Each summer, Southwest Contractor conducts a survey of the top specialty contractors. The results were recently published our August/September edition. Since we’ve been doing the ranking for years, it is interesting to compare this year’s totals with those of the recent past, which can help us spot important industry trends. Here’s a peak behind the numbers.
Compared to general contractors and design firms, which are also ranked annually, subcontractors have fared worse during the current recession. The top 100 fell nearly 40% in 2009 compared to the previous year. Compared to five years ago, revenue fell more than 16%.
Nevada was the hardest hit state, with subs losing more than half of their revenue last year. New Mexico market dropped the least, with $346.3 million reflecting a 24% drop. Arizona subcontractors fell 36% to just over $2 billion.
Concrete contractors reported only $214 million in revenue, the lowest amount in the past five years by a long shot. However, I suspect that part of the drastic 68% drop was due to the lack of full participation in the survey by this type of subcontractor and because more and more general contractors are self-performing concrete. Steel was also hard hit, dropping 71% from the previous year at only $245 million.
Below are the totals for each state and category, comparing this year’s numbers to the totals from each of the past five years.
Top 100 Specialty Contractors:
2005: $4.23 billion
2008: $5.8 billion
2009: $3.55 billion
One-Year Change: -38.8%
Five-Year: -16.1%
Top 10 Specialty Contractors:
2005: $1.80 billion
2006: $1.78 billion
2007: $2.02 billion
2008: $2.28 billion
2009: $1.34 billion
One-Year Change: -41.1%
Five-Year: -25.4%
Top Arizona Specialty Contractors:
2005: $2.32 billion
2006: $3.19 billion
2007: $3.32 billion
2008: $3.19 billion
2009: $2.03 billion
One-Year Change: -36.3%
Five-Year: +1.7%
Top Nevada Specialty Contractors:
2005: $1.87 billion
2006: $1.92 billion
2007: $2.22 billion
2008: $2.49 billion
2009: $1.2 billion
One-Year Change: -52%
Five-Year: -35.8%
Top New Mexico Specialty Contractors:
2005: $307 million
2006: $402 million
2007: $517 million
2008: $454 million
2009: $346.3 million
One-Year Change: -23.8%
Five-Year: +12.8%
Top Concrete Contractors:
2005: $438 million
2006: $645 million
2007: $862 million
2008: $670 million
2009: $214 million
One-Year Change: -68%
Five-Year: -51%
Top Electrical Contractors:
2005: $758 million
2006: $907 million
2007: $1.13 billion
2008: $1.27 billion
2009: $991 million
One-Year Change: -22%
Five-Year: +31%
Top Mechanical Contractors:
2005: $699 million
2006: $918 million
2007: $959 million
2008: $1.07 billion
2009: $719 million
One-Year Change: -32.5%
Five-Year: +3%
Top Painting & Coatings Contractors:
2005: $32 million
2006: $65 million
2007: $110 million
2008: $72 million
2009: $38.8 million
One-Year Change: -46%
Five-Year: +21%
Top Plumbing Contractors:
2005: $220 million
2006: $271 million
2007: $260 million
2008: $443 million
2009: $195 million
One-Year Change: -56%
Five-Year: -12%
Top Roofing Contractors:
2005: $73 million
2006: $165 million
2007: $175 million
2008: $155 million
2009: $139 million
One-Year Change: -10%
Five-Year: +90%
Top Steel Erection & Fabrication Contractors:
2005: $522 million
2006: $767 million
2007: $835 million
2008: $840 million
2009: $245 million
One-Year Change: -71%
Five-Year: -53%
Top Wall, Ceiling & Interior Finish Contractors:
2005: $406 million
2006: $447 million
2007: $577 million
2008: $426 million
2009: $296.4 million
One-Year Change: -30%
Five-Year: -27%
Top Masonry Contractors:
2005: $114 million
2006: $239 million
2007: $174 million
2008: $127 million
2009: $52.5 million
One-Year Change: -59%
Five-Year: -54%
Top Excavation, Foundation & Utility Contractors:
2005: $488 million
2006: $508 million
2007: $344 million
2008: $279 million
2009: $337 million
One-Year Change: +21%
Five-Year: -31%
Top Demolition Contractors:
2005: $18.7 million
2006: $17.5 million
2007: $27.2 million
2008: $10.3 million
2009: $9.3 million
One-Year Change: -9%
Five-Year: -50%
Top Glazing & Exterior Finish Contractors:
2005: $35 million
2006: $65 million
2007: $69 million
2008: $101 million
2009: $88 million
One-Year Change: -13%
Five-Year: +152%
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Compared to general contractors and design firms, which are also ranked annually, subcontractors have fared worse during the current recession. The top 100 fell nearly 40% in 2009 compared to the previous year. Compared to five years ago, revenue fell more than 16%.
Nevada was the hardest hit state, with subs losing more than half of their revenue last year. New Mexico market dropped the least, with $346.3 million reflecting a 24% drop. Arizona subcontractors fell 36% to just over $2 billion.
Concrete contractors reported only $214 million in revenue, the lowest amount in the past five years by a long shot. However, I suspect that part of the drastic 68% drop was due to the lack of full participation in the survey by this type of subcontractor and because more and more general contractors are self-performing concrete. Steel was also hard hit, dropping 71% from the previous year at only $245 million.
Below are the totals for each state and category, comparing this year’s numbers to the totals from each of the past five years.
Top 100 Specialty Contractors:
2005: $4.23 billion
2008: $5.8 billion
2009: $3.55 billion
One-Year Change: -38.8%
Five-Year: -16.1%
Top 10 Specialty Contractors:
2005: $1.80 billion
2006: $1.78 billion
2007: $2.02 billion
2008: $2.28 billion
2009: $1.34 billion
One-Year Change: -41.1%
Five-Year: -25.4%
Top Arizona Specialty Contractors:
2005: $2.32 billion
2006: $3.19 billion
2007: $3.32 billion
2008: $3.19 billion
2009: $2.03 billion
One-Year Change: -36.3%
Five-Year: +1.7%
Top Nevada Specialty Contractors:
2005: $1.87 billion
2006: $1.92 billion
2007: $2.22 billion
2008: $2.49 billion
2009: $1.2 billion
One-Year Change: -52%
Five-Year: -35.8%
Top New Mexico Specialty Contractors:
2005: $307 million
2006: $402 million
2007: $517 million
2008: $454 million
2009: $346.3 million
One-Year Change: -23.8%
Five-Year: +12.8%
Top Concrete Contractors:
2005: $438 million
2006: $645 million
2007: $862 million
2008: $670 million
2009: $214 million
One-Year Change: -68%
Five-Year: -51%
Top Electrical Contractors:
2005: $758 million
2006: $907 million
2007: $1.13 billion
2008: $1.27 billion
2009: $991 million
One-Year Change: -22%
Five-Year: +31%
Top Mechanical Contractors:
2005: $699 million
2006: $918 million
2007: $959 million
2008: $1.07 billion
2009: $719 million
One-Year Change: -32.5%
Five-Year: +3%
Top Painting & Coatings Contractors:
2005: $32 million
2006: $65 million
2007: $110 million
2008: $72 million
2009: $38.8 million
One-Year Change: -46%
Five-Year: +21%
Top Plumbing Contractors:
2005: $220 million
2006: $271 million
2007: $260 million
2008: $443 million
2009: $195 million
One-Year Change: -56%
Five-Year: -12%
Top Roofing Contractors:
2005: $73 million
2006: $165 million
2007: $175 million
2008: $155 million
2009: $139 million
One-Year Change: -10%
Five-Year: +90%
Top Steel Erection & Fabrication Contractors:
2005: $522 million
2006: $767 million
2007: $835 million
2008: $840 million
2009: $245 million
One-Year Change: -71%
Five-Year: -53%
Top Wall, Ceiling & Interior Finish Contractors:
2005: $406 million
2006: $447 million
2007: $577 million
2008: $426 million
2009: $296.4 million
One-Year Change: -30%
Five-Year: -27%
Top Masonry Contractors:
2005: $114 million
2006: $239 million
2007: $174 million
2008: $127 million
2009: $52.5 million
One-Year Change: -59%
Five-Year: -54%
Top Excavation, Foundation & Utility Contractors:
2005: $488 million
2006: $508 million
2007: $344 million
2008: $279 million
2009: $337 million
One-Year Change: +21%
Five-Year: -31%
Top Demolition Contractors:
2005: $18.7 million
2006: $17.5 million
2007: $27.2 million
2008: $10.3 million
2009: $9.3 million
One-Year Change: -9%
Five-Year: -50%
Top Glazing & Exterior Finish Contractors:
2005: $35 million
2006: $65 million
2007: $69 million
2008: $101 million
2009: $88 million
One-Year Change: -13%
Five-Year: +152%
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