While many reigning companies held their spots, a couple of other firms moved into the top 10 list of the country’s largest commercial contractors by revenue this year, according to Engineering News-Record.
The 2024 top 10 remain largely the same — New York City-based builder Turner held on to its top spot with $17.1 billion in 2023 revenue, up from the prior year’s $16.3 billion, a 4.9% increase.
However, Reston, Virginia-based Bechtel was dethroned from its second-place spot by Omaha, Nebraska, building firm Kiewit, which pulled $13.8 billion in 2023 revenue, up from 2022’s $11.2 billion, a gain of 23.2%. Bechtel slid to the third-place spot with $12.9 billion in revenue.
There are two newcomers on this year’s top 10, one of which includes Houston-based McDermott International, which wasn’t part of the 2023 list. The company has had a tumultuous past few years, which included a Chapter 11 bankruptcy filing that the firm entered and exited in 2020, where it was also delisted from the New York Stock Exchange.
PCL Construction, which has had a recent run of stadium projects, is the other newcomer, in the 10th slot.
Here’s more about 2024’s top 10 commercial contractors:
1. Turner Construction Co.
Revenue: $17.1 billion
Headquarters: New York City
Ownership: Turner is a subsidiary of the German company Hochtief, which is publicly traded on all German stock exchanges.
Last year’s ranking: 1
High-profile projects: $2.1 billion Tennessee Titans stadium in Nashville; $1.7 billion Buffalo Bills stadium in Orchard Park, New York.
Good to know: Turner completes $15 billion of construction on 1,500 projects each year, per its website.
2. Kiewit Corp.
Revenue: $13.8 billion
Headquarters: Omaha, Nebraska
Ownership: Private
Last year’s ranking: 3
High-profile project: $1 billion Baltimore Amtrak tunnel contract.
Good to know: Kiewit started as a small masonry company in 1884, according to its website.
3. Bechtel
Revenue: $12.9 billion
Headquarters: Reston, Virginia
Ownership: Private
Last year’s ranking: 2
High-profile projects: $30 billion nuclear power plant in Georgia; $1.5 billion NASA launch site in Florida.
Good to know: Bechtel has completed more than 25,000 projects in 160 countries on all seven continents, including Antarctica, per its website.
4. MasTec Inc.
Revenue: $12 billion
Headquarters: Coral Gables, Florida
Ownership: Public (NYSE: MTZ)
High-profile project: $7.85 billion Mountain Valley Pipeline project.
Good to know: The chairman of MasTec, Jorge Mas, is also the managing owner of Inter Miami CF, the Major League Soccer team representing Miami, according to the company.
5. The Whiting-Turner Contracting Co.
Revenue: $11.3 billion
Headquarters: Baltimore
Ownership: Private
High-profile project: $600 million Oregon data center.
Good to know: The company’s first project was utility and road work at Walter Reed Hospital in Washington, D.C., in 1910.
6. STO Building Group
Revenue: $11.1 billion
Headquarters: New York City
Ownership: Private (partially employee-owned)
High-profile project: $173 million University of Pennsylvania Vagelos Laboratory (LF Driscoll).
Good to know: STO is made up of 14 companies that exist under one larger structure.
7. DPR Construction
Revenue: $9.4 billion
Headquarters: Redwood City, California
Ownership: Private
High-profile projects: $1 billion Arizona data center; $240 million-plus Virginia data center.
Good to know: DPR was founded in 1990, and took less than a decade to reach $1 billion in revenue.
8. Fluor
Revenue: $9.4 billion
Headquarters: Irving, Texas
Ownership: Public (NYSE: FLR)
High-profile projects: $5.7 billion Gordie Howe Bridge in Detroit; $2.3 billion Green Line Extension in Boston.
Good to know: In 2023, Fluor was ranked No. 303 among Fortune 500 companies, per the firm.
9. McDermott International
Revenue: $7.7 billion
Headquarters: Houston
Ownership: Private, owned by equity holders.
High-profile project: BorWin6 project in Dubai.
Good to know: In 1923, the company created the first floating-roof tank for the oil industry, per its website.
10. PCL Construction Enterprises
Revenue: $7.3 billion
U.S. headquarters: Denver
Ownership: Employee owned
High-profile projects: $350 million Scotiabank Arena and $300 million Rogers Centre renovations in Toronto.
Good to know: Originally founded in Stoughton, Saskatchewan, Canada, in 1906, PCL (then known as Poole Construction) entered the U.S. market for the first time in 1975 via an office project in Colorado Springs, Colorado.
