Skanska has set a new company record for order intake in two consecutive quarters, with the Swedish construction giant booking 68 billion Swedish krona ($6.94 billion USD) in new contracts in the third quarter of 2026. The figure matched its second-quarter high, according to the company’s earnings report.
The strongest growth came from data centers and semiconductor facilities, which accounted for 22.7 billion krona, about a third of the total, while U.S. projects alone represented 46.9 billion krona, or roughly 70% of the quarter’s new work. CEO Anders Danielsson said the company plans to expand its U.S. operations, particularly in civil infrastructure in states like Florida, Utah, and Arizona, where it already has a presence in commercial construction.
Skanska’s success reflects broader trends in U.S. construction, where data centers and infrastructure remain the fastest-growing sectors. The company’s strategy relies on selective bidding, prioritizing projects where it has existing relationships, local expertise, and reliable subcontractors, particularly for data center builds. Danielsson noted that Skanska rejects contracts where it lacks the necessary partnerships, especially for specialized trades like electrical work.
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Despite political shifts in Washington following the midterm elections, Danielsson said Skanska expects stability in its core sectors. The company has operated in the U.S. for over 50 years across administrations and congressional majorities, and he emphasized that infrastructure funding remains a consistent priority. While the Build America 250 Act is still under discussion, Congress recently extended the Infrastructure Investment and Jobs Act through December 11, ensuring continued funding for traditional projects.
Data center development faces a different challenge: local opposition. Municipalities across the U.S. are increasingly imposing moratoriums on new facilities, forcing developers to handle political hurdles at the state and city level. Skanska’s clients are working to secure permits by positioning projects as sustainable, though Danielsson acknowledged that local political support remains a critical factor.
Skanska’s financial performance improved alongside its record order intake. The company reported 2.1 billion krona in operating income for the quarter, up 52% year-over-year, with construction contributing 2.3 billion krona, a 29.2% increase. The overall figure was reduced by 369 million krona in impairment charges for its residential development segment. The strong backlog grew to 328.3 billion krona, reinforcing the company’s position as a leader in high-demand construction sectors.
