According to Engineering News-Record (ENR), this past year was lucrative for the majority of U.S. specialty contractors. ENR data shows most companies listed in its annual “Top 600 Specialty Contractors” analysis reported increased revenues from 2021 to 2022. Of the 600 firms included, 79.4% stated that revenue rose in 2022.
Data from companies also show the median new contract total on the 2023 list increased by 14.8% to $101 million. Additionally, new contract awards rose 22.5% to $173.31 billion, while 94.4% of the 522 firms that shared profitability status reported a profit in 2022.
However, have revenues increased in the glazing and curtainwall sector? According to data presented by ENR, yes and no. Despite some glazing companies recording impressive revenue growth from 2021 to 2022, such as Crawford-Tracey Corp. and National Enclosure Co., 45% of the top 20 firms in glazing and curtainwall reported revenue declines. Of that 45%, several glazing firms experienced revenue declines of more than 15%.
Here are the largest percentage changes between 2021 and 2022 starting with the highest revenue growth.
Crawford-Tracey Corp.
- 2022 Total Revenue: $26 million
- 2021 Total Revenue: $18 million
- Percentage Change: +44%
National Enclosure Co.
- 2022 Total Revenue: $29 million
- 2021 Total Revenue: $23 million
- Percentage Change: +25%
Flynn Group of Cos.
- 2022 Total Revenue: $166.7 million
- 2021 Total Revenue: $136 million
- Percentage Change: +22%
Massey’s Plate Glass & Aluminum
- 2022 Total Revenue: $125 million
- 2021 Total Revenue: $109 million
- Percentage Change: +15%
Crown Corr Inc.
- 2022 Total Revenue: $203 million
- 2021 Total Revenue: $178 million
- Percentage Change: +14%
The companies with the largest revenue declines between 2021 and 2022 include:
Egan Co.
- 2022 Total Revenue: $26 million
- 2021 Total Revenue: $60 million
- Percentage Change: -56%
Kovach Building Enclosures
- 2022 Total Revenue: $22 million
- 2021 Total Revenue: $32 million
- Percentage Change: -31%
Giroux Glass Inc.
- 2022 Total Revenue: $52 million
- 2021 Total Revenue: $75 million
- Percentage Change: -30%
Pioneer Cladding & Glazing Systems Inc.
- 2022 Total Revenue: $67 million
- 2021 Total Revenue: $83 million
- Percentage Change: -19%
It seems like a very small section you are examining. Most of these companies were in your latest reports on growth. I do not believe this data provides any valuable insights to about the business or the markets to your readers or customers. And it was poorly presented to top it off.