AECOM ups guidance after mixed Q3 results, resumes talks to sell units

Essential status of its infrastructure projects insulated the firm from COVID-19 initially, and AECOM beat Wall Street estimates. But the results came on lower revenue, and private business slowed in June.

By Joe Bousquin • Aug. 5, 2020

Jacobs announces slight uptick in Q3 revenue, extensive diversity-inclusion plan

The Dallas-based global construction and engineering firm reported that third quarter revenue increased by nearly 3% compared to last year. It also provided details about a new diversity action plan for staff, subcontractors and vendors.

By Jennifer Goodman • Aug. 4, 2020

Explore the Trendline➔

Top 5 stories from Construction Dive

Construction Dive editors curate some of the industry’s top stories from this year.

By Construction Dive staff

Citing FIU bridge collapse, feds propose 10-year debarment for FIGG

The company, which has been suspended for the time being, faces an unusually lengthy debarment that would ban it from participating in federally funded projects with the exception of subcontracts valued at less than $30,000.

By Kim Slowey • Aug. 3, 2020

Tutor Perini reports 13% Q2 revenue growth due to essential civil projects

The company's revenue rose to $1.3 billion, thanks to a 20% year-over-year increase in civil construction.

By Kim Slowey • July 30, 2020

Executive Moves: Clune, Jacobsen, Skanska, others promote for growth

The latest announcements consist of promotions from within leading construction companies and new hires as well.

By Kim Slowey • July 22, 2020

How US builders are overcoming coronavirus challenges

Since March, U.S. construction firms have been on the front lines of the country's new normal, formulating practices to help keep jobsites safe and operational. Here are some of their stories.

July 2, 2020

Lendlease reports FY loss of up to AUD 340M

The Australian company said profit will be between AUD 50 million and AUD 150 million, a sharp decline from the AUD 497 million recorded for the same time last year.

By Jennifer Goodman • July 2, 2020

McDermott exits Chapter 11 bankruptcy

The reorganization eliminates $4.6 billion of debt and provides the energy contractor's management with 7.5% of newly issued equity.

By Jennifer Goodman • July 1, 2020

Executive Moves: AECOM, Skanska, other changes for post-pandemic growth

Infrastructure is featured heavily in these latest executive promotions and hires that also include personnel at Burns & McDonnell, Shimmick and STV.

By Kim Slowey • May 28, 2020

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 7, 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 7, 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 6, 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 Jennifer Goodman • May 6, 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 Jennifer Goodman • May 5, 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 Jennifer 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

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 Jennifer Goodman • April 1, 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 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