Skanska Stock Price, News & Analysis

Skanska has secured a USD 155 million (approximately SEK 1.6 billion) contract with an existing client to construct a data center in Arizona, USA.

The project, which comprises a single-story data center spanning about 244,000 square feet (approx. 22,700 square meters), will be incorporated into Skanska's US order bookings for Q2 2024.

The construction is already underway and is projected to be completed by the second quarter of 2025.

Skanska has signed a $49 million contract with the Metropolitan Atlanta Rapid Transit Authority (MARTA) to deconstruct and rebuild the Five Points Station canopy in Atlanta, Georgia. This project, equating to about SEK 500 million, will be recognized in the second quarter of 2024. The scope includes dismantling the pre-stressed concrete canopy and demolishing the plaza to make way for a new mass timber, open-concept canopy with enhanced pedestrian entrances. Five Points Station is the largest and busiest in the MARTA system, serving as a key hub for all rail lines and multiple bus routes in Atlanta. The deconstruction is set to begin in July 2024 and is expected to conclude in 2026.

Skanska has sold the Hørkær Have rental project in Herlev, Denmark, for DKK 737 million (approximately SEK 1.1 billion) to NREP. The transaction is recorded in the second quarter of 2024, with project completion expected in June 2025. The development spans 22,720 square meters and includes 264 rental apartments and parking spaces, featuring electric car charging stations. Additionally, a green garden and community building are planned, supporting biodiversity and offering tenant amenities. The first apartments will be available by December 2024, with the entire project pre-certified at DGNB Gold level.

Skanska has appointed Clay Haden as the new Business Unit President for Skanska USA Building, succeeding Paul Hewins, effective June 1, 2024. Haden, with over 14 years of experience at Skanska, will oversee the overall performance of the business unit, focusing on strategy, safety, financial performance, and culture development. He will report directly to Skanska Group Executive Vice President Richard Kennedy. Haden's extensive background includes roles as General Counsel and Chief Administrative Officer, making him well-equipped to lead the company into the future.

Skanska and joint venture partner B. Bell Builders have secured a USD 48M contract to construct a new building at Rice University in Houston, Texas, USA. The project, worth about SEK 500M, includes classrooms, office spaces, meeting areas, and a large event space. Construction is set to begin in May 2024 and finish by February 2026.

Skanska has secured a USD 150M supplemental award to build a data center in Arizona, USA, totaling about SEK 1.6 billion. The project includes a single-story data center spanning 22,700 square meters, with completion expected in Q2 2025.

Skanska reported strong financial results for the first quarter of 2024, with revenue reaching SEK 36.4 billion and operating income at SEK 0.5 billion. Adjusted for currency effects, revenue increased by 5 percent. Earnings per share stood at SEK 1.28. Order bookings in Construction surged to SEK 46.9 billion, representing an 83 percent increase quarter on quarter. The company achieved a historic high order backlog, resulting in a promising outlook for future growth.

Skanska has secured a contract to build a data center in Georgia, USA, valued at USD 238M (SEK 2.5 billion). The project includes constructing a 22,700 square-meter data center, associated site work, and underground utilities. The work is set to commence in June 2024 and finish by May 2026.