[ad_1]
\n<\/p>\n
In the first earnings season for public construction companies since President Donald Trump announced blanket tariffs for most countries<\/a>\u00a0on April 2, C-suite executives mostly downplayed the impacts of that policy shift.\u00a0<\/p>\n Leaders at Irving, Texas-based Fluor, for instance, told investors that most of their customers were forging ahead with plans in spite of broader uncertainty. At Watsonville, California-based Granite Construction, the message was similar, as executives told shareholders money from the Infrastructure Investment and Jobs Act continued to flow.\u00a0<\/p>\n But beyond the business-as-usual messaging, there were undertones on the calls of a broader uncertainty hitting the market, and construction customers. Troy Rudd, CEO of Dallas-based AECOM, said the firm had seen delays and deferred decisions on a limited set of projects, an aspect that impacted the company\u2019s revenue for the quarter.\u00a0<\/p>\n Similarly, Montreal, Canada-based WSP said a \u201cvery unstable\u201d environment was snubbing potential M&A deals, while Sweden-based Skanska went so far as to downgrade its outlook for U.S. construction from strong to stable.<\/p>\n Although none of those comments alone would serve as cause for major concern, collectively they signal a new level of caution for builders \u2014 and their customers \u2014 one quarter into 2025. Here, Construction Dive rounds up public contractors\u2019 earnings views in a quickly changing economic and policy environment.\u00a0\u00a0<\/p>\n<\/p><\/div>\n