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The Southeast's Top Contractors
Region's Top Contractors Report
Nearly $19.6 Billion in 2003 Revenue
by Scott Judy
Southeast Construction
presents its fourth annual Top Contractors ranking. But this
is more than just an update of last year's list. The 2004
Top Contractors ranking has grown deeper by 50 percent, from
100 firms to this year's 150. As in past years, the list remains
industrywide, meaning it includes building contractors, heavy/highway
firms, and all general contracting firms in between.
It also represents a new and expanded look at the view from
the top. With the magazine's expansion from exclusively Florida
to the four-state Southeast region that now also includes
Georgia, North Carolina and South Carolina, the list is broader
and, we believe, more defining of the Southeast construction
industry.
To obtain the revenue information listed here, we sent our
survey form to both last year's respondents as well as hundreds
of other firms included in our database, the McGraw-Hill Construction
Network and other sources. A special thank you goes to the
staff at Georgia Branch of Associated General Contractors
of America, who graciously sent copies of the survey to its
members.
The information provided here is based upon each firm's returned
survey form.
Survey Findings
Our main Top Contractors ranking is based upon each firm's
2003 revenue generated from projects within the four-state
region only. Within the main ranking we also include more
extensive information about each of the ranked firms, including
the company's address and phone number, website address, year
established, number of regional employees, the top officer
for the area, as well as a breakdown of the contractor's focus
of work.
Taking the top spot in this year's Top Contractors ranking
was Skanska USA Building, with approximately $915.2 million
reported from its Southeast operations for 2003. Relatively
close behind was APAC, with its $894 million total.
Here are some other findings from this year's ranking:
· As the list's scope of coverage grew, so did the
cumulative revenue total. Last year, measuring just Florida
revenue, the Top 100 Contractors reported approximately $10.3
billion in 2002 revenue. The total revenue reported on this
year's four-state list nearly doubled that amount, escalating
to nearly $19.6 billion.
·
· As this is the fourth year for soliciting Florida-based
contractors - versus the first year for the contractors working
in the other states - it's logical that the numbers from the
Sunshine State would be the greatest. In all, this year's
list represents roughly $11.5 billion of Florida revenue.
That cumulative total is up versus last year, when it totaled
roughly $10.3 billion. However, this year's ranking includes
130 firms reporting Florida revenue, versus the 100 of last
year's.
·
· The cumulative total of revenue reported from Georgia,
North Carolina and South Carolina tallied nearly $8.1 billion.
On a state-by-state basis, the number and value of those responses
was as follows: Georgia - 61 firms reported revenue from this
state, for a cumulative total of slightly more than $3.8 billion;
North Carolina - 49 firms responded for a roughly $3 billion
total; and South Carolina - 48 firms reported a cumulative
$1.25 billion.
·
· The average revenue number reported on the ranking
equaled roughly $130.4 million, up by about $27 million from
last year when that figure was approximately $103 million.
The firm coming closest to that number was Winter Park Construction
Co., which ranked 46th with $133 million in regional revenue.
The median firms, ranked 75th and 76th, were New South Construction
Co. with $87.8 million in revenue, and Blythe Development
Co., with $86.7 million reported.
·
· The escalation in the average revenue number was
likely due to the fact that the figures reported by the national
firms working in all four states grew so considerably compared
to last year. The revenue reported by this year's top firm,
for example, Skanska USA Building, more than doubled from
last year's $393 million for its Florida work to this year's
incredible $915.2 million. Perhaps more telling, this year's
top 10 reported roughly $6.4 billion in 2003 revenue - approximately
a third of the revenue reported by all 150. The top 20's cumulative
total was nearly $9.1 billion, almost a half of the $19.6
billion reported in all.
Noteworthy Single-Family
As impressive as Skanska's revenue number was, there's another
firm listed on our Top Contractors ranking that had an even
larger figure to report. Centex Construction Group had roughly
$2.26 billion worth of construction activity in the four-state
region in 2003. Most of that amount - more than $1.7 billion
- came from its single-family home division. Of course, Centex
is one of the few - if only - major contractors that works
in both the commercial and single-family sectors.
Because Southeast Construction does not generally cover the
area's single-family market, our ranking is of commercial
and heavy/highway contractors only. Therefore we felt it was
most appropriate to only include Centex's revenue from its
commercial sector.
Residential construction is certainly nothing to ignore,
we understand.
The Southeast's residential construction market dwarfs the
other commercial and highway sectors. Last year, for example,
McGraw-Hill Construction pegged the four-state region's residential
market - including single- and multi-family - at roughly $60.7
billion for 2003, a number that appears to only be climbing.
By contrast, McGraw-Hill Construction's estimate of both the
nonresidential and nonbuilding (or highway/civil) markets
for the four-state region totals approximately $35.75 billion.
Of that figure, nonresidential was the largest market, with
roughly $21.75 billion in four-state activity last year, versus
the $14 billion reported for the nonbuilding sector.
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