The construction industry has seen a slew of new projects being launched, and billions of dollars in investment. This has been intensified in recent years by legislative reforms like the IIJA, the CHIPS and the SCIENCE ACT. 

However, with economic inflation rising, the Federal Reserve has increased the interest rate 11 times to mitigate the financial risks. 

Labor shortages and supply chain issues are now plaguing the American construction industry. This leads to project delays, high project costs, and even outright cancellation of some construction projects.

Engineers News-Record (ENR) has recently released a list of the top 400 contractors in the country for 2024, based on the revenue generated over the last financial year.

Here is a look at the top firms:

While New York-based Turner Co. retained the top position for the second consecutive year, the first runner-up of 2023, Bechtel, went down to third place. Turner generated a revenue of $ 17.1 billion, while Bechtel made $12.9 billion.

Contractor News had last year reported that Turner Co., Bechtel, and Whiting-Turner made the top of the list of government construction firms.

Omaha-based Kiewit Corp. went up two places to finish second with a net revenue generation of $13.8 billion. The $1 billion Baltimore Amtrak tunnel contract helped them increase their income significantly.

There are two new entrants to the top 10 construction position: McDermott International at 9th place with revenue of $7.7 billion, and PCL Construction Enterprises, who have come up three places, to finish 10th in FY-23 with an income of $7.3 billion.

Skanska USA and Clark Group had a bad year and went down a few places from the previous year’s ranking.