Tutor Perini Posts Record Q3 Revenue
Tutor Perini reported third-quarter revenue of $1.7 billion, while Skanska and Royal BAM posted growth across their construction businesses.
Updated on Nov. 5, 2026 in Construction
Tutor Perini reported record third-quarter 2026 revenue of $1.7 billion, up 22% year on year, and raised its full-year adjusted earnings per share guidance. Skanska reported group revenue of SEK49.4 billion for the quarter, and Royal BAM Group reported solid revenue for the first nine months of 2026.
Why it matters
The results show continued demand and rising project volumes across large U.S. and European contractors, with Tutor Perini's backlog reaching $20.4 billion as of September 30. Higher-margin projects helped lift construction operating income at Tutor Perini.
Tutor Perini's backlog stood at $20.4 billion as of September 30, after $2.2 billion in new awards and contract adjustments in the quarter. Skanska's record construction backlog reached SEK328.3 billion, while its construction order bookings rose roughly 70% to SEK68 billion.
The players
Tutor Perini Corporation
A U.S. construction contractor that operates across civil, building and specialty construction markets.
Skanska
A Swedish construction and project development group with operations across several countries.
Royal BAM Group
A Dutch construction and civil engineering group with operations in the Netherlands, UK and Ireland.
The details
Tutor Perini's revenue rose across its Civil, Building, and Specialty segments, with Building up 29%, Specialty up 26%, and Civil up 16%. Skanska's Construction operating income was SEK2.3 billion, a 5% margin, while its Project Development unit posted a SEK200 million operating loss tied to impairments on commercial, residential and land holdings.
Timeline
Tutor Perini's backlog was measured at $20.4 billion as of September 30, 2026.
Tutor Perini and Skanska reported third-quarter 2026 results.
Royal BAM Group reported results for the first nine months of 2026.
Market Landscape
Tutor Perini's $20.4 billion backlog and Skanska's record SEK328.3 billion construction backlog show large contractors on both sides of the Atlantic holding substantial forward work. Order intake at Skanska rose roughly 70%, signaling that competition for large projects remains active among major builders.
Growing contractor backlogs can translate into more hiring and steady project work for construction employees and subcontractors. Homebuyers and public-works budgets may also feel effects as rising project volumes keep labor and materials in demand.
The takeaway
Strong backlogs suggest large contractors have work lined up well beyond the current quarter, though margins and project timing will determine how much of that growth reaches their bottom lines. Readers tracking the sector should watch future quarterly backlog conversion rates.
Further reading
For more on large project pipelines, see Construction coverage on Wisevoter.
Source note: This article includes information reported by Construction Briefing.
