Risk management and remaining poised to deliver on in-demand projects has been the story for Skanska for several quarters in a row. That thread of weathering economic and geopolitical headwinds continued during the firm’s first quarter earnings call Thursday.
The Sweden-based contractor reported success in its construction sector, particularly building data centers and infrastructure projects in the U.S.
Though Q1 saw the start of the Iran War, CFO Pontus Winqvist told Construction Dive most of the cost impacts have been confined to fuel, which Skanska has navigated without yet seeing larger side effects.
Skanska reported operating profit of 1.14 billion Swedish krona ($123.5 million) for the first quarter of 2026, a roughly 5% increase from the same period a year prior. Construction continued to be the strongest spot for the builder, with 1.1 billion krona in profit from that sector.
Backlog has remained “historically high,” said CEO Anders Danielsson, a descriptor he’s used to classify the firm’s awarded work for several quarters in a row. Skanska reported 267.5 billion krona in work for the quarter, up 1.4% from Q1 2025.
Major awards from the first quarter include the $534 million bridge deck replacement for the Vincent Thomas Bridge in Los Angeles — for which Skanska’s share of work is worth $320 million — and the $165 million contract with Texas A&M University to construct a new biology building in College Station, Texas
Skanska says its work unimpacted by major economic headwinds
Risk management and remaining poised to deliver on in-demand projects has been the story for Skanska for several quarters in a row. That thread of weathering economic and geopolitical headwinds continued during the firm’s first quarter earnings call Thursday.
The Sweden-based contractor reported success in its construction sector, particularly building data centers and infrastructure projects in the U.S.
Though Q1 saw the start of the Iran War, CFO Pontus Winqvist told Construction Dive most of the cost impacts have been confined to fuel, which Skanska has navigated without yet seeing larger side effects.
By the numbersBy the numbers
Skanska reported operating profit of 1.14 billion Swedish krona ($123.5 million) for the first quarter of 2026, a roughly 5% increase from the same period a year prior.Construction continued to be the strongest spot for the builder, with 1.1 billion krona in profit from that sector.Backlog has remained “historically high,” said CEO Anders Danielsson, a descriptor he’s used to classify the firm’s awarded work for several quarters in a row. Skanska reported 267.5 billion krona in work for the quarter, up 1.4% from Q1 2025.
Major awards from the first quarter include the $534 million bridge deck replacement for the Vincent Thomas Bridge in Los Angeles — for which Skanska’s share of work is worth $320 million — and the $165 million contract with Texas A&M University to construct a new biology building in College Station, Texas