Bechtel Releases 2019 Annual Report Showing Strong Financial and Sustainability Performance
01 April 2019
Innovation and customer success drive last year’s results at global leader in engineering, procurement and construction
Today, Bechtel Corporation released its Annual Report showing it ended 2018 in a healthy financial position. Through helping customers deliver their most important projects and in making important progress on its own sustainability goals, Bechtel reinforced its standing as a trusted engineering, procurement and construction partner to industries and governments worldwide.
In 2018, which marked Bechtel’s 120th anniversary, the company achieved:
- $25.5 billion in total revenue;
- $17.3 billion in new project awards;
- And $46.9 billion in backlog.
Building on its history of delivering projects that change the world for the better, Bechtel helped customers achieve their objectives. Among the highlights:
- Partnered with Cheniere to deliver the first liquified natural gas cargoes from the U.S. Gulf Coast (Sabine Pass LNG in Louisiana and Corpus Christi LNG in Texas) several months ahead of schedule and ahead of competing projects in the region;
- Partnered with Chevron to achieve operational status at Wheatstone LNG, one the largest resource projects in Australia
- Partnered with the government of Oman to complete and open the world-class Muscat International Airport;
- Partnered with Rio Tinto to deliver the first cargo of bauxite at the Amrun Project in Australia;
- Partnered with Panda Power Fund to complete the Hummel Station Power Plant, a combined-cycle facility in Pennsylvania that will supply more than twice the power of the coal plant it replaces and reduce key emissions by 90 percent;
- And partnered with Georgia Power to deliver major installations at the Vogtle Plant in Georgia, the only nuclear power facility under construction in the U.S.
“We are grateful for our customers who, in 2018, gave us the opportunity to earn their trust through our performance and shared values,” said company Chairman and Chief Executive Officer Brendan Bechtel. “We are purpose-built to partner with our customers to design and build projects which make the world better, safer, and more sustainable. In 2019, we will continue to invest in our people and capabilities to better serve our customers and their missions.”
Bechtel entered into many new partnerships in 2018. The company was selected as the project manager for design, definition, and delivery partner for Sydney’s new international airport in New South Wales, Australia. The company also was chosen by Texas Central to manage the development of the Texas High Speed Rail project, which seeks to connect Dallas and Houston and benefit roughly 16 million commuters. And Bechtel expanded its work with the Department of Energy, Teck, Cheniere, Tellurian Inc., and several others. These partnerships generated $17.3 billion in new work booked and a year-end backlog of $46.9 billion.
The 2019 report highlights the company’s continuing investment in innovation and sustainability. Bechtel will extend its innovation program, which is was designed to help reduce costs for customers and improve schedule performance and has generated more than 3,000 new ideas from colleagues worldwide in just three years. About 180 of those proposals have been tested and have been deployed on projects or soon will be.
The company also continued to make progress toward its 2030 sustainability goals: contributing 100 ideas to help achieve the United Nations Global Sustainable Development Goals; improving the resilience of five million people to natural hazards through our voluntary initiatives; using sustainable alternatives to reduce our environmental footprint at all of our facilities, and engaging our key suppliers to promote sustainability in the delivery of materials and services.