East Coast Revenue Remains Strong, but Firms See Risks Ahead

ENR East Top Contractors East Coast Revenue Remains Strong, but Firms See Risks Ahead Related Link: ENR East 2026 Top Contractors Despite positive revenue numbers produced by firms in this year’s ENR East Top Contractors ranking, executives have a more cautious vibe than what might be expected after a productive year. “The commercial office and life sciences sectors continue to have flu-like symptoms as companies adjust to hybrid workstyles, reduced office needs and overall excess unleased space,” says Chris Doepper, chief operating officer and executive vice president at Dimeo Construction, ranked No. 32 for the second straight year. The Johnston, R.I.-based firm reported $646.82 million in 2025 revenue—up 11.39% from $573.17 million in the prior year. “If or when we get clarity on interest rates and the Iran conflict, and both prove positive, we anticipate a stronger construction market in the longer term,” he says. Nevertheless, the 89 firms that responded to the survey reported a combined $93.08 billion in 2025 revenue—representing a 7.77% increase from last year’s $86.37 billion—for work performed in Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, Virginia and West Virginia. This year’s Top 10 firms combined to log an 11.29% revenue increase to $51.64 billion from the $46.4 billion reported last year. HITT Contracting, in the top three last year with $5.17 billion, leaped to No. 1 with a whopping 46.62% increase in revenue to $7.58 billion. Turner Construction remained second with $6.73 billion, up 17.04% from $5.75 billion. Last year’s top firm, Whiting-Turner Contracting Co., fell to third with $6.24 billion in revenue, although total revenue was still up 4.35% from last year’s $5.98 billion. As always, the following pages include contractors ranked by state revenue and by market sectors as well as rankings for the MidAtlantic, New York-New Jersey and New England subregions that make up ENR East. The top 15 MidAtlantic firms reported a 21.89% revenue jump to $33.36 billion on this year’s survey, up from $27.23 billion last year. The top 15 total in New York-New Jersey was $25.95 billion, representing a more than 12% increase from the prior year. The $13.44 billion posted for New England’s top 15 firms was down slightly from last year’s $13.85 billion. No. 34-ranked Rycon Construction is the general contractor for Pennsylvania Western University’s science building on the school’s campus in California, Pa. Photo courtesy Rycon Construction Shifting Ground Cost pressures, interest-rate uncertainty, geopolitical concerns and clients’ need for greater predictability all help create an environment that several executives describe as uneven, in which owners are disciplined and increasingly selective. Camilo Garcia, DPR Construction Northeast co-regional leader and leadership team member based in the Washington, D.C. area, expects “the Northeast construction market to remain active but uneven across the core markets we service during the next one to two years.” The contractor was ranked No. 12 with $2.42 billion in revenue. Last year, DPR was the No. 11-ranked firm with $2.14 billion. “The principal constraint may be delivery capacity rather than lack of opportunity,” Garcia adds. “If or when we get clarity on interest rates and the Iran conflict, and both prove positive, we anticipate a stronger construction market in the longer term.” —Chris Doepper, Chief Operating Officer and Executive Vice President, Dimeo Construction There is also a clear shift in how clients and builders are approaching work. Rather than canceling plans outright, owners appear to be reprioritizing projects and looking for partners who can help manage risk, control costs and improve certainty earlier in the process, the executives say. This suggests that success will depend more on execution, delivery capacity, problem-solving and the ability to keep projects viable in a more complicated environment. “Success over the next few years won’t be driven by demand alone, it will be defined by how effectively projects are delivered,” says Ryan Hutchins, Boston-based regional president at No. 10-ranked Gilbane Building Co. The firm’s $3.61 billion in revenue in 2025 is up from $3.56 billion last year, when the firm was ranked No. 7. Kevin Montez, president and chief operating officer at Pittsburgh-based Rycon Construction, helped his firm to record $597.08 million in revenue, up from the $537.41 million it reported last year. He says the market will remain “active” while being more “disciplined.” He adds, “Overall, the conversation is shifting. It is less about just building and more about getting involved early, helping clients navigate costs and risk, and finding practical ways to keep projects moving.” New York Hospitality While several executives expressed cautious optimism for the next 12 to 24 months and stronger confidence longer term if macroeconomic uncertainty eases, they also say that, overall, the market still has momentum, even if it’s more selective, risk-aware and execution-focused. The executives did not only share cautionary tales. Sectors such as New York City’s hospitality market have “come back with real force,” says David Margolius, executive vice president for Shawmut Design and Construction, Boston, which ranks No. 14 with $1.66 billion in revenue, up from last year’s $1.44 billion. “I will always bet on New York, and the growth signals are strong for most sectors over the next five years,” he contends. Kerim Evin of Skanska USA Building, a regional executive officer based in Boston, emphasized a heightened focus on certainty. Skanska was ranked No. 9 this year with $3.71 billion in 2025 revenue. Last year, the firm posted $3.24 billion. “We remain cautiously optimistic about construction activity over the next 12 to 24 months,” he says.