Dive Brief:
- New York City-based Turner Construction is the No. 1 commercial contractor in the country by revenue for the third year in a row, coming in well above Reston, Virginia-based Bechtel, according to Engineering News-Record’s 2023 Top 400 Commercial Contractors list released last week.
- Turner earned $16.3 billion in 2022 revenue, up from $14.3 billion last year, while Bechtel earned around $12 billion, down from last year’s $12.9 billion.
- Behind Turner and Bechtel, a newcomer to the Top 400 list nabbed the No. 3 spot: Coral Gables, Florida-based contractor MasTec. Last year, the company was No. 3 on ENR’s 2022 list of the top 600 specialty contractors, specializing in electrical and utility work. MasTec filed as a general contractor this year after it acquired Indianapolis-based IEA, which was No. 42 on the 2022 Top 400 general contractors list. MasTec earned $11.6 billion last year, up from $9.6 billion in 2021.
Dive Insight:
Rounding out the top five were Omaha, Nebraska-based Kiewit and New York City-based STO Building Group, at No. 4 and No. 5 respectively. Each dropped a rank from the previous year as MasTec’s entrance shuffled the list.
Of last year’s top 10, nine firms remained. Irving, Texas-based Fluor dropped three spots, from No. 5 to No. 8, as Baltimore-based Whiting-Turner and Redwood City, California-based DPR moved into the No. 6 and No. 7 spots, respectively. The only absence in the top 10 was Dallas-based AECOM, which fell to the No. 14 slot from No. 10 last year.
MasTec cited its growing portfolio and services, such as the IEA acquisition, as the reason for its decision to apply to the Top 400 list instead of the Top 600 Specialty Contractors.
“We are very proud of ranking so highly amongst the leading and well-known construction companies in the US. Our dedicated employees and expertise in delivering successful projects brings value to our clients, and we look forward to continuing this trajectory for many years to come,” said Ben Gilbert, senior vice president of business development at MasTec, in an email to Construction Dive.
See the chart below for the top 10 commercial contractors on the list:
Rank 2023 | Rank 2022 | Contractor | Headquarters | Revenue (in millions) |
---|---|---|---|---|
1 | 1 | The Turner Corp. | New York City | 16,256.3 |
2 | 2 | Bechtel | Reston, Virginia | 11,986 |
3 | N/A | MasTec Inc. | Coral Gables, Florida | 11,605 |
4 | 3 | Kiewit Corp. | Omaha, Nebraska | 11,242.7 |
5 | 4 | STO Building Group | New York City | 10,390 |
6 | 7 | DPR Construction | Redwood City, California | 9,234.5 |
7 | 6 | The Whiting-Turner Contracting Co. | Baltimore | 8,599.9 |
8 | 5 | Fluor | Irving, Texas | 7,920.3 |
9 | 9 | Clark Group | McLean, Virginia | 7,219.3 |
10 | 8 | Skanska USA | New York City | 6,873.6 |
SOURCE: Engineering News-Record