Corporate News
Gilbane appoints Robert Dillard as CFO following predecessor's retirement
Gilbane Inc., parent of Gilbane Building and Gilbane Development, has named Robert Dillard as CFO, effective with a July 22 announcement. He succeeds Robert Murray, who is retiring. Dillard previously served as CFO at KB Home and Sonoco, and held executive roles at Domtar, Stanley Black & Decker, and UBS. The leadership change comes as the firm reports strong revenue growth.
Google raises capital expenditure to $205 billion, citing demand growth driving computing investment
Google plans to increase its fiscal 2026 capital expenditure to $205 billion, a significant rise from the previous estimate of up to $190 billion, and expects continued substantial growth in 2027. CFO Anat Ashkenazi stated that despite significant capacity expansion over the past three years, demand still exceeds investment. Q2 cloud revenue grew 82%, primarily driven by Google Cloud Platform's enterprise AI products and infrastructure. Additionally, the European Commission fined Google €890 million for violating the Digital Markets Act.
Acciona acquires 80% stake in Georgia infrastructure builder Vertical Earth
Acciona, a Madrid-based sustainable infrastructure contractor, announced an agreement to acquire 80% of Vertical Earth, an infrastructure builder in Cumming, Georgia. The deal, expected to close near year-end, will establish Atlanta as a strategic hub for Acciona's infrastructure growth, enhancing self-perform capabilities and access to local talent and suppliers. Vertical Earth, founded in 1997, generated $217 million in revenue in 2025 and employs over 600 professionals. Founder and CEO Brett Johnson will retain his role and a 20% stake. Acciona cited the strength of the U.S. infrastructure market, which accounts for 20% of the global industry, and plans to capitalize on DOT investments in the Southeast.
Latest construction data shows initial signs of stabilization in industry activity beyond the data center boom
The latest construction economic report shows that construction activity in April 2026 may begin to stabilize beyond data center construction: planning activity has improved, total starts have surged, backlog orders have risen to a 10-month high, and job vacancies have reached their highest level in 2026. However, growth momentum is still mainly driven by data centers, public infrastructure, and AI-related projects, with large contractors holding most of the backlog, while private construction sectors such as manufacturing remain weak and material costs are rising again.
Turner Construction has secured 10 billion-dollar projects so far in 2026
Turner Construction's first-quarter 2026 revenue was $7.7 billion, up 25% year-over-year; backlog stood at $48.9 billion, up 34% year-over-year; and new awards reached $12.1 billion, up 48% year-over-year. The company has won 10 projects each expected to exceed $1 billion in value, surpassing its full-year 2025 level. Data center, commercial, and healthcare projects were the primary growth drivers.
2026 Top 100 US Commercial Contractors Released: Turner Construction Tops for Six Consecutive Years
Engineering News-Record's 2026 Top 400 US Commercial Contractors list was released on Wednesday. Turner Construction of New York topped the list for the sixth consecutive year with $28.3 billion in revenue; Bechtel of Reston, Virginia, continued to rank second; and STO Building Group of New York jumped from sixth last year to third, pushing Kiewit of Omaha, Nebraska, down to fourth. The list shows that the AI data center construction boom has driven significant revenue growth among top firms, but the industry also faces multiple pressures including tariffs, the Iran situation, and skilled labor shortages.
Forbes Largest Family-Owned Businesses in the U.S.: Bechtel, HITT and Other Construction Giants Make the List
To celebrate the 250th anniversary of the founding of the United States, Forbes has released its first-ever list of the largest family-owned businesses in the U.S. Among the 100 companies on the list, more than one-fifth are construction or construction-related businesses, covering general contractors, building material suppliers, utility contractors, and more. Companies such as Bechtel, HITT Contracting, Quikrete, and 84 Lumber are all included.
Zachry Construction launches $108 million water project in Dallas
San Antonio-based infrastructure builder Zachry Construction has started a wastewater treatment facility upgrade project in Dallas valued at approximately $108 million, owned by the Trinity River Authority, with expected completion in the fourth quarter of 2029.
Fluor's first-quarter results are 'messy': new contracts and revenue both decline
Fluor released its first-quarter 2026 financial results, with new contract awards down 54% year-over-year to $2.69 billion and revenue down 8% to $3.66 billion. CEO Jim Breuer said the decline in orders is a timing issue and revealed that the potential project pipeline exceeds $60 billion, maintaining confidence in full-year growth.
Tutor Perini targets data center opportunities, expects strong performance in 2026-2027
Tutor Perini revealed during its earnings call that it is evaluating expansion opportunities in the data center sector but will remain cautious. The company expects strong performance in 2026 and 2027 and disclosed bidding progress on several large projects.