Revenue Remains On The Rise For Regions Top Contractors
Revenue among top contractors is still on the rise, but some are reaping better results than others.
Revenue among top contractors is still on the rise, but some are reaping better results than others. The top 10 contractors on the 2015 ENR MidAtlantic Top Contractors ranking tallied a combined $9.9 billion in 2014 revenue, up from $9 billion in 2013. While these firms saw a roughly 10% improvement during that time, their combined total remains below pre-recession levels. In 2008, the top 10 contractors reported combined revenue of $10.7 billion.
Still, some firms have exceeded pre-recession revenue. Whiting-Turner’s regional revenue rose to $2.2 billion in 2014 from $1.8 billion in 2013—its highest sum ever reported to ENR. Recently, the company has banked on the surge in the region’s casino construction. Last year, it completed the Horseshoe Casino in Baltimore and started construction of the MGM Casino and Hotel at National Harbor, near Oxon Hill, Md., in suburban Washington, D.C. The company also posted improved revenue in the commercial and government sectors.
Turner Construction saw its revenue rise to $1.2 billion in 2014 from $975 million in 2013, thanks largely to increased business in health care. Skanska USA’s revenue jumped to $747 million from $637 million last year, thanks in large part to its work on transportation projects, such as the $2.2-billion Midtown Tunnel in Norfolk, Va., and the $64-million 11th Street Bridge Project in Washington.
But Clark Construction saw its revenue dip to $1.65 billion from $1.74 billion, while HITT Contracting and James G. Davis Construction also experienced revenue softening in 2014. Notably, all three firms saw reduced revenue in the commercial market.
The 2015 ENR MidAtlantic Top Contractors list is based on surveys of general contracting and construction management firms in Delaware, Maryland, Pennsylvania, Virginia, West Virginia and the District of Columbia.
Ranking of ENR MidAtlantic's 2015 Top Contractors by total revenue, click HERE