Total revenue in Fluor’s second quarter was down 6% year-over-year to $4 billion and was almost unchanged for the first six months of the year at just under $8 billion.

Revenue from Fluor’s Urban Solutions division, which encompasses its engineering, procurement and construction services, totaled $2 billion, up 13% year-over-year. For the first six months of the year, Urban Solutions revenue fell 22% to $2.4 billion.

Total new awards in the Urban Solutions department were down 65% in the second quarter to $856 million and down 15% for the first six months to $6.2 billion.

Fluor’s Urban Solutions backlog was valued at $20.6 billion as of June 30, 2025, up 5% from $19.6 billion one year ago.

Tutor Perini’s second-quarter revenue was up 22% year-over-year to $1.4 billion, driven by increased project execution activities on certain newer, higher-margin projects. Revenue for the first half of the year was down 20% to $2.6 billion.

Tutor Perini’s Civil segment reported $784 million in second-quarter revenue, up 36% year-over-year. Building segment revenue was up 12% to $486 million, and Specialty Contractors revenue rose 9% year-over-year to $177 million.

Income from construction operations came in at $76.4 million, up 89% year-over-year. For the first half of the fiscal year, construction operations income was up 59% to $141 million.

Tutor Perini reported just over $3 billion in new awards for its second quarter, with $2.2 billion of that attributed to its Civil segment.

Granite Construction reported total revenue in its second quarter of $1.1 billion, up 4% year-over-year. Total revenue was also up during the first six months of Granite’s fiscal year, up 4% to $1.8 billion.

Revenue from Granite’s Construction segment was up 2.1% year-over-year to $937 million in the second quarter and up 2.6% in the first half of the year to $1.6 billion. Total gross profit in the quarter rose 13.5% to $154 million and rose 24.4% for the first six months to $239 million.

The Materials segment's second-quarter revenue rose 14.6% to $189 million and was up 13.2% for the first half of the year to $273 million. Gross profit also rose for the segment, up 54.9% for the quarter to $45 million and up 63.6% for the first six months of the fiscal year to $44 million.

Skanska’s total second-quarter revenue came in at $4.6 billion, down 6% year-over-year from $4.9 billion in the previous year’s second quarter. Total operating income for the quarter was down 30% to $187 million.

Construction revenue was down 1% to $4.5 billion in the second quarter, while construction operating income was up 8% to $173 million.

Construction order bookings in the quarter came in at $5.9 billion, down 7% from $6.3 billion. Order backlogs as of March 31 were valued at $27.8 billion, up 2% from one year ago.

Major orders in Skanska’s second quarter include:

A $690 million bridge order from the Virginia Passenger Railroad Authority A $290 million bridge order from the Massachusetts Department of Transportation A $260 million engineering facility order from Virginia Tech

It’s a mixed bag when it comes to the performance of these construction companies. Shocked to see Skanska lose money but they are doing much better than Fluor. Tutor is killing it but I think it’s due to its strong commitment to data centers. But things are definitely slowing down which could mean bad news for the overall economy. (Disclaimer I own shares in Skanska)