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, difficulty getting permits, delays and cancellations mean increased costs for companies. Problems in the supply chain also mean higher procurement costs for material and equipment.
Top 5 Construction Companies in USA in 2021
- 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.
2. Fluor Corporation (NYSE: FLR): Revenue: $15.7 Billion USD
Fluor Corp. (NYSE: FLR) has its headquarters in Texas and is an American MNC that provides engineering and construction services. Fluor (NYSE: FLR) has several subsidiaries through which it provides its services. 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.
3. AECOM (NYSE: ACM): Revenue: $13.2 Billion USD, 2020
AECOM (NYSE: ACM) is an American MNC with over 87,000 employees, ranked 157th on the 2019 Fortune 500 list of companies. AECOM (NYSE: ACM) 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.
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 (ASX: LLC) is currently working on redeveloping urban areas in Chicago; the project is called Southbank. Other notable projects by Lendlease (ASX: LLC) 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.
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.