Our annual survey of subcontractors in the Southwest shows revenue totals plummeting in 2009. Last year, we ranked 160 companies totaling $6.13 billion based on their 2008 revenue. This year, the responses fell to 113 firms with revenue totaling just $3.58 billion in 2009.
Even with the drop in participation, the largest firms remain fairly consistent year to year. All but five of last year’s top 50 subs submitted surveys this year.
The top 10 subcontractors reported only $1.34 billion, dropping 41% from $2.28 billion of work in 2008. Arizona subcontractors fell 36% to just over $2 billion, after bringing in $3.19 billion the previous year.
Unsurprisingly, Nevada was hardest hit, with subcontractors losing more than half of their revenue last year with just shy of $1.2 billion in work for 2009. The smaller New Mexico market dropped the least, with $346.3 million reflecting a 24% drop from the previous year.
Among market sectors, electrical contractors were above the curve with nearly $1 billion in work, compared to $1.27 billion the previous year. Conversely, concrete contractors saw revenue totals evaporate from $670 million in 2008 to just $214.3 million in 2009. Some of this drop may be attributable to an industry trend with general contractors self-performing concrete work on large-scale projects.
The following charts are based upon surveys sent to specialty contractors throughout the region. Only those firms responding with their 2009 revenue were included. Every effort was made to contact each company at least once. Please contact Richard Mui at richard_mui@mcgraw-hill.com if you wish to be included in next year’s ranking.
