PHILADELPHIA—The astonishing toll of overrunning costs and schedules on major engineering and construction projects worldwide is laid bare in an analysis of claims and disputes published recently by HKA.

CRUX Insight 2020 is the product of investigations into more than 1,100 projects across 88 countries by HKA, construction and engineering industry specialists in consulting, expert and advisory services.

NEW JERSEY (Nov. 6, 2020)—The Dodge Momentum Index fell 1.8% in October to 127.5 from the revised September reading of 129.8. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.

NATIONAL—Skanska released a ninth-month report recording results from January through September 2020. The Swedish construction firm reported a decline in third-quarter profits of 29%, a number which beat earlier analyst expectations for the quarter. The company recorded an operating profit of $174.3 million, or 1.53 billion Swedish krona.

WASHINGTON (November 3, 2020)—Commercial and multifamily mortgage loan originations were 47% lower in the third quarter compared to a year ago, and increased 12% from the second quarter of 2020, according to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.

LOS ANGELES—Tutor Perini Corporation reported results for the third quarter of 2020. Revenue was $1.4 billion, the highest revenue of any quarter in more than 10 years and up 21% compared to $1.2 billion for the third quarter of last year. The company experienced double-digit revenue growth across all segments with only an immaterial impact from the COVID-19 pandemic in the third quarter of 2020.

Single-family starts showed continued growth in September as overall housing production increased 1.9% to a seasonally adjusted annual rate of 1.42 million units, according to a report from the United States Department of Housing and Urban Development and the U.S. Census Bureau.

Long Beach, California—Hino Trucks announced, Project Z, the company’s development path to zero emissions vehicles (ZEV), ranging from class 4 to class 8. 

The ZEV products ranged from a class 5 on a SEA Electric SEA-Drive 120a on a Hino M5 chassis, up to a Hino XL Series class 8 tractor powered by Toyota’s Fuel Cell system (see Toyota/Hino joint press release for more detail).