Northeast Specialty Contractors Report Mixed Revenue Results

Sessler, ranked No. 15 on the ENR New York Top Specialty Contractors list, works on the Massena East Paste Plant in Massena, N.Y., which involves separation and controlled demolition of the facility to the top of a slab.
*Photo by Kaitlin Smith, courtesy Sessler*

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ENR New York 2024 Top Specialty Contractors

ENR New England 2024 Top Specialty Contractors

Specialty contractors working on the East Coast had a mixed bag of revenue results last year. New York and New Jersey companies submitting 2023 regional revenue data to this year’s ENR New York Top Specialty Contractor ranking performed well, but those submitting to the ENR New England Top Specialty Contractor list were less fortunate.

The top 10 firms in the New York region collectively increased revenue by 30% to $2.6 billion, up from $2 billion on last year’s survey. Regional revenue for the top 10 New England firms—which includes those working in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont—decreased 33.3% to $1.2 billion from last year’s $1.9 billion.

Chart by ENR

On the New York regional list, three firms from the 2023 top five remain near the top, while two companies that did not appear on last year’s ranking fared well in their list debuts.

E-J Electric Installation Co. once again finished first in the ranking. The Long Island City-based firm selected as ENR New York Specialty Contractor of the Year in 2021 reported $852 million in regional revenue, a 29.3% increase from last year’s total of $659 million.

“We believe this market will stay hot through 2026 and continue to be active outside of that.”
— David Anzalone, President, Advanced Exteriors & Glazing of New England

Lynchburg, Va.-based Banker Steel, which is working on the JFK International Airport Terminal One in Queens, was ranked second in its debut with revenue of $479.66 million. The other new entrant is Long Island City-based C.A.C. Industries Inc., which reported $235.68 million to finish fourth. Performing 100% utility work, the firm is working on the South Battery Park City Resiliency Project Pier A Plaza/Battery Sitework and Near Surface Isolation project, a flood barrier system in lower Manhattan.

Electra USA Inc. was ranked third for the third straight year. The firm’s $261.49 million in revenue was 12.8% higher than the $231.8 million it reported in last year’s ranking.

Urban Foundation/Engineering LLC, this year’s ENR New York Specialty Firm of the Year (see story p. NYNE18), was ranked No. 11 with $91.7 million in revenue, up 21.8% from the year-ago period.

BOND Civil & Utility, ranked No. 12 on the New York list and No. 3 on the New England ranking, was a joint venture partner in the Boston Logan International Airport Terminal B-C Roadway Revitalization Project.
Photo courtesy BOND Brothers Inc.

Five Is Alive

Despite only a 0.61% revenue increase, Wayne J. Griffin Electric Inc. was ranked No. 1 on the New England list for the fifth straight year. The Holliston, Mass., firm’s $347.5 million in revenue was up from the $345.4 million it reported last year.

After a year hiatus, E.M. Duggan returns to the list one slot higher than it was last ranked. The Canton, Mass., firm—named the 2022 ENR New England Specialty Firm of the Year—held the No. 3 ranking for three straight years prior to last year. The mechanical firm reported $307.76 million in revenue on this year’s survey, up from the $222.30 million in regional revenue logged two years ago.

With $224.93 million in revenue, Bond Civil & Utility Construction Inc. rose one spot to No. 3 this year. Last year it was No. 4 with $205.75 million. The Medford, Mass., firm is also ranked No. 12 on the New York survey with $87.33 million, up 9.4% from last year when it placed at No. 9 with $79.8 million in revenue.

Chart by ENR

Bond says infrastructure investment work has provided significant opportunities in the New York region across several key sectors, especially for wastewater treatment plants. The firm says the energy sector, particularly in New England, is also experiencing significant growth opportunities driven by expanding offshore wind energy development and electric transmission markets.

But these “could undergo significant shifts depending on the outcomes of the upcoming November elections,” says Kane Cuddy, president of Bond Civil & Utility. “Those who are prepared to adapt and navigate market conditions will be crucial in driving growth, both for the industry and for their organizations. Flexibility and a proactive approach will be key in capitalizing on opportunities as the market continues to evolve.”

Banker Steel, No. 2 on the New York list, fabricated structural steel for 270 Park Avenue—the 60-story global headquarters of JP Morgan Chase in midtown Manhattan.
Photo by Michael Young, courtesy DBM Global

Public education construction has “indisputably been the most active sector in our market,” says David Anzalone, president of Advanced Exteriors & Glazing of New England LLC. “People are investing in their communities with this infrastructure and, more importantly, in our future generations.”

The Salem, N.H., firm, which does glazing and curtain wall work, was ranked No. 16 on the New England specialty contractor list, reporting $24 million in revenue, up 56% from last year’s $15.39 million. “Aside from unforeseen interference, we believe this market will stay hot through 2026 and will continue to be active outside of that,” Anzalone contends.