Corporate News
Executive teams in the construction industry continue to undergo changes. As of July 2026, several large contractors have announced executive promotions and new appointments, while some senior executives have chosen to retire. This article outlines these significant personnel adjustments.
Granite Construction revealed on its second-quarter earnings call Thursday that its data center customer backlog more than tripled year over year, jumping from $65 million to $223 million. Although the company aims to increase data center revenue to 10% of its total, it remains committed to a balanced portfolio across public and private infrastructure and materials supply. Facing the upcoming expiration of the 2021 Infrastructure Investment and Jobs Act and potential cuts to highway funding, company executives said they prefer a funding structure centered on formulaic allocations and bridge investments, and continue to adopt strategies such as short-cycle work and 100% design pricing to manage risk. The company reported second-quarter revenue of $1.46 billion, up 29% year over year, but recorded a net loss of $278 million due to a $360 million non-operating charge related to debt restructuring.
Gilbane Inc., parent of Gilbane Building and Gilbane Development, has named Robert Dillard as CFO, effective with a July 22 announcement. He succeeds Robert Murray, who is retiring. Dillard previously served as CFO at KB Home and Sonoco, and held executive roles at Domtar, Stanley Black & Decker, and UBS. The leadership change comes as the firm reports strong revenue growth.
The latest construction economic report shows that construction activity in April 2026 may begin to stabilize beyond data center construction: planning activity has improved, total starts have surged, backlog orders have risen to a 10-month high, and job vacancies have reached their highest level in 2026. However, growth momentum is still mainly driven by data centers, public infrastructure, and AI-related projects, with large contractors holding most of the backlog, while private construction sectors such as manufacturing remain weak and material costs are rising again.
Turner Construction's first-quarter 2026 revenue was $7.7 billion, up 25% year-over-year; backlog stood at $48.9 billion, up 34% year-over-year; and new awards reached $12.1 billion, up 48% year-over-year. The company has won 10 projects each expected to exceed $1 billion in value, surpassing its full-year 2025 level. Data center, commercial, and healthcare projects were the primary growth drivers.
Engineering News-Record's 2026 Top 400 US Commercial Contractors list was released on Wednesday. Turner Construction of New York topped the list for the sixth consecutive year with $28.3 billion in revenue; Bechtel of Reston, Virginia, continued to rank second; and STO Building Group of New York jumped from sixth last year to third, pushing Kiewit of Omaha, Nebraska, down to fourth. The list shows that the AI data center construction boom has driven significant revenue growth among top firms, but the industry also faces multiple pressures including tariffs, the Iran situation, and skilled labor shortages.
To celebrate the 250th anniversary of the founding of the United States, Forbes has released its first-ever list of the largest family-owned businesses in the U.S. Among the 100 companies on the list, more than one-fifth are construction or construction-related businesses, covering general contractors, building material suppliers, utility contractors, and more. Companies such as Bechtel, HITT Contracting, Quikrete, and 84 Lumber are all included.
San Antonio-based infrastructure builder Zachry Construction has started a wastewater treatment facility upgrade project in Dallas valued at approximately $108 million, owned by the Trinity River Authority, with expected completion in the fourth quarter of 2029.
Fluor released its first-quarter 2026 financial results, with new contract awards down 54% year-over-year to $2.69 billion and revenue down 8% to $3.66 billion. CEO Jim Breuer said the decline in orders is a timing issue and revealed that the potential project pipeline exceeds $60 billion, maintaining confidence in full-year growth.
Tutor Perini revealed during its earnings call that it is evaluating expansion opportunities in the data center sector but will remain cautious. The company expects strong performance in 2026 and 2027 and disclosed bidding progress on several large projects.