Despite the positive revenue numbers produced by companies in this year’s ENR East Top Contractors ranking, executives are in a more cautious mood than might be expected after a productive year.
“The commercial and life sciences office sectors continue to experience flu-like symptoms as companies adapt to hybrid work styles, reduced office needs and a general glut of unleased space,” said Chris Doepper, chief operating officer and executive vice president of Dimeo Construction, ranked No. 32 for the second year in a row.
The Johnston, RI-based company posted revenue of $646.82 million in 2025, up 11.39% from $573.17 million a year earlier. “If or when we get clarity on interest rates and the Iran conflict, and both turn out to be positive, we anticipate a stronger construction market over the long term,” he says.
However, the 89 companies that responded to the survey reported combined revenue of $93.08 billion in 2025, a 7.77% increase from last year’s $86.37 billion, for work in Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, West Virginia, New Jersey, West Virginia, New Jersey, West Virginia and West Virginia.
This year’s top 10 companies combined to post an 11.29% increase in revenue to $51.64 billion from the $46.4 billion reported last year. HITT Contracting, in the top three last year at $5.17 billion, jumped to No. 1 with a whopping 46.62% increase in revenue to $7.58 billion. Turner Construction was second at $6.73 billion, up 17.04% from $5.75 billion. Last year’s top company, Whiting-Turner Contracting Co., fell to third place with $6.24 billion in revenue, although total revenue was still up 4.35 percent from last year’s $5.98 billion.
As always, the following pages include contractors ranked by state revenue and by market sector, as well as rankings for the MidAtlantic, New York-New Jersey, and New England subregions that make up ENR East.
The top 15 Mid-Atlantic companies reported a 21.89% increase in revenue to $33.36 billion in this year’s survey, up from $27.23 billion last year. The total for the top 15 in New York-New Jersey was $25.95 billion, an increase of more than 12% over the previous year. The $13.44 billion posted for the top 15 New England companies was down slightly from last year’s $13.85 billion.
Rycon Construction, #34, is the general contractor for Pennsylvania Western University’s Science Building on the school’s campus in California, Pennsylvania.
Photo courtesy of Rycon Construction
Change of Land
Cost pressures, interest rate uncertainty, geopolitical concerns and customers’ need for greater predictability are helping to create an environment that several executives describe as uneven, in which owners are disciplined and increasingly selective.
Camilo Garcia, co-regional leader for DPR Construction Northeast and a member of the leadership team based in the Washington, DC area, expects “the Northeast construction market to remain active but uneven in the core markets we serve over the next year or two.”
The contractor ranked No. 12 with revenue of $2.42 billion. Last year, DPR was the #11 company with $2.14 billion. “The main limitation may be the ability to deliver rather than a lack of opportunity,” adds Garcia.
“If or when we get clarity on interest rates and the Iran conflict, and both turn out to be positive, we anticipate a stronger long-term construction market.”
—Chris Doepper, Chief Operating Officer and Executive Vice President of Dimeo Construction
There is also a clear change in the way clients and builders approach the job. Instead of canceling plans outright, owners appear to be refocusing projects and looking for partners who can help manage risk, control costs and improve certainty ahead of the process, executives say.
This suggests that success will depend more on execution, deliverability, problem solving and the ability to keep projects viable in a more complicated environment. “Success in the coming years will not be driven by demand alone, but by how effectively projects are delivered,” says Ryan Hutchins, Boston-based regional president of Gilbane Building Co, No. 10. The company’s $3.61 billion in revenue by 2025 is up from $3.56 billion last year.
Kevin Montez, president and chief operating officer of Pittsburgh-based Rycon Construction, helped his company post revenue of $597.08 million, up from the $537.41 million it reported last year. He says the market will remain “active” while being more “disciplined.”
He adds: “Overall, the conversation is changing. It’s less about building and more about getting involved early, helping clients navigate costs and risks, and finding practical ways to keep projects going.”
New York hospitality
While several executives expressed cautious optimism for the next 12 to 24 months and stronger longer-term confidence if macroeconomic uncertainty eases, they also say the market overall still has momentum, albeit more selective, risk-aware and execution-focused.
Executives weren’t just sharing cautionary tales. Sectors like New York City’s hospitality market “have come back strong,” says David Margolius, executive vice president of Shawmut Design and Construction, Boston, which ranks No. 14 with $1.66 billion in revenue, up from $1.44 billion last year. “I will always bet on New York, and the signs of growth are strong for most sectors over the next five years,” he says.
Kerim Evin of Skanska USA Building, a regional executive officer based in Boston, emphasized a greater focus on certainty. Skanska ranked 9th this year with $3.71 billion in revenue by 2025. Last year, the company posted $3.24 billion. “We remain cautiously optimistic about construction activity over the next 12 to 24 months,” he says.
