Engineering News-Record has released its 2023 rankings, listing the top commercial contractors in the United States. The companies were ranked by construction revenue in 2022.

New York dominates the top 10 ranking with three firms, including the top spot, becoming the only state to hold more than one contractor in the top 10. In their reflection of the rankings, ENR pointed to uncertainty among contractors over how the construction industry should prefer for economic slowdowns.

“As economic uncertainty swirls around the Capitol Hill debt limit negotiations, some Top 400 contractors are worried about reaching the limit of their ability to keep projects profitable,” ENR commented on the report. “Through years of pandemic-induced cost volatility and workforce shortages, firms have kept their revenue and backlogs strong by strategies that include value engineering. But can they also value engineer economic confidence?”

The top 10 contractors for 2023 are as follows:

1. The Turner Corp., New York, NY
2. Bechtel, Reston, VA
3. MasTec Inc., Coral Gables, FL
4. Kiewit Corp., Omaha, NE
5. STO Building Group, New York, NY
6. DPR Construction, Redwood City, CA
7. The Whiting-Turner Contracting Co., Baltimore, MD
8. Fluor, Irving, TX
9. Clark Group, McLean, VA
10. Skanska USA, New York, NY

News of the ranking comes one week after the AIA released their Architecture Billings Index for April, which indicated a slight decrease in billings despite upticks in future project inquiries. Meanwhile, a recent report by Dodge Construction Network showed that construction starts in April fell by 4% due to a steep decline in manufacturing.