Leading for the Long Term

Building with Confidence in a Changing World

Our projects collectively improved urban mobility, powered communities, expanded access to the world’s reserves of critical minerals, increased LNG exports, strengthened defense and economic security, and bolstered energy independence with clean energy from nuclear to solar.   

We also excelled in our most important metric: safety. In 2024, we retained our International Organization for Standardization certification—which ensures we uphold the highest standards of occupational and health and safety for our people. Our numbers reflect that commitment. We outperformed industry benchmarks, registering some of the lowest injury rates in company history, with a lost time incident rate of 0.016 and a total recordable incident rate of 0.172.

Bechtel has come a long way since our founder, Warren Bechtel, first began grading railroad beds in Oklahoma at the turn of the 20th century. But while we’ve grown and evolved, one thing hasn’t changed: our commitment to progress. Not as an idea, but as a tangible outcome for our customers. At Bechtel, our purpose is to build what moves the world forward. 

Year after year we adapt to our customers’ changing needs and expectations, ensuring that Bechtel is uniquely suited to deliver in the marketplace. In 2024, that meant investing in our people and how we deliver, building Bechtel for the long term, and leading with our values.

Developing the Industry’s Best Workforce

Our people are at the center of everything we do. From concept through construction and beyond, their sense of mission, problem-solving mindset, and relentless pursuit of excellence make our work — and our impact — possible. And never in our history has attracting and retaining top talent been more important.

Our ability to deliver the world’s most complex megaprojects is inextricably tied to the quality of our people— and strengthened by the tools and training we provide, the culture we build together, and the proven processes we follow to drive results.  

To that end, we’re working to be the most sought-after employer in the industry. This year, we rolled out a new paid-time-off policy for craft professionals — an industry-leading standard. We also continued to forge partnerships with universities and organizations to launch apprenticeship programs around the globe, upskill local workers, and grow our craft professional and professional staff pipelines.

Our focus remains twofold: reaching a broad and diverse pool of candidates to find the best talent and fostering a culture of belonging where everyone feels heard, respected, and empowered to thrive. We want current and future team members to know Bechtel offers more than a job.  We have always been and will continue to be a place where people come to stay and build meaningful careers. 

Additionally, we’ve set a goal of creating the industry’s best training programs. In 2024, we expanded customer-based leadership training to help our colleagues deepen trust and collaboration among one another and our customers. We also rolled out a clear, consistent job architecture for every position at Bechtel — laying the groundwork for the skills that are required at every level. This architecture will serve as the foundation for a multi-year enterprise-wide training effort. 

Ultimately, the companies that invest in talent today will define the industry tomorrow. 

Focused on the Long Term

Looking ahead, we’re clear-eyed about the challenges and opportunities that lie on the horizon. The evolving global energy economy, soaring electricity demand, the race to lead in artificial intelligence, the reshoring of U.S. manufacturing, and the changing face of urban mobility are just several of the trends driving the need for Bechtel’s unique capabilities in delivering large-scale projects. With the rise of AI and digital delivery tools, we’re investing heavily in these technologies — putting them in the hands of our people, developing new applications, and positioning Bechtel at the forefront in unlocking their full potential. As the global landscape grows more complex, our experience navigating and adapting to change will become even more valuable.  

Overall, we remain focused on ensuring Bechtel is built for — and builds for — the long term. In 2024, we did that by continuing to expand into high-growth sectors like manufacturing and technology, while supporting our customers’ pragmatic “more of everything” energy strategies, positioning ourselves for greater work in LNG, combined cycle power, and nuclear power around the world.   

We also strengthened our supply chain by adding in-house steel fabrication to our existing pipe and tank capabilities, deepening our vertical integration, and deploying digital tools to build smarter and faster. And we helped customers do more with less — prioritizing quality, minimizing rework, and reducing complexity through our self-perform capabilities.   

By preparing for the future today, we’re positioning Bechtel to help customers and communities meet the moment, and lead through it. We are already maintaining a diverse portfolio to insulate Bechtel from market turbulence, engaging customers during the front-end-design phase to demonstrate our expertise, and investing in innovation.  

We expect that these steps will set us up for an even more successful 2025 and 2026. But year-over-year performance isn’t the only way we measure our success. We measure it by pushing the bounds of what’s possible—never settling, always striving to reach our full potential and exceed our customers’ expectations. 

Guided by Foundational Values

Extraordinary teams building inspiring projects. We articulated this vision in 2023, but it has defined our company since the beginning. It remains the standard we strive for in everything we do. And in 2024, our Vision, Values, & Commitments continued to guide us. 

Nowhere was this more evident than in our commitment to take care of one another by putting safety and well-being above all else. In 2024, we launched a landmark five-year partnership with the American Foundation for Suicide Prevention (AFSP) to confront the suicide crisis in our industry. Our initial goal is to reach 500,000 construction workers. 

To support the effort, Bechtel also announced the formation of a CEO Advisory Council to provide AFSP with insights on the unique challenges craft professionals face. The companies and unions on the council represent more than 3 million U.S. construction workers, and over time, we plan on enlisting more stakeholders, so we can reach every worker in the industry. We believe caring for mental health should be as routine — and as normalized — as putting on a hard hat. This industry-wide partnership is a major step toward making that belief a reality.

Bechtel is Ready

As the future comes into focus, we have every reason to be optimistic. The world urgently needs builders— builders who can do what no one else can. The global population is expected to grow by nearly 2 billion people by 2050, driving demand for everything from air travel and roads to clean energy and digital infrastructure. A rising global middle class is seeking greater access to modern essentials, while the growth of artificial intelligence is accelerating the need for new data centers.

Just as we have for the past 127 years, we live for a challenge. Backed by a legacy of excellence, extraordinary teams, and ironclad values, we’re developing the solutions that will support a more sustainable, connected, and secure world. At our core, we’re still doing what we’ve always done: building what moves the world forward.

Thank you for your interest in Bechtel. We look forward to sharing our continued progress with our colleagues, customers, and communities.