In this article, we will look at the top construction companies in the US in 2021.
Like most industries, the construction and engineering sectors have taken a heavy hit due to the COVID-19 pandemic. Work had to be stopped or slowed down to prevent the spread of this infectious disease, and as a result, companies are suffering major losses. Companies like Fluor Corporation (NYSE: FLR), HOCHTIEF Aktiengesellschaft (XETRA: HOT.DE) and AECOM (NYSE: ACM) have all seen their revenues fall in 2020. The pandemic has also disturbed transport across the globe, which has led to the disruption of the supply chain of many companies. Reduction in revenues means many companies are also laying off their workers. In the first quarter of 2020, the industry managed to add $900 billion to the US economy, but after the pandemic hit, they suffered major losses. The industry lost $60.9 billion, and jobs decreased to 6.5 million. This all amounted to two years of GDP gains and four years of job gains.
However, companies like Skanska AB (publ) (STO: SKA-B.ST), Mcdermott International Ltd. (OTC: MCDIF), and Tutor Perini Corporation (NYSE: TPC) that have gone through the 2008 recession knew what to expect and were better prepared. They had control over their leverage and credit and created a cushion with cost savings. However, the effects of the pandemic are still felt as despite having no shortage of orders, difficultly getting permits, delays and cancellations mean increased costs for companies. Problems in the supply chain also mean higher procurement costs for material and equipment.
Despite this, the future outlook is positive. Improvements in communication technologies and associated investments have helped many firms become more efficient. The industry is expected to grow by 5.2% in 2021, which is 2.5% higher than the output level of 2019. However, the output will still be $1.1 trillion lower than what could have been achieved without the coronavirus crisis. Nevertheless, the industry will bounce back. It is one of the most integral to the modern world, necessary to help developing countries progress and keep developed countries running smoothly. People will always need roads, access to clean water, and safe places to live. Over 100 million people are employed in the construction industry, and the money spent annually on construction worldwide is expected to pass the $3.2 trillion mark by 2040. Countries will increase their infrastructure budgets, and the global population continues to rise, and the need to accommodate more people grows.
As the economic activity rebounds in the US, major construction companies like D R Horton Inc (NYSE: DHI), Lennar Corporation (NYSE: LEN), Vulcan Materials Company (NYSE: VMC), Granite Construction Inc. (NYSE: GVA) and Caterpillar Inc. (NYSE: CAT) will see a surge in their business and profits in the coming months.
Don’t Miss: Largest Construction Companies in the World
With this context and industry outlook in mind, let’s start our list of the 15 biggest construction companies in the US. We mentioned several private companies in this list and ranked them based on their annual revenues.
Top Construction Companies in USA in 2021
15. Flintco, LLC
Revenue: $364.2 Million USD, 2020 (Estimated)
Flintco, LLC based in Tulsa, Oklahoma, and provides services for commercial and institutional construction. They were ranked as the best Native American-owned company by DiversityBusiness.com in 2010. However, in 2013, Flintco was bought by Alberici Corporation. But the new owners confirmed that the company would still operate on an independent basis, with minimal interference from them. They have received various recognitions and awards. They were recognized as having the top building contractor safety program in the North American Industrial Classification System (NAICS) 236 in 2011 at the Associated Builders & Contractors (ABC) Excellence In Construction Awards. They also received the Associated General Contractors award for the same program.
Like D R Horton Inc, Lennar Corporation, Vulcan Materials Company, Granite Construction Inc. and Caterpillar Inc., Flintco is one of the most notable construction companies in the world.
14. Austin Co.
Revenue: $2.5 Billion USD, 2020
Austin Industries specializes in construction contracts and has three subsidiaries, Austin Bridge & Road, Austin Commercial, and Austin Industrial. Each of these caters to the civil, commercial, and industrial construction industries, respectively. Austin Co. saw its beginnings making bridges in the early twentieth century when the automobile’s opportunities inspired Frank and George Austin.
13. Brasfield & Gorrie, LLC
Revenue: $3.3 Billion USD, 2020 (Estimated)
Brasfield & Gorrie, LLC specializes in providing general contracting, design-build, and construction management services. The company differentiates itself from the competition by using the best industry practices such as virtual design and construction, integrated project delivery, and lean construction. However, they are best known for their preconstruction and self-perform expertise and exceptional client service. They have 12 offices and over 2,600 employees. According to Engineering News-Record, Brasfield & Gorrie are ranked 30th in the “Top 400 Contractors” list in the US for 2017. They are also ranked among the top three healthcare general contractors by Modern Healthcare.
12. Suffolk Construction Company
Revenue: $3.7 Billion USD, 2020
They are Boston-based construction contracting with offices in California, Florida, New York, and Texas. Suffolk specially caters to the aviation, commercial, education, healthcare, gaming, and government sectors. According to Forbes, Suffolk is among the 20 largest construction contractors in the country and is 148th largest privately owned company in the US. In addition, engineering News-Record named them the 23rd best contractor in a list of “Top 400 Contractors”. They employed over 2000 people and were chosen for a $1.7 billion contract to build the Wynn Resorts casino in Everett, Massachusetts. They were also selected to be the contractors for General Electric’s Boston headquarters in 2016.
11. Swinerton
Revenue: $4.6 Billion USD, 2020
Swinerton is a privately owned construction company in the US that caters to commercial office, retail, multi-family residential, hospitality, healthcare, education, energy, and the entertainment sectors. In addition, Swinerton provides its clients with additional helpful services that are necessary during the preconstruction phase. These services include budgeting, scheduling, value management, and planning. They were founded in 1988 and had their headquarters in San Francisco. Swinerton is licensed through the California Contractors License No. 92. They have offices in California, Atlanta, Charlotte, Austin, Denver, Portland, Seattle, and Honolulu. Some of their notable projects include Fairmont Hotel, Ghirardelli Square, and Weyerhaeuser Headquarters.
10. Tutor Perini Corporation (NYSE: TPC)
Revenue: $5.3 Billion USD, 2020
Tutor Perini Corporation has their headquarters in Sylmar, California, and to date have worked on many construction projects in the US and Canada. Some notable projects include Hudson Yards in New York and the California High-Speed Rail in Central California. The high-speed rail was a $1.9 billion project that included major work elements and consists of 12 roadway/railroad grade separations, 2 mainline viaducts, 1 tunnel, realignments of existing railroad tracks, utility relocations, roadway relocations, 2 trench sections, and a major river crossing over the San Joaquin River.
They specialize in civil infrastructure, bridges, highways, tunnels, airports, mass transit systems. They also cater to the gaming sector and provide all these industries with multi-use office towers, multi-unit residential towers and cater to related needs such as electrical, mechanical, plumbing, heating, air conditioning and ventilation (HVAC), fire protection systems, and concrete placement.
The company ranks 10th in our list of top construction companies in USA in 2021.
Like D R Horton Inc, Lennar Corporation, Vulcan Materials Company, Granite Construction Inc. and Caterpillar Inc., Tutor Perini is one of the most notable construction companies in the world.
9. Hensel Phelps Construction
Revenue: $5.7 Billion USD, 2020
According to Engineering News-Record, Hensel Phelps Construction Co. is consistently ranked as one of the largest construction companies and is among the top 20 general contractors and construction managers in the United States. Hensel Phelps was founded in 1937 in Greeley, Colorado. Over the years, it had grown into a company with over 4000 employees, which has completed several successful projects and received recognition for its excellent service. They have received three Marvin M. Black Excellence in Partnering Awards. They have earned millions of dollars in profit and are a successful employee-owned national contractor.
The company ranks 9th in our list of top construction companies in USA in 2021.
8. Gilbane Building Company
Revenue: $6.4 Billion USD, 2020
Gilbane Building Company has its headquarters in Rhode Island and is a subsidiary of Gilbane, Inc. In 2009 according to the Family Business Magazine, Gilbane was the 78th largest family-owned business in the US. In 2015 Engineering News-Record ranked them as the 16th biggest constriction company in the US. They have received several awards, including the Annual Construction Safety Excellence Award in 2013, the CURT Construction Industry Safety Excellence Award in 2015, and the AGC Alliant Build America Awards in 2016.
The company ranks 8th in our list of top construction companies in USA in 2021.
Like D R Horton Inc, Lennar Corporation, Vulcan Materials Company, Granite Construction Inc. and Caterpillar Inc., Gilbane Building is one of the most notable construction companies in the world.
7. DPR Construction
Revenue: $6 Billion USD, 2020 (estimated)
DPR Construction is a privately held, employee-owned company that offers services for technologically advanced and sustainable projects. They cater mainly to the advanced technology/mission critical, life sciences, healthcare, higher education, and commercial office markets. Since 1997 DPR has been among the top 50 contractors in the US, according to Engineering News-Record. DPR aims to increase productivity and reduce waste in their workplaces, making them more sustainable. The company ranks 7th in our list of top construction companies in USA in 2021.
Like D R Horton Inc, Lennar Corporation, Vulcan Materials Company, Granite Construction Inc. and Caterpillar Inc., DPR Construction is one of the most notable construction companies in the world.
6. Mcdermott International Ltd. (OTC: MCDIF)
Revenue: $6.47 Billion USD, 2019
McDermott International, Inc. is an American MNC that specializes in engineering, procurement, construction, and installation. They are currently running operations in the US, Middle East, the Caspian Sea, and the Pacific Rim. McDermott and CB&I agreed to a merger in 2017, which was finally approved in 2018. However, McDermott International faced major losses of millions of dollars after the merger as they realized their due diligence fell short. As a result, they filed for bankruptcy in January 2020 and canceled all shares of common stock. They were released from bankruptcy in June 2020. The company ranks 6th in our list of top construction companies in USA in 2021.
Like D R Horton Inc, Lennar Corporation, Vulcan Materials Company, Granite Construction Inc. and Caterpillar Inc., Mcdermott is one of the most notable construction companies in the world.
5. Skanska AB (publ) (STO: SKA-B.ST)
Revenue: $6.5 Billion USD
The Skanska AB (publ) (STO: SKA-B.ST) division of the Swedish MNC is the 3rd largest heavy contractor by revenue in the US and the 6th largest building/manufacturing contractor. Skanska AB (publ) (STO: SKA-B.ST) is one of the most financially stable construction companies in the U.S. and conducts high-quality construction and development operations. They have a wide range of clients in the transportation, power, industrial, water/wastewater, healthcare, education, sports, data centers, government, aviation, and commercial. In addition, Skanska is the MNC with one of the best safety records, so much so that in 2019, for every lost-time accident at Skanska USA, the average industry contractor had six.
4. Lendlease Group (ASX: LLC.AX)
Revenue: $10.3 Billion USD, 2020
The US division of Lendlease (ASX: LLC) is based in New York City. It is an MNC that was founded in 1968. Lendlease is currently working on redeveloping urban areas in Chicago; the project is called Southbank. Other notable projects by Lendlease include 432 Park Avenue residential building that stands at 1,396 feet tall. The building is located in one of New York city’s most prestigious and expensive neighborhoods.
3. AECOM (NYSE: ACM)
Revenue: $13.2 Billion USD, 2020
AECOM is an American MNC with over 87,000 employees, ranked 157th on the 2019 Fortune 500 list of companies.
AECOM has a long list of services through its various subsidiaries. They include Archaeology, Architecture & Design, Asset Management, Construction, Cost Management, Decommissioning & Closure, Economics, Engineering, Environmental Services, International Development, IT & Cyber Security, Operations & Maintenance, Planning & Consulting, Program Management/Construction Management, Risk Management & Resilience, and Technical Services.
AECOM has sold two of their divisions, Management Services, and Power construction, to private equity firms American Securities LLC and CriticalPoint Capital, respectively. Their latest sale was to Shimmick Construction of their civil construction business which was made final on January 5, 2021.
2. Fluor Corporation (NYSE: FLR)
Revenue: $15.7 Billion USD
Fluor Corp. has its headquarters in Texas and is an American MNC that provides engineering and construction services. Fluor has several subsidiaries through which it provides its services. These subsidiaries range from oil, gas, and power to infrastructure and government. Fluor ranks 164th in the Fortune 500 rankings. The organization is mainly involved in designing and building power plants, petrochemical factories, mining facilities, roads and bridges, government buildings, and manufacturing facilities. Their notable projects include the Aladdin Hotel & Casino in Las Vegas, built for $1.4 billion. They were also responsible for the Tappan Zee Bridge that goes over the Hudson River, which was built for $3.14 billion. Fluor has taken part in charity work and provided disaster recovery services in Louisiana after Hurricane Katrina.
1. Bechtel Corporation
Revenue: $17.6 Billion USD, 2020
The largest privately-owned construction company in the US, Bechtel is an engineering, procurement, construction, and project management company with headquarters in Virginia. Their infrastructure sector manages transport, power lines, and grids. They have built thousands of miles of roads, bridges, and rails. These also include subways and airports. They have also built 100s of power plants and hydroelectric facilities. The number of cities built globally by them totals 20. From the 1950s onwards, they have also handled nuclear plant maintenance and cleanups for the US government. Bechtel had the eighth-highest revenue on Forbes’ list of America’s Largest Private Companies in 2017 and was the seventh most important company on Fortune’s list of the 25 Most Important Private Companies. In addition, engineering News-Record has called them the top US contractor (by revenue) for 20 years in a row.
You can also take a peek at 10 Best Cheap Dividend Stocks to Buy According to Mario Gabelli and 10 Best High-Yield Dividend Stocks to Buy According to Stanley Druckenmiller.
Follow Insider Monkey on Twitter
Suggested articles:
- 30 Best Movies on Amazon Prime
- 10 Best Dividend Stocks for Roth IRA
- 15 Fastest-Growing Video Game Companies
This article is originally published at Insider Monkey.
