Worker in a high-visibility jacket facing the sunset on a construction site.

Tomorrow
is Ours
to Build

A message from Brendan Bechtel & Craig Albert

Among the ideas that inspire and drive us at Bechtel, none may be more powerful than the belief that tomorrow is ours to build. The 21st century and beyond will be shaped by the world’s ability to work at speed and at scale to meet fast-evolving needs for infrastructure, energy, advanced manufacturing, critical resources, environmental protection, and national security.

These challenges are more complex than ever. They demand innovative thinking, deep collaboration, and diverse skills. We must use practical and flexible approaches, deliver integrated solutions, and implement long-term, life-cycle strategies — all aligned with a shared vision and backed by exceptional execution.

With our unique expertise and experience, Bechtel is purpose-built to tackle these challenges.

Bechtel CEO Brendan Bechtel and President and COO Craig Albert.

“
We welcome these challenges both as a responsibility and an opportunity to partner with our customers in building a more sustainable and prosperous world.
”

Woman in a hard hat and safety vest on project site talking into a handheld radio.

A World in Transition

Global demand for engineering and construction is accelerating at an astonishing pace. It is estimated that three-quarters of the infrastructure needed for 2050 has yet to be built, paving the way for the largest construction wave in history.

Bechtel teams are meeting this moment.

In 2023, projects we partnered on drove economic growth, supported the energy transition, fortified supply chains for critical materials and technologies, enabled cleaner and more efficient transportation, protected the environment, and supported national defense missions.

In the decades ahead, efforts such as these will determine the world’s ability to create a net-zero energy economy, provide quality of life and economic opportunity for billions more people, satisfy exponential growth in demand for AI and data, and expand access to clean air and water. They will build resilience against severe disruptions, from climate events and pandemics to geopolitical conﬂicts, and ensure global peace and stability in the face of evolving threats.

We welcome these challenges both as a responsibility and an opportunity to partner with our customers in building a more sustainable and prosperous world.

Three smiling workers in safety gear in Riyadh.

Extraordinary Teams

Our ultimate differentiator is the quality of our people — from our skilled craft professionals to our engineers and project managers. We excel at fielding A-teams whose skills and expertise are tailor-fit to each project’s specific demands.

Recruiting, developing, challenging, empowering, and rewarding the best talent in the industry is our most important investment in the future. This includes relentlessly pursuing safety, building workplaces with a sense of belonging, and serving the needs and priorities of our frontline craft professionals. We believe that the companies that get these essentials right will be those that lead the industry.

Last year, we added nearly 19,000 new colleagues across the enterprise. We’re focused on bringing the next generation of skilled craft professionals into the industry, partnering with local communities and building industry-leading training and apprenticeship programs.

Aerial view of Corpus Christi Liquefied Natural Gas facility.

Adapting, Innovating, and Defining Excellence

Throughout our history, Bechtel has continuously evolved — innovating, adapting, and setting standards of excellence to lead our industry as we apply our unique capabilities to delivering our customers’ most critical and complex projects.

More than ever before, we are integrating services across our diverse business lines to provide comprehensive and innovative solutions tailored specifically to our customers' needs. Our early collaboration with customers in project development allows us to explore all technical, commercial, and financial options to find the best solutions, reduce complexities, and streamline delivery.

We meet customers where they are, bringing as-needed solutions that can range from select enhancements to existing operations to wholly reimagined approaches to their challenges. We can offer customers unique options to help ensure certainty of outcome by leveraging vertically integrated work streams, proprietary digital tools and data, and in-house supply chains for vital components. Increasingly, we are also capturing opportunities to reduce cycle times on repeatable work, giving us the ability to amplify incremental improvements and increase overall productivity.

Together with our proven processes and project management strategies, these capabilities create value measured not only in cost and schedule but also in projects that perform as promised or better when customers begin operations.

A diverse group of construction workers standing around in a circle

Earning Trust, Building for the Long Term

Our definition of success is never just about delivering a project. It’s about aligning with our customers' vision and supporting them in achieving it over the long term.

In everything we do, our approach is anchored in our belief that the most important asset we ever build is trust. Trust is earned through transparency, reliability, and unwavering dedication to meeting our commitments. This includes choosing projects selectively to ensure we avoid overextending our resources and maintain the high quality of our teams across everything we do.

In our experience, a “One Team” mindset — where collaboration and shared goals drive every aspect of our work — is the greatest predictor of success on any project. It is this mentality that fosters the deep, long-term customer relationships we value and invest in.

Tomorrow is Ours to Build

Bechtel’s values reflect our drive: "We live for a challenge." Our people thrive on purpose, impact, and the chance to make a meaningful difference. The projects we are delivering have never been more crucial, and we are confident that our teams’ commitment to collaboration, innovation, and forging lasting partnerships with our customers will be the cornerstone of our continued growth and shared success.

Thank you for your interest in Bechtel. Thank you especially to our customers for the privilege of being your partner and to the tens of thousands of Bechtel colleagues whose talent and dedication make our success possible. We look forward to sharing our continued progress.

Sincerely,

Brendan Bechtel Chairman & Chief Executive Officer

Craig Albert President and Chief Operating Officer

Our Financial Results

In 2023, we completed landmark projects and achieved major milestones across the full span of our business. We are proud to highlight many of these in this year’s report.

Additionally, we are proud to share that in 2023, customers awarded us more new work than in any other year over the past decade.

Total Managed Revenue

Total Principal Revenue

New Work Booked

Total Backlog Revenue

Tomorrow
is Ours
to Build