Corporate News: Page 2

Salini Impregilo officially changes name to Webuild

Shareholders approved the move made in effort to help the Italian multinational contractor unlock more infrastructure projects at home and compete more internationally.

By Kim Slowey • May 07, 2020

Tutor Perini's strong Q1 sees little coronavirus impact, Jacobs's Q2 revenue up as well

Tutor Perini CEO Ron Tutor said the company anticipates bidding on several $1 billion-plus projects in the next few years, while Jacobs Engineering reported an 11% increase in revenue from last year's Q2.

By Kim Slowey and Jenn Goodman • May 07, 2020

Procore reportedly delays IPO pursuit

The construction software startup's move to delay an initial public offering is likely due to the coronavirus pandemic’s impact to the economy.

By Zachary Phillips • May 06, 2020

AECOM posts record $42B backlog amid COVID-19 crisis

The Los Angeles-based multinational contractor also saw revenue increase 5% compared to last year's Q2 as most of its 50,000 projects have continued despite the pandemic.

By Jenn Goodman • May 06, 2020

Lendlease seeks to raise AUD 1.1B in equity

The company also said last week senior staff and non-executive board members will take salary and fee cuts of up to 20% and that a decision on a final dividend for FY 2020 would be postponed.

By Jenn Goodman • May 05, 2020

370 Skanska projects impacted by COVID-19 so far

The coronavirus fallout is beginning to affect the multinational contractor in every region and sector where it operates worldwide, said CEO Anders Danielsson on an earnings call today.

By Jenn Goodman • April 28, 2020

Katerra lays off 7% of workforce in latest round of cuts

The layoffs, which amount to about 400 employees, will help to accelerate the offsite construction firm's "path to profitability," CEO Paal Kibsgaard said.

By Joe Beeton , Zachary Phillips • UPDATED: July 1, 2020 at 9:35 a.m.

Skanska, Balfour Beatty, Jacobs Engineering freeze or cut executive pay

In response to coronavirus-related economic turmoil, public construction firms are also delaying dividends and Fluor is preparing to ward off any hostile takeover bids.

By Jenn Goodman • April 01, 2020

Swinerton, Katerra, WSP and others make executive moves for future growth

With the uncertainty surrounding the coronavirus outbreak, leading construction companies need the right people in top positions now more than ever.

By Kim Slowey • March 25, 2020

Bechtel reports 14.5% dip in total revenue in 2019

The multinational energy contracting giant, considered the largest U.S. construction firm in terms of revenue, also reported decreases in backlog and new projects, while it's also experienced coronavirus-related setbacks in 2020.

By Jenn Goodman • March 20, 2020

Balfour Beatty profit up 8% amid US civil project delays and coronavirus monitoring

Despite an overall increase in U.S. revenue, CEO Leo Quinn said that around 18 civil projects there have fallen behind schedule, leading to reduced profitability in that sector.

By Kim Slowey • March 13, 2020

Judge approves McDermott reorganization, $2.7B sale of Lummus Technology

The confirmation by a U.S. Bankruptcy Court eliminates more than $4.6 billion of debt for the beleaguer​ed energy contractor.

By Jenn Goodman • UPDATED: March 13, 2020 at 11:32 a.m.

Questions about accounting practices drive SEC investigation into Fluor, internal probe for Granite

Fluor took large charge-offs in the second quarter of 2019, and Granite said it is reviewing prior financial reporting from its heavy civil division.

By Kim Slowey • March 10, 2020

Founders of modular builder Guerdon buy company assets, form new business

The owners, who bought the Idaho company in a foreclosure sale, say the new firm will capitalize on labor shortages and rising construction costs in West Coast markets.

By Kim Slowey • March 10, 2020

AECOM NYC office nabs MTA, Port Authority veterans

The hiring of former New York MTA CEO Tom Prendergast and former Port Authority COO Denise Berger will no doubt help AECOM tap into large public projects in a time when demand and competition are heating up.

By Jenn Goodman • March 05, 2020

SEC, some shareholders oppose McDermott Chapter 11 plan

The opposition stems from the plan's overly broad liability releases and the fact that management gets new equity while stockholders are shut out.

By Jenn Goodman • March 05, 2020

Procore files IPO paperwork with SEC

The Carpinteria, California-based construction tech firm says it has a potential $9.4 billion annual market opportunity for its software in the coming years.

By Kim Slowey • March 04, 2020

Tutor Perini calls off potential acquisition

Citing volatile market conditions, the Los Angeles-based contractor said that acquisition talks have been terminated.

By Jenn Goodman • UPDATED: May 14, 2020 at 9:30 a.m.

WSP CEO talks acquisition strategy in FY earnings call

Alexandre L'Heureux indicated the company is acquisitive but declined to comment on "market speculations," likely referencing the AECOM rumors, and noted that it's "very, very hard to time large-size acquisitions."

By Jenn Goodman • Feb. 27, 2020

Tutor Perini closes out 2019 with stable revenue, net loss

The company had two major charge-offs in 2019, one related to losing a court case related to the Alaskan Way Viaduct Replacement Project in Seattle and the other associated with a decrease in the price of its stock.

By Kim Slowey • Feb. 27, 2020

Lendlease reports 9% decline in construction profits

The Australia-based global contractor, which is finalizing one sale and looking for a buyer for another, also appointed an American to its board of directors.

By Jenn Goodman • Feb. 21, 2020

Fluor decides to keep government business, faces SEC investigation

Due to the Securities and Exchange Commission probe, the Texas-based contractor released limited FY 2019 financial information today, and noted that 2020 "is going to be a transition year" for the firm.

By Jenn Goodman • Feb. 18, 2020

Bankruptcy judge OKs McDermott's $106M bonus plan

The energy contractor, which filed Chapter 11 in January, has received permission to provide up to $26.8 million in total incentives for 13 management team members and the rest of the amount to 1,112 other key employees.

By Jenn Goodman • UPDATED: Feb. 25, 2020 at 9:38 a.m.

Q&A

New Swinerton CEO talks about growth in conversation with Construction Dive

Eric Foster discusses labor retention, construction technology and the importance of diversification as he takes the reins of the 132-year-old employee-owned company.

By Jenn Goodman • Feb. 14, 2020

AECOM, Skanska, Katerra, more switch up execs in new year

Suffolk, Granite and Swinerton have all made big personnel changes as well so far this year, and Thornton Tomasetti leadership changes are six-fold. Women and people of color are predictably underepresented.

By Kim Slowey • Feb. 12, 2020