March 30 Coronavirus Survey: Revenue Changes

by Paul Deffenbaugh | 6 April 2020 12:00 am

We conducted the first survey from Monday, March 30 through Thursday, April 2, and 336 people responded. We broke our report into four areas:

• Audience characteristics
• Overall attitude
• Revenue changes
• Project and employee changes

The Revenue Changes section is below. Follow links on the sidebar to see the other sections.

We plan to do this survey every other week. If you have questions or would like to provide feedback, please contact Paul Deffenbaugh, editorial director, pdeffenbaugh@moderntrade.com[15]

Revenue Changes

To see revenue changes from the April 13 survey, click here[16].

(Note: Enlarge images when possible to read an explanation.)

We asked contractors to compare 2020 first quarter revenue to 2019 first quarter revenue (top bar). It is apparent that about half of the contractors saw increased revenues while half saw declining revenues. In fact, 22.2% had revenue increases of greater than 10%. That outlook shifted dramatically with the onset of the economic downturn as a result of the coronavirus pandemic.

The bottom bar compares first quarter revenue from this year to second quarter projections. At this point, slightly more than a quarter expect increased revenues. Given that the first quarter is often plagued by poor weather and slow starts, and the second quarter includes part of the peak building season, it’s clear that contractors anticipate a significant downturn. Perhaps it’s surprising that still more than 25% of respondents are forecasting increased revenues.

---

Looking at annual revenue projections, you can see contractors have revised them downward significantly. 26.1% indicate they have lowered 2020 revenue projects more than 10%. Still, about 20% of our contractor audience anticipates 2020 will continue to be a year of revenue growth, although a very slim few (1.8%) expect growth greater than 10%.

---

Source URL: https://www.metalconstructionnews.com/articles/coronavirus-survey-revenue-changes/

---