Public contractor backlog weathers ups, downs during the pandemic

Public contractor backlog weathers ups, downs during the pandemic

While COVID-19 had an impact on backlogs across the construction industry, some public companies performed better than others. When a company failed to grow its backlog, it was often because it worked for a sector that was struggling.

“The primary areas where we saw outside pressure in backlogs was more in the deeper cyclical end markets, oil and gas and chemicals,”┬ásaid Sean Eastman, equity research analyst at Cleveland-based corporate and investment bank KeyBanc Capital Markets. “Those were the areas where we’ve seen pretty steep drops in backlogs.”