Top Contractors Realize Gradual Revenue Gains
Several contractors in the mid-Atlantic region continue to report a gradual rise in revenue, but most firms in the area have not yet seen business strengthen to where it was before the recession.
In 2008, the top 10 contractors tallied combined revenue of $10.7 billion. In this year's survey, which ranks 2013 revenue, the top 10 firms' combined revenue was $9 billion. Of the 31 contractors on this year's list of top 50 firms that also reported 2008 revenue, only seven firms posted 2013 revenue that exceeded their results of five years earlier.
Still, some sectors are showing renewed life. Eight of the firms on this year's list reported that their largest projects to break ground in 2013 were multi-unit residential developments. Most of those projects are in the Washington, D.C., metro area. Major 2013 multi-unit residential groundbreakings include Balfour Beatty Construction's $166-million Metropolitan Park Phases 4/5 project in Arlington, Va.; Donohoe Construction's $96.6-million Tysons Corner Residential Tower in McLean, Va.; HITT Contracting's $72-million Atlantic Plumbing Apartments in Washington; and Foulger-Pratt Contracting's $62-million The Perry at Park Potomac Apartments in Potomac, Md.
Read on to see how the area's largest firms stack up in this year's ranking.