Top Specialty Contractors

The number of responses to this most recent annual survey was down considerably. In itself, that’s a telling indicator.

While each of the previous two Top Specialty Contractor rankings had reached a depth of 200, this latest “Top” survey generated only enough responses for a ranking of 150.

Last year’s ranking of Top Specialty Contractors—again, with 200 firms listed—represented approximately $8.5 billion in cumulative revenue. That was an all-time revenue high for the magazine’s Top Specialty ranking.

In contrast, the revenue represented by this year’s ranking—which is based upon 2009 revenues—is down significantly, to just over $5.1 billion. That collective total equates to a roughly 40% drop from a year ago, well more than the 25% decline in the number of participating firms.

Further Analysis

At the top of the list—and throughout—revenues are mostly down. Only one of the Southeast’s ten largest specialty contractors—the #1-ranked firm—experienced a discernable uptick during 2009, compared to 2008.

Also, several firms from last year’s top 10 fell to lower positions in the ranking. Even so, this year’s top 10 includes at least some of the usual suspects. Coral Gables, Fla.-based telecommunications contractor MasTec takes the top spot yet again.

The firm reported slightly increased revenues: nearly $588.1 million in ‘09 revenue, up from the $557.8 million of a year ago.

Second-ranked Top Specialty stalwart EMCOR Group reported roughly flat revenues. The Connecticut-based specialty contracting giant reported $253.9 million in Southeast revenue, compared to the $253.4 million of a year ago.

The rest of the top 10 experienced declining fortunes.

Charlotte, N.C.-based SteelFab, fell from second to third place in this year’s ranking. The company’s revenue dropped from the $326.7 million included in last year’s ranking to this year’s total of $194 million.

Miller Electric Co. of Jacksonville, Fla., returned in the fourth position, but also with significantly reduced revenue: $165.6 million, versus its total of a year ago of $238.5 million.

Cleveland Electric Co. of Atlanta rose in the rankings, from eighth to fifth, a result of $159.3 million in revenue, on par with the firm’s year-ago income.

Sixth-ranked Tri-City Electrical Contractors of Altamonte Springs, Fla., also reported lower revenue. The firm generated $133 million in 2009 revenue, down from the $190.3 million it indicated a year earlier.

Inglett & Stubbs, in seventh place, had its annual revenue decline from last year’s $141 million to roughly $129.2 million.

The firm in eighth place this year, Precision Walls, moved up five spots on revenue that declined only slightly. The company reported $126 million in ’09 revenue, down from $130 million a year ago.

Orlando-based Acousti Engineering Co. of Florida, in ninth position, saw its revenue drop nearly $30 million from last year to total nearly $125 million.

Rounding out the top 10, Baker Roofing Co. of Raleigh, N.C., shot up 10 spots from last year’s ranking, despite a more than 13% drop in revenue. The contractor reported $ 90.2 million in 2009 revenue, down from the $104.1 million it indicated a year ago.

Survey Details

As with other contractor lists that Southeast Construction publishes, this one is based on revenue generated during the preceding calendar year. However, firms that were not able to supply information on a calendar-year basis were allowed to submit fiscal-year revenue. These firms are marked with an asterisk.

The format of our ranking is again based on regional revenue totals, meaning the volume of work collected in 2009 from projects located within the magazine’s four-state territory of Florida, Georgia, North Carolina and South Carolina.

All figures listed in both the main ranking and the breakout listings are based upon online surveys submitted by the listed company. As with all of Southeast Construction’s rankings, specialty contractors must submit a survey in order to be listed.

Firms that were not included this year, and who would like to participate in future rankings, are encouraged to send their contact information to our database manager, Richard Mui, at Richard_Mui@mcgraw-hill.com. As always, however, future online “Top” surveys will be made available to any qualifying firm via our website, www.Southeast.Construction.com, several months prior to deadline.