RALEIGH, N.C., Oct. 30, 2020 /PRNewswire/ -- FMI Corporation, the leading provider of consulting and investment banking services to the Built Environment, is pleased to announce the release of the fourth quarter 2020 Heavy Civil Construction Index (HCCI) report, which presents construction spending forecasts for transportation, highway and street construction segments.
This quarter's questions polled participants on trends affecting the competitive landscape, revenue expectations and diversification, and U.S. economic and business conditions in 2021, including world and U.S. health issues, private sector investments and the U.S. presidential and congressional elections.
Key findings from this quarter's survey include:
Buoyed by a positive outlook on the economy and increasing confidence in the construction industry, this quarter's Heavy Civil Construction Index (HCCI) increased from 34.9 to 43.3.
Nearly half (48%) of survey respondents are burning backlog faster than it is being replaced on a year-over-year basis.
Within the past six months, approximately one-third (34%) of respondents have found new, nontraditional competitors on bids, and within the past quarter, more than half of respondents have recognized increased competition (53%) alongside lower bid prices (56%).
Results for 2020 suggest that almost two-thirds (58%) of respondents will face revenue declines, with an average aggregated response of 2.8% contraction. Additionally, respondents are generally more optimistic about revenue performance for 2021, with 52% of respondents anticipating a return to positive revenue growth.
FMI is the leading provider of consulting and investment banking to the Built Environment. We provide services in the areas of strategy, leadership and organizational development, performance, technology and innovation, mergers and acquisitions, financial advisory and private equity financing.