Minneapolis-based contractor Mortenson has climbed five spots to rank 22nd among the nation’s top contractors, reporting $6.7 billion in 2024 revenue. CEO Derek Cunz credits the company’s steady rise to careful planning and a commitment to staying the course, even when market conditions shift.

Cunz, who stepped into the CEO role on Jan. 1, emphasized that Mortenson’s growth stems from its focus on investing for the long term and diversifying its business. “I think when I look at what we experienced last year and where the company’s going today, it is 100% because of a long-term view of our business strategy,” said Cunz.

That approach includes launching new divisions like its data center fiber optics and structured cabling business, while continuing to hire aggressively — 300 new college graduates and 300 interns are joining the firm this year.

Mortenson’s wind energy division is another example of patience paying off. “We’ve been in the wind business for 30 years, and 30 years ago it was very fringe... But it’s emerged as a very viable, cost-effective and competitive way to generate energy,” Cunz said.

As for the challenges ahead, Cunz remains cautious about market volatility and policy shifts that can stall investments. “Uncertainty breeds a slowdown in investment,” he noted.

Yet, he believes Mortenson is well positioned to adapt to rapid technological shifts, including AI-driven demand for more data center construction. “The pace of change is going to increase and change is going to happen. And I’d say that’s something we’re built for as an organization,” Cunz said.

Mortenson’s focus on talent development includes strategic partnerships with universities and a robust internship pipeline designed to feed its workforce of the future. Beyond wind and data centers, the company continues to look for emerging sectors that align with its sustainability goals and core expertise.

“We’re constantly looking downstream and thinking about where things are going,” Cunz said. “That means being ready for technologies like AI but also staying committed to sectors that need patient investment.”

Even with the challenges posed by trade policy uncertainty and fluctuating supply chains, Mortenson’s leadership remains confident that its commitment to proactive planning will keep the company on a strong trajectory.

Originally reported by Zachary Phillips in Construction Dive.