Turner overtakes Bechtel as the country’s top contractor by revenue

Dive Brief:

• With much more than $14 billion in income, Turner Design has overtaken Bechtel as the largest contractor by earnings, in accordance to Engineering Information-Record’s Leading 400 contractors listing for 2021. Bechtel had held the top rated location for the previous two a long time.
• Aggregate income for the best 400 arrived at $414.88 billion, up from $414.38 billion the yr prior to. Median revenue for the prime contractors arrived at $501.9 million last calendar year, up from $492 million in 2019, ENR claimed.
• Fluor, Kiewit and Whiting-Turner rounded out the leading five contractors on the record. Fluor was absent from the listing in 2020, as it was conducting an inner audit following a Securities and Exchange Fee investigation into its fiscal reporting. Granite Construction was also absent because of to an SEC investigation very last year, but returned in 2021, earning the 25th spot with roughly $3.6 billion in earnings.

Dive Insight:

Turner’s $14.4 billion in 2020 revenue was marginally lower than when it held the 2nd-top rated place in 2019 with $14.6 billion. Bechtel claimed $15.9 billion in building profits in 2019 and $12.2 billion in 2020, a 19% fall in overall income.

In 2020, Bechtel dropped ground on new do the job and backlog, which dropped by $2.5 billion and $1.6 billion, respectively. CEO Brendan Bechtel explained the COVID-19 pandemic as “the hardest challenge in our firm’s background” at the time. Nonetheless, he reported, the contractor’s balance sheet was potent and Bechtel carried no personal debt.

In December 2020, Design Dive named Turner as its Organization of the Year for the way the contractor responded to racially billed incidents on jobsites head on. The award came a couple of months immediately after Turner’s joint enterprise with AECOM Hunt had completed SoFi Stadium in Inglewood, California, the most significant NFL job to date.

Other big moves inside of the prime 10 involve Tutor Perini leaping to 7th place, immediately after ranking 14th in 2020. AECOM dropped to 8th for 2021, after rating 3rd in 2020 and DPR made an visual appearance on the prime 10 immediately after position 12th last 12 months.

Below is a seem at the best 10 firms and their profits: