Reports of solid profits and prospects by some of the construction industry’s largest publicly traded power, environmental and infrastructure giants had to be music to Wall Street’s ears. The good news was delivered at Credit Suisse’s engineering and construction conference, held on June 4 in New York City. Fluor Corp. has a strong balance sheet and $2.3 billion in cash, Vice President Kenneth Lockwood told analysts and investors. “We think we’re doing well in a challenging environment,” he said. The firm reported $5.5 billion in first-quarter project awards, a $29.1-billion backlog and very little debt. Lockwood is optimistic about winning
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.