During the period, MasTec remained the best performing company, with its sales up 53.37% to US$1.89 billion. During the comparable period the year earlier, sales were only US$1.23 billion. Another heavy construction conglomerate, Granite, reported a 26.19% increase from US$604.58 million to US$762.91 million. Jacobs, once again, reported less than favorable sales, amid a challenging economic environment. The company’s revenue was down 6.65% from US$2.69 billion to US$2.51 billion.
It is important to note that most of these companies’ projects take years to complete, so they were — to some extent — immune from sudden economic shocks. In addition, their clients are often large and well capitalized. As such, utilities and energy firms and government entities tend to have more financial flexibility during tough times. A key barometer of the future success for these companies is the dollar value of backlog work that they get. This is an excellent indicator of what major businesses and government are spending and feeling about future expansions and renovations.