Kansas Asphalt: Why we’re bullish on 2020

February 20, 2020
Kansas Asphalt: Why we’re bullish on 2020

Heading into the new year, a Commercial Construction Index survey showed more than 50 percent of contractors were confident 2020 would “provide the necessary business opportunities to yield another strong year.” At Kansas Asphalt, we share this optimism.

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In 2019, we enjoyed healthy growth, but our optimism is not based solely on our overall revenue growth last year. Rather, it is based in large part on the fact we saw growth across several different targeted industry segments we have long served. The combination of overall growth and health across industry segments bodes well for the coming months.

“Although retail still remains the industry leader for parking lot remediation for Kansas Asphalt, transportation and healthcare are quickly building markets with an abundance of opportunities seized in 2019,” Kansas Asphalt Construction Management Executive Vice President Pam Peckinpaugh said.

A quick review of a few of the top-line numbers from 2019 supports our bullish outlook for 2020:

  1. Year-over-year total revenue increased 39 percent across our top six industry segments (food service, healthcare, manufacturing, real estate, retail, and transportation).
  2. Year-over-year revenue more than doubled in the healthcare segment in 2019.
  3. Retail, which represents by far our largest segment, continued to show significant growth in 2019. Revenue increased 50.7 percent in that segment.
  4. And bucking an overall market trend, Kansas Asphalt also enjoyed growth in the food service segment.

“Although market trends showed a slight decline in food service brick and mortar locations in 2019, we experienced no such slow down within this industry,” Peckinpaugh said. “Food service revenue represented more than 7 percent of our company’s total 2019 revenue, an increase of two percentage points even as we saw growth across other segments."

Macro-economic forces and trends, of course, can and do change. Like all contractors, Kansas Asphalt is subject to those changes. We remain confident that the unparalleled service and value we deliver across a diverse mix of industry segments, markets, and localities has positioned us for continued growth.

Indeed, from the Carolinas and Atlanta, to Ohio to Texas, the Midwest and California, Kansas Asphalt is in growth mode.

 

Featured Project

Distribution Center needs a new surface

After a concrete lot's total failure, Kansas Asphalt conducted a full assessment and developed a program to replace the surface and sub-grade over two years. The result was a new lot for this busy center, without interruption to business.

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"Kansas Asphalt has been one of the best companies that I have used in the Southeast U.S. for remediating lot surfaces – asphalt, concrete and limestone."

Regional Facility Specialist
Little Rock, AR
International Bottling Company

 

Featured Project

Busy retail store needs a new lot

Kansas Asphalt led the way for the construction management of the asphalt and concrete spaces on this busy lot and the business stayed open during the remodel of the lot. Kansas Asphalt worked for both the client and the third-party engineering firm in coordinating the schedule, activites, and great execution.

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"This was a complex project, but it was easy working with Kansas Asphalt.”

Engineering Lead
Kalispell, MT
Large Engineering Firm

 

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A log deck needs to improve water quality

Kansas Asphalt installed an asphalt plant on site, and organized a program to pave the 17-acre log deck over three years.

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“Kansas Asphalt has been great to work with, consistently adhering to specs and timeframes as well as navigating any problems that we encounter on our projects.”

Vice President of Forestry Services
Large Timber Company

 

Featured Project

Keeping the water out

A hospital customer was experiencing continual water intrusion at one of their city campus locations in an area enjoyed by staff and visitors alike. Kansas Asphalt was able to identify and resolve the problem.  

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"I know when I work with Kansas Asphalt the project will go smoothly."

Head of Real Estate
Large Hospital System

What We Do

Our capabilities to support parking lots are wide and deep. Whether you need a surface treatment, a full replacement or an expert to help with your project, we have a solution.

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