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CORRECTED-Bechtel revenue grows 15 pct in 2012, backlog shrinks
May 17, 2013 / 9:56 PM / 5 years ago

CORRECTED-Bechtel revenue grows 15 pct in 2012, backlog shrinks

(Corrects contract award figure in 2nd paragraph to $23.9 bln, not $23 bln)

May 17 (Reuters) - Bechtel, the largest U.S. engineering company, said on Friday that its revenue grew by 15 percent in 2012, though its backlog of projects declined by 12 percent to $92 billion.

The company’s $37.9 billion in 2012 revenue came alongside contract awards of $23.9 billion, or less than half the backlog boost it received the previous year thanks to mining and liquefied natural gas projects.

“Following a record year in 2011 when we experienced unprecedented demand for LNG projects, each of our business units delivered solid performances in 2012,” Chief Operating Officer Bill Dudley said in a statement. “We believe 2013 will be another strong year for Bechtel.”

The privately held company, which does not report profits, maintained its headcount at 53,000 employees. Managing projects from nuclear reactors and oil refineries to government services and transport, Bechtel competes with Fluor Corp and Jacobs Engineering Group Inc.

Bechtel said refinery expansions in the United States and Thailand and a large copper concentrator in Peru were among its most notable projects completed last year.

Revenue at Fluor, its nearest U.S. rival, rose 18 percent in 2012 to $27.6 billion.

Reporting by Braden Reddall in San Francisco; Editing by Leslie Adler

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