Industry Report Card: North American Engineering & Construction Apr 04
Standard & Poors, April 2004
Abstract
Modest signs of improvement in the domestic engineering and construction (E&C) sector occurred during the fourth quarter of 2003. There are some supportive indications for market recovery in 2004, such as a continued robust housing market, revival of certain end-markets, and statements from industrial manufacturers that the commercial and industrial construction sector has bottomed. In January 2004, the U.S. Census Bureau reported that total construction spending had increased to $931 billion, from $852 billion in 2001, and total construction spending increased 5.4% from the prior year. Still, most E&C and industrial firms remain only cautiously optimistic about near-term demand and do not expect to see significant recovery until 2005. Although market demand is generally becoming more favorable for E&C firms,...
Companies mentioned in this report are:
- Fluor Corp.
- Halliburton Co.
- Foster Wheeler AG
- NRG Energy Inc.
- Alcatel-Lucent USA Inc.
- MasTec Inc.
- EMCOR Group Inc.
- Schuff International Inc.
- Great Lakes Dredge & Dock Corp.
- Integrated Electrical Services Inc.
- URS Corp.
- The Shaw Group Inc.
- SNC-Lavalin Group Inc.
- Quanta Services Inc.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Fluor Corp.
- Halliburton Co.
- Foster Wheeler AG
- NRG Energy Inc.
- Alcatel-Lucent USA Inc.
- MasTec Inc.
- EMCOR Group Inc.
- Schuff International Inc.
- Great Lakes Dredge & Dock Corp.
- Integrated Electrical Services Inc.
- URS Corp.
- The Shaw Group Inc.
- SNC-Lavalin Group Inc.
- Quanta Services Inc.
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