ENR has announced their Top 600 Contractors ranking for 2022, with firms reporting that their challenges are largely unchanged from the previous two years. “Increasing costs, rising risks and scarce skilled hands to keep their operations moving at peak production are top of mind for most, but firms are learning to work smarter with the resources they have to manage expectations and complete projects on time.”
After a slower 2020, revenue for the Top 600 firms increased by nearly 13% to $164.5 billion from $145.9 billion in 2021. Just over 94% of reporting firms also said they made a profit last year and 66% reported increased revenue. “Over the past 10 years, overall revenue for Top 600 firms has more than doubled, reflecting a busy and expanding construction sector that has been struggling to meet labor demand—even before the pandemic.”
“With the Infrastructure Investment and Jobs Act (IIJA) poised to bring an influx of federally funded projects into the industry, specialty contractors expect a continuing strain on industry resources such as labor and equipment, leading many firms to reconfigure their operations to take advantage of upcoming opportunities.” You can read more insights from this year’s top firms and see the full Top 600 list below.
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