-largest contractor in the country set a new revenue record overall despite a net loss as it continued to move away from some at-risk, self-perform construction work, exit countries and divest some business segments. 

By Jenn Goodman • Nov. 12, 2019

Tutor Perini's Q3: Operating cash, revenue, profit and backlog all up

The general contractor said its ability to collect on disputed change orders bumped its operating cash to record levels.

By Kim Slowey • Nov. 08, 2019

Skanska scores 324% operating profit increase YoY in Q3

The Swedish firm said a focus on profitability rather than volume helped it beat analysts' estimates.

By Kim Slowey • Nov. 07, 2019

Fluor reports $782M loss in Q3 2019

Amid major restructuring, a potential $1 billion sale and focus on project selections that mitigate risk, Fluor recorded another substantial loss.

By Joe Beeton • Nov. 01, 2019

Granite Construction's Q3 income plummets 63% year over year

During the California-based firm's latest earnings call, CEO James Roberts reiterated the company's commitment to smaller, less risky projects after another quarterly loss.

By Jenn Goodman • Oct. 28, 2019

Bloomberg: Procore could be headed toward IPO with $4B valuation

The report is based on unnamed sources who said the move could come by year end, by which time the construction management software provider is anticipated to bring in $400 million in 2019 revenue.

By Kim Slowey • Sept. 25, 2019

Fluor seeks to sell 2 divisions for $1B

The E&C giant will also close some offices in hopes it can cut costs by $100 million per year following two consecutive quarterly losses that put the company more than $613 million in the red.

By Jenn Goodman • Sept. 24, 2019

Katerra brings new execs to the table ​

The builder brought on a new director of the board, chief financial officer and head of affordable housing after hiring a new chief operating officer last month, as it opens its mass timber factory this week.

By Joe Beeton • Sept. 18, 2019

Lendlease sells troubled infrastructure business to Spanish contractor Acciona

The Australian firm, a leader in U.S. mixed-use development, sold its Engineering Services Division at a "bargain basement" U.S. $124 million.

By Jenn Goodman • UPDATED: Dec. 19, 2019 at 10:59 a.m.

The top 10 residential construction companies of 2019

These companies dominate the homebuilding industry in the U.S.

By Construction Dive Editors • Aug. 13, 2019

Tutor Perini's Q2 marks near-record backlog, new group CEO

The company is turning over lead of its Building and Specialty Contractors division to the former president and COO of Zachry Construction Corp.

By Kim Slowey • Aug. 12, 2019

AECOM records strong Q3 amid ongoing changes

AECOM’s construction segment reported $1.9 billion in revenue and a 50% larger backlog year over year, following announcements last year that it was undergoing major changes akin to several other major contractors. 

By Joe Beeton • Aug. 08, 2019