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If there’s going to be a downturn in construction later this year, then the industry is going out with a large boom.
By several metrics, the Business Observer's annual list of the Top 50 Contractors in the region, ranked by revenue, is stellar this year. For one, total revenue generated in 2022 by the 50 companies, with headquarters from Tampa through Naples, totals $7.17 billion. That’s up 17.9% from $6.08 billion in 2021. The top 10 got bigger as well, hitting $4.78 billion, up from around $4 billion in 2021.
Another interesting metric that shows the strength, and resiliency, of contractors: On this year’s list seven companies posted a decrease in revenue over the previous year, and one of those firms dropped 1%. The seven companies with lower revenues are down from 25 that posted a drop in 2020 and 13 that posted a drop in 2021.
Of the 43 companies on the 2022 Top 50 that increased revenue, 27 were up at least 10% and 18 rose at least 25%. A trio of companies posted gains of at least 75%, including Clearwater-based Park & Eleazer Construction, which jumped from $40.61 million to $110.64 million — up 172.4%. Park & Eleazer started work on a public school in Jacksonville in 2022, according to its Top 50 entry form, while other projects include an 88-unit apartment building in Charlotte County and a Lamborghini dealership in Naples.
The top 10, while larger in volume, mostly stayed the same in names. The one change was Naples-based Connor & Gaskins Unlimited moved into the No. 10 position, with $162 million in revenue in 2022. The previous list’s No. 10 company, Clearwater-based Creative Contractors, with $144 million in revenue, fell to No. 11.
No. 1 remained the same, as it has for several years, with Manhattan Construction Group in that spot. The company — with a dual headquarters in Tulsa, Oklahoma and Naples — posted $1.48 billion in revenue in 2022 and has nearly 1,500 employees. The largest project it began work on last year was a renovation of the Hernando County Judicial Center. It’s also working on a new two-story city hall building in Dunedin, Pinellas County, and the Naples Botanical Gardens Evenstad Horticulture Campus.
One more note of gains: The 2022 Top 50 includes 17 companies over $100 million in annual revenue, up from 13 last year. New to the $100 million side of the list are Fort Myers-based Stevens Construction; Park & Eleazer; Fort Myers-based Crowther Roofing and Sheet Metal; and Fort Myers-based Wright Construction Group.
The region's top 50 contractors by 2022 gross revenue:
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