Published on July 30th, 2014 | by UC&D Magazine0
2014 Top Utah General Contractor Rankings
Exactly 20 Utah-based general contractors (including general building, heavy-highway, and municipal-utility GC’s) participated in UC&D’s second-annual survey of firms based on revenues earned in 2013. This ranking includes revenues earned by company offices in Utah, and also nationwide (including offices outside the Beehive State).
For the second straight year, Salt Lake- based Okland Construction tops the list, with revenues of $592.6 million earned by its Utah office, and $801.3 overall. Rounding out the Top 5 are: Layton Construction of Sandy ($438.9 in Utah; $601.6 overall); Big-D Construction of Salt Lake ($409.1 in Utah; $640.8 overall); Jacobsen Construction of Salt Lake ($364 million); R&O Construction of Ogden ($206 in Utah; $214.8 overall).
Staker Parson Cos. of Ogden was the top earning heavy-highway firm at $196 million, followed by Draper-based Ralph L. Wadsworth Construction at $161.4 million.
Of the 20 firms who submitted surveys, 15 are general builders, although a couple of those specialize in distinct markets, including Bodell Construction of Salt Lake, which had 100% of its revenues ($76 million) come from the industrial market, and Lindon-based Magleby Construction, which reported 90% of its revenues from the high-end custom home market.
Other non-general building contractors who participated in the survey are Whitaker Construction of Brigham City ($53 million), Hadco Construction of Lehi ($50.6 million), and Alder Construction of Salt Lake ($25.6 million).
Among the 15 general building GC’s on this list, most saw revenues stay within 20% of the previous year’s figure, both up and down. Okland was remarkably consistent from 2012 to 2013, only down $1 million on Utah office revenues nearing $600 million. Jacobsen also had similar numbers compared to 2012, an increase from $351 to $364 million. R&O reported a modest drop from $215 to $206 million.
Big-D saw revenues from Utah-based offices fall more than 20% ($518 to $409 million), although the firm did earn $231 million from its four out-of-state offices for a total of $640 million, second-best behind Okland. Layton’s Utah revenues dipped 11%, but overall revenues combined with its six other offices was down less than 3% ($618 to $601 million).
Several firms reported significant gains of more than 20% from 2012 to 2013. Wadman Corporation of Ogden climbed from $90 million to $110 million (+22%), Ascent Construction of Centerville went from $68 million to $86 million (+26%), and Ogden-based Kier Construction Corp. saw an increase from $57 to $72 million (+26%).
Zwick Construction of Midvale saw the biggest jump of any general contractor, with revenues of more than $61 million(up from $35.5 million), a hefty 71% spike. Draper-based Pentalon Construction also saw a healthy increase, rising from $26 million to $41 million (+57%).
The only Southern Utah firm to participate, St. George-based Watts Construction, saw revenues stay relatively even, down 4% from $6.9 to $6.6 million.
Firms Find a Niche in Certain Markets
While Bodell and Magleby are unique in that they earn all or most of their revenues through a single market, there are others who specialize in certain types of projects/markets, be it K-12, Healthcare, Multi-Family or Municipal.
Among the top five firms, R&O had almost half its revenues come from the Commercial/Retail market (46%), followed by Healthcare (23%) and Civic/Institutional (13%). Layton’s top market remains Healthcare (39%), with Industrial second (12%). Big-D and Jacobsen showed good balance with no single market accounting for more than one-fourth of its revenues, and at least three markets between 15%- 26%.
Hughes General Contractors remains a force in K-12, with 70% of its revenues from that market. Sports and Recreation (8%) and Commercial Retail (8%) were Hughes’ other two best markets.
Three firms showed prowess in Multi- Family, with a sizeable chunk of revenues coming from that red-hot market. Kier had 65% of its revenues from Multi-Family, while Pentalon was at 75%, and Zwick 39%.
UC&D encourages all Utah-based firms to participate in its annual rankings. Please contact us if you would like to participate in next year’s Top Utah General Contractor rankings