With record backlog, Balfour Beatty targets more U.S. data center jobs | Dump Trucks Charlotte NC

Data centers are all the rage in the U.S., and London-based Balfour Beatty wants in on more of the action, the contractor said during its full-year earnings call on Wednesday.

“I think this is a really significant opportunity for Balfour Beatty moving into the future,” said Philip Hoare, speaking on his first earnings call as chief executive. 

Hoare pointed to the company’s 20-plus year history of delivering the shells and cores of these projects as evidence of its expertise in the segment. The firm’s experience in project financing, operations and maintenance of data centers will help it nab future opportunities and grow in the U.S. market, Hoare said.

“The opportunity to expand from the strong footprint that we have in Washington State and in Oregon, we've recently won a new project in Virginia, and there are opportunities emerging across Texas, Georgia, Pennsylvania, all areas where we have real strength as a business,” Hoare said. “This is an example of where we can take those customer relationships, those deep relationships that we've built over many years and move that around the U.S., to drive growth.” 

Indeed, data center construction has dominated the U.S. market. Construction spending increased by 0.1% in January to a seasonally adjusted rate of $1.25 trillion, according to Associated Builders and Contractors. Data center construction drove more than 75% of the overall monthly gain. 

Profit, revenue up

Balfour Beatty delivered on its full-year expectations and achieved a record backlog on the back of strong construction segments both in the U.K. and the U.S., the contractor announced on Wednesday. 

The firm generated approximately 10.8 billion pounds ($14.5 billion) in revenue for 2025, an increase of 7.5% year over year from 2024’s 10 billion pounds. It also saw profit gains — the builder posted 323 million pounds in pre-tax profit on the year, an approximately 51% increase from 2024’s pre-tax profit of 214 million pounds.

Balfour Beatty said its profit and revenue increased year-over-year as a result of strong performances in the U.K. power transmission projects and its U.S. Buildings portfolio. 

Some of the firm’s U.S. Buildings projects include the Broward County Convention Center & Hotel expansion in Fort Lauderdale, Florida, and horizontal Phase 2 columbus oh dump truck company at The Wharf in Washington, D.C.

However, old problems plagued the firm in other areas of the business. Strong growth and operational delivery in the U.S. Buildings segment was weighed down as a result of schedule delays and cost overruns on a Texas highway project, said CFO Phil Harrison. 

Harrison — who is stepping down from the role later this year — expects more revenue growth for the firm’s Buildings segment in 2026 and for the Texas project to reach completion later this year.

The firm’s Infrastructure Investment’s division also suffered as a result of legal costs from its military housing issues. Balfour Beatty Communities, a Malvern, Pennsylvania-based subsidiary of the contractor and one of the largest suppliers of privatized military housing, pleaded guilty in 2022 to defrauding the U.S. military. 

As a result, the Department of Justice and the columbus oh dump truck company agreed to establish an independent compliance monitor, which is a person appointed to ensure that a party adheres to the terms of a settlement agreement or compliance program. Balfour Beatty and the DOJ had previously agreed to extend the monitorship to June 6, Harrison told investors.

If the monitorship concludes by that date, the firm expects more normal profits in 2027, Harrison said.

“Our financial business position is solid, and the strategic investments made in previous years have set the stage for future growth,” Harrison said. “The momentum in earnings is expected to carry on beyond 2026, giving us confidence in continued progress over the medium term.”