In their first round of earnings reports for the year, four of the largest publicly traded contractors operating in the U.S. — Granite Construction, Fluor, Skanska and Tutor Perini — reported varying degrees of both gains and losses in their revenues and incomes.
Fluor
Revenue for Fluor’s Urban Solutions division, which encompasses its engineering, procurement and construction services, rose 13% in the first quarter to $2.4 billion, while this segment’s profit fell 91.4% year-over-year from $70 million to $6 million.
New awards for the Urban Solutions segment fell 53.7% to $2.1 billion in the first quarter, and new awards among all Fluor’s business segments were down
Comprehensive revenue among all Fluor’s business segments was down 8% to $3.7 billion, and total segment gross profit fell 94% to $8 million. However, net earnings for the quarter came in at $165 million compared to a net loss of $232 million in last year’s first quarter.
Fluor again did not release a 2026 revenue or profit forecast, but the company did adjust its earnings before interest, taxes, depreciation and amortization forecast from $525 million – $585 million to $525 – $560 million.
Granite Construction
In its first quarter of 2026, Granite Construction reported revenue rose 30.3% year-over-year to $912 million, and gross profit was up 31% in the same period to $110 million. Granite Construction reported a net income loss of $42 million in the first quarter, up from a net loss of $34 million in the first quarter of 2025.
For its construction segment, Granite saw a 24.6% increase in first-quarter revenue to $912 million, while gross income in the segment was up 19.6% to $102 million.
Granite’s materials business also generated increases in revenue and gross profit. In the first quarter, revenue rose 72.4 % to $146 million, while gross profit came in at $7.7 million compared to a gross loss of $1.6 million one year ago.
For its 2026 fiscal year, Granite Construction raised its full year revenue from $4.9 billion – $5.1 billion to $5.2 billion – $5.4 billion.
Skanska
Construction revenue in Skanska’s first quarter was down 12.3% year-over-year to $3.9 billion, while operating income in Skanska’s construction segment fell to $117 million, down 6.4%.
Construction order bookings came in at $4 billion in the first quarter, up 5% year-over-year when adjusted for currency effects.
Total revenue in Skanska’s first quarter was down 10.3% year-over-year to $4 billion, while total operating income was up 5% to $121 million.
For its 2026 fiscal year, Skanska expects the U.S. civil infrastructure market to remain strong “with a well-funded project pipeline.”
Tutor Perini
In its first quarter 2026, Tutor Perini reported $1.4 billion in total revenue, an 11.5% year-over-year increase.
First-quarter revenue in Tutor Perini’s civil segment rose 16% to $745 million, while Specialty Contractors revenue was up 24% to $219 million. In the Building segment, first revenue rose 2% to $498 million.
Construction operations income for the first quarter came in at $59.2 million, down 9% year-over-year from $65.3 million in last year’s first quarter. Net income attributable to Tutor Perini for the first quarter was down 8% to $26 million.
Looking ahead at the remainder of 2026, Tutor Perini said it expects “significantly higher revenue and earnings in both 2026 and 2027 as various newer large projects advance to the construction phase.”
All currency conversions as of June 15, 2026.
