What happens when a business consistently tells Wall Street it is going to construct a specific amount of capital improvements each year but consistently misses? And what happens when any type of owner organization must react quickly to changes in regulations by replacing a significant amount of its asset base but can’t?
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In the immortal words of Led Zeppelin, the overall utility construction market has seen both good and bad times. The current market is perhaps the best in 60 years, and many utility contractors are expressing their optimism that this market will continue for some time. The optimism is particularly strong in the distribution and transmission pipeline construction markets, which are exceptionally healthy, while electric distribution is also expected to yield growth. Water and sewer are least attractive, and telecom, while positive, is not as robust as other markets. As a side note, Continuum is more bullish in the 2- to 4-year prospects of the telecom market.