(Disclaimer I own shares of Skanska) TL:DR

Sweden-based developer and builder Skanska acknowledged economic uncertainties may impact its outlook, but company leadership remained bullish on the overall environment in a first quarter earnings call May 7.

“We still see a pipeline, but we can also see that it takes a little bit longer time for our customers to take the decision to invest and start a project. But it’s stable,” Danielsson said of U.S. commercial construction. On the other hand, Danielsson called the civil sector in the States “encouraging,” largely due to continued federal investments in infrastructure. The 12-month outlook for civil work in the U.S. remains strong.

“We can see a very healthy [civil] pipeline, we don’t see any decrease in activities here,” he said.

Building buoyed the company’s revenue, as its construction unit generated nearly 1.2 billion crowns in profit in Q1. The firm’s order backlog remains historically high at 263.6 billion crowns for all geographies, with about 23 months of construction work alone booked in the U.S.

Skanska CFO Jonas Rickberg, who took over as financial chief for Skanska in January, touted construction performance as “overall very strong.”

This Swedish construction company who wins a lot of awards in the USA is noticing a bit of a slowdown in USA construction. But overall they are performing well. I own this stock.

They seem to be a legitimate construction business that pays a dividend. Their growth projections lag tech and other large growth sectors but until the robots come humans will need construction firms such as this company to get their projects constructed.