Corporate News: Page 2

Clayco announces West Coast expansion

The contractor's new office will provide a home base for executives recently hired from other construction firms including Swinerton, McCarthy and Gilbane.

By Kim Slowey • May 26, 2021

Balfour Beatty shareholders oppose lack of board diversity

After acknowledging it hasn't met its own diversity goals for women, the U.K.-based contractor named another man as its incoming chairman. 

By Joe Bousquin • May 24, 2021

The country's largest construction firms announce earnings

While revenue, backlog and other markers of financial health varied among these contractors, all reported feeling the effects of the COVID-19 pandemic.

Michigan GC sells 50% share to global construction leader

The CEO of Sorensen Gross said its new partner has a history of building successful construction and real estate companies. 

By Kim Slowey • May 12, 2021

AECOM revenue steady as company anticipates a boom in civil work

Despite a 5% decrease in backlog, the company's construction management division won about $900 million of new work in the quarter.

By Jennifer Goodman • May 12, 2021

Jacobs' Q2 revenue holds steady at $3.5B

The company is one of the contractors expecting to benefit from the work that will likely be generated by government stimulus plans. 

By Kim Slowey • May 11, 2021

Tutor Perini CEO sees "tremendous amount" of infrastructure opportunity

The Los Angeles-based contractor announced $1.2 billion in first-quarter revenue yesterday, and said that its construction division income was boosted by several high-margin civil projects.

By Kim Slowey • May 06, 2021

Skanska reports Q1 revenue decrease, uptick in construction profitability

CEO Anders Danielsson said the company anticipates long lead times on U.S. federal infrastructure projects.

By Kim Slowey • May 03, 2021

AECOM launches ESG strategy

The company announced details today of its net-zero carbon goals that include decarbonizing fleet vehicles, partnering with suppliers and a 50% reduction in business travel.

By Jennifer Goodman • April 26, 2021

Construction's 40 under 40: 8 standout heroes of 2020

Learn how these eight construction team members tackled new challenges with innovative thinking, determination and resiliency.

Bechtel's 2020 revenue falls 19%

The multinational contractor's backlog and new awards also declined, as COVID-19 created "the toughest challenge in the company's history," CEO Brendan Bechtel said.

By Jennifer Goodman • April 05, 2021

Chevron cuts off funding for Canadian LNG project

Fluor holds the construction contract for the project, which includes the 293-mile Pacific Trail Pipeline and a natural gas liquefaction facility.

By Kim Slowey • March 25, 2021

Tutor Perini low bidder on Los Angeles LAX airport-Metro transit hub

Tutor Perini estimated that its contract would be approximately $478 million. Work on the project is expected to start in the third quarter.

By Kim Slowey • March 19, 2021

Former CEO Stephen Bechtel Jr. dies at 95

The engineer and businessman led his family's namesake construction firm for three decades, growing it into the country's largest contractor by revenue and a global infrastructure giant.

By Jennifer Goodman • March 16, 2021

Fluor revenue fell 9% in 2020

The construction and engineering firm ended 2020 with revenue of $15.7 billion and backlog of $26 billion, which was also lower than the previous year.

By Jennifer Goodman • March 01, 2021

San Francisco transit agency approves $147M in change orders for Tutor Perini Central Subway contract

The additional charges bring the general contractor's fee to more than $1.1 billion and extend final completion to Sept. 27.

By Kim Slowey • UPDATED: March 10, 2021 at 9:17 a.m.

Executive moves: AECOM, Holt, DPR, others make strategic appointments

Almost a year into the COVID-19 pandemic, construction companies are still making key promotions and appointments with growth in mind.

By Kim Slowey • Feb. 24, 2021

Lendlease operating profit falls 26% amid COVID-19 impacts

In a half-year earnings call yesterday, the Australia-based company also announced it has cut its dividend by 50%.

By Jennifer Goodman • Feb. 22, 2021

AECOM, Jacobs post year-over-year revenue gains

While both firms grew their top-line numbers, AECOM's sequential backlog shrunk by 3.5%.

By Joe Bousquin , Zachary Phillips • Feb. 10, 2021

Skanska 2020 earnings: Overall profit hits record high, construction revenue down 12%

The company's profitability, to a great degree, was driven by divestment in its commercial property segment.

By Kim Slowey • Feb. 08, 2021

Fortune magazine ranks construction's most admired firms

Jacobs and Quanta Services were No. 2 and No. 3 behind AECOM in the category of construction and engineering.

By Kim Slowey • Feb. 05, 2021

Fluor looks to reduce risk, increase oil and gas presence

The construction and engineering firm said it's also poised to take advantage of President Joe Biden's potential multitrillion-dollar infrastructure plan.

By Kim Slowey • Feb. 01, 2021

Fluor announces new organizational structure, plans to sell maintenance division

The Texas-based contractor says its updated organizational and reporting structure is better aligned with potential growth markets.

By Jennifer Goodman • Jan. 12, 2021

SoftBank comes to Katerra's rescue with critical $200M investment, takes majority stake

The new arrangement will allow the modular manufacturer to move forward and focus on its core businesses, according to its CEO. 

By Kim Slowey • Jan. 06, 2021

Suffolk joins other firms in expanding New York City presence

A new strategic hire demonstrates the Boston-based contractor's commitment to growing its market share in the New York region.

By Jennifer Goodman • Dec. 23, 2020