Swinerton Revenue Reaches 4-Year High

The company has grown massively over recent decades.

Source : Swinerton

July 2, 2024

Author : Patty Allen

Swinerton, established in 1888, is an American construction company that has over 21 regional offices and has been part of many integral construction projects. 

The California-based construction company has reached its highest revenue in four years, reaching $4.2 billion in 2023, with projects around the country.

In 2023, Swinerton completed 483 projects, which led to a 5% increase from previous highs of $4 billion that were recorded in FY 2020 and 2022. The 2023 Sustainability Report published by the company shows that Swinerton's backlog has reached a record-high $5.2 billion, an 11% increase from $4.7 billion in 2022. 

Swinerton was ranked 35th on ENR's list of top construction companies in 2024. It has attributed its growth and success to the adoption of cutting-edge technology in construction, and the recent growth of its growing subsidiaries like Timberlab, the mass-timber manufacturing company. 

This report came after a major reshuffle at the top level, with long-term CEO Eric Foster retiring. He was succeeded by David Callis.

The new CEO explained in the report, “Swinerton’s commitment to implementing and promoting sustainable practices considers not only the health and success of the natural environment—but also our company, our work, our local communities, and our future opportunities. In 2023, we adopted a new Environmental Sustainability Policy, which provides a roadmap to improve our sustainability practices and reduce our overall footprint.”

Swinerton is set on its March to 2030, a path that is built on strategic and sustainable overlays, which will set the company up for success for the next 135 years. As part of its green initiative, Swinerton was recognized among the top 8 proponents in the ENR Top Green Building Contractors. 

The company has also been mindful of not just its own balance sheet but also giving back to the community. They have spent 23% of their total expenses by working with diverse suppliers and donated $1.4 million to non-profit organizations. 

In the last financial year, Swinerton has continued on its path of adopting new technological innovation, which has made its operations safer, transparent, and accessible. 

Some of their key technological advancement have been:

  • Discovered innovative shotcrete wall-forming technologies that improve safety while using less formwork material.
  • Implemented real-time concrete scanning to decrease faults and destructive fixes.
  • Implemented new drone operations capabilities to ensure safer and more accurate inspections and monitoring.
  • Identified new inventory and shipping tracking solutions to decrease the need for additional travel, waste, and costly delays.
  • Created ethical policies for generative AI technologies.

As part of its sustainability efforts, Swinerton has focused on two key areas: environmental and social impact. Under the former category, the company has worked on the reduction of carbon footprint, waste management, and green building services. Under the social initiatives, the company has worked on DEI initiatives, philanthropy, and community outreach.

Swinerton has also received several accolades including

  1. Best Landscape, Urban Development Category Awarded by ENR Presidio Tunnel Tops, San Francisco, CA
  2. Sustainable Innovation Award, Equity & Environmental Justice Category Awarded by US Green Building Council Weingart 11010 Santa Monica Boulevard Affordable Housing Development, Los Angeles, CA
  3. Project Excellence Award, Small Project Category Awarded by Coasts, Oceans, Ports, and Rivers Institute Fire Station 35, San Francisco, CA

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Category : Entrepreneurialism Market Watch Public-Private Partnership

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