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 Jennifer 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 Jennifer Goodman • Updated March 13, 2020

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 Jennifer Goodman • March 5, 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 Jennifer Goodman • March 5, 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 4, 2020

Tutor Perini calls off potential acquisition

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

By Jennifer Goodman • Updated May 14, 2020

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 Jennifer 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 Jennifer 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 Jennifer 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 Jennifer Goodman • Updated Feb. 25, 2020

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 Jennifer 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

Bechtel opens NYC office to capitalize on infrastructure opportunities

The top contractor by revenue has opened a Manhattan office to improve work on transit and other projects in the area.

By Jennifer Goodman • Feb. 11, 2020

Skanska's construction division records 245% increase in earnings in 2019

The Swedish multinational recorded an operating margin of 2.4% and operating income of $3.8 billion Swedish krona (U.S. $394 million).

By Jennifer Goodman • Feb. 7, 2020

Suffolk rebrands, expands beyond construction

Suffolk's new strategy will see its increased involvement through the entire lifecycle of a construction project.

By Kim Slowey • Feb. 5, 2020

AECOM records Q1 earnings decline, finalizes division sale, stays mum on potential WSP merger

During the company's Q1 earnings call, CEO Michael S. Burke mentioned the search for his successor and announced the sale of the firm's Management Services division.

By Jennifer Goodman • Feb. 4, 2020

Lendlease names Mike Fratianni new managing director of its Americas construction division

Fratianni started his construction career in the trades and spent more than 30 years with the company that was to become AECOM Hunt.

By Kim Slowey • Feb. 4, 2020

John Laing CEO Olivier Brousse resigns

John Laing operations, including its billion-dollar-plus U.S. projects, should remain unchanged, a source close to the international infrastructure development firm told Construction Dive.

By Kim Slowey • Jan. 24, 2020

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 Jennifer Goodman • Jan. 21, 2020

WSP share sale renews rumors of AECOM deal

Some analysts report that a deal between the two engineering and construction giants could be back on the table.

By Jennifer Goodman • Updated June 3, 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 Jennifer Goodman • Jan. 10, 2020