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. 5, 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 Jennifer Goodman • Updated Dec. 16, 2019

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Top 5 stories from Construction Dive

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

By Construction Dive staff

AECOM names new CEO

Amid the resignation of search committee head Peter Feld, the board appointed current CFO W. Troy Rudd as chief executive officer.

By Jennifer Goodman • Updated June 15, 2020

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 Jennifer 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. 8, 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. 7, 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. 1, 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 Jennifer 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 Jennifer 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 Jennifer Goodman • Updated Dec. 19, 2019

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. 8, 2019

Fluor re-evaluates risk, project selection amid $555M Q2 loss

"We must take a more disciplined approach to risk assessment," CEO Carlos Hernandez said. "We're focusing on profitability and cash generation."

By Joe Beeton • Aug. 7, 2019

On $97M quarterly loss, Granite Construction shifts to smaller projects

Disputes on recent multi-billion-dollar projects in the firm's heavy civil sector have caused Granite to re-evaluate its project delivery methods and its role in P3 contracts and JVs.

By Jennifer Goodman • Aug. 3, 2019

Elon Musk's The Boring Co. raises $120M

Adding to the $113 million it raised last year, the infusion signals continued interest from outside investors in fueling the tunnel-drilling and transportation tech firm's current and proposed projects.

By Anying Guo • July 30, 2019

Caterpillar had to raise prices in light of tariffs last quarter

The steel and aluminum tariffs imposed in 2018 cost the construction equipment manufacturer an extra $70 million in the second quarter, making it hard to maintain margins.

By Shefali Kapadia • July 26, 2019

Consigli acquires T.G. Nickel

T.G. Nickel, a New York-based firm behind some of the highest-profile renovations and projects along the East Coast, will be rebranded July 1 as Consigli, a $1.6 billion company.

By Kim Slowey • June 27, 2019

Skanska chief says no more big write-downs: Bloomberg

One of the firm's ongoing strategies is to be more selective about the type of work it takes on. 

By Kim Slowey • June 20, 2019

ENR's Top 400 2019: Bechtel holds No. 1 in market growth streak

Nearly 69% of the contractors participating in the list increased revenue in 2018 compared to a year prior.

By Kathleen Brown • May 24, 2019

The top 10 reasons contractor succession planning has evolved

Societal and economic forces like the labor shortage and the rise of technology have changed the way construction business owners plan their next steps.

By Wayne Rivers • May 21, 2019

Hard hats to helmets: How Skanska, Clark are improving workers' last line of defense

Traditional hard hats account for falling objects, not falling workers. Some general contractors are providing a more effective layer of protection.

By Kathleen Brown • May 20, 2019