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ANDERSEN CONSTRUCTION — CONSOLIDATED FINANCIALS
Sources: SLT Meeting Financial Update (07-08-26), 2026 WA Rate Card,
ESOP Worksheet, Bond Cost Calculator (Class B, rev 2017)
DOWNLOAD CONTAINS REST OF DUMP
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[P&L — COMPANY]
2025 ACTUAL ………. Revenue $615.3M | Net Income $6.4M (reset year)
2026 BUDGET ………. Revenue $1,061.7M | Net Income $12.3–14.3M (original plan)
2026 FORECAST …….. Revenue $930.7M | Net Income $11.1–12.1M (−$1.2 to −2.2M vs budget)
2028 TARGET ………. Revenue $1,350M | Net Income $30M+ (ideal state)
BACKLOG ………….. $3.0B total ($2.7B contracted)
2027 EARLY LOOK …… SVH revenue $1,116M (+20% vs 2026F $931M); assumes Chehalis does not start
[NET INCOME BRIDGE — 2026 budget 12.3 → forecast 11.1]
Seattle fees −5.1 | Portland +0.8 | Boise +1.0 | Eugene +0.4 | OX Concrete −1.3
Fought/SDS/SYLO/BLS −0.1 | Overhead contingency −1.4 | TOTAL −1.2
Drivers: Chehalis Casino job slide −$3.1M | SPD hard-bid losses −$0.8M
Juniper close-out/other −$0.7M | T-Mobile job slide −$0.5M
Upside: Kaiser/other +$1.2M | Genentech Dolphin %complete +0.6M | U of Acoustics Lab +0.3M
OH LABOR: $36.7M actual vs $35.5M plan (103%) — Seattle 111%, OX 158% outliers
Seattle forecast $192M vs $321M budget (−$129M); SVH $1.2M below NI budget
[RISKS] Providence St. Vincent (conservative case accounted) · Benson Claim Negotiations
(active) · 800 Columbia Fee Neg. (ongoing) · Boardwalk Negotiations (active) · OX Concrete
(go-get dependency) · Fought Pivot (steel→outsource)
[OPPORTUNITIES] Projects not started (Boise) · Benson claim settlement upside · PDX T-Mobile
fees + Providence clawback · SDI on new 2026 projects · Portland SPD quick-hitters · Fought
claims: Abernathy + Stride Mass Transit
[INCOME ALLOCATION]
2025 ($6.4M NI): 15% retirement $1.6M | Bonus Pool A $4.8M | 1% ROE & taxes $7.0M
2026F ($11.1M NI): retirement $1.8M | Bonus A $4.8M | 8% ROE & taxes $7.3M | Bonus B + $4.5M addl RE
[HISTORICAL NET INCOME FOR ALLOCATION ($M)]
2008 5.3 · 2009 1.4 · 2010 1.6 · 2011 0.4 · 2012 0.9 · 2013 4.2 · 2014 6.5 · 2015 5.5
2016 7.5 · 2017 10.5 · 2018 18.8 · 2019 16.0 · 2020 6.4 · 2021 11.1 · 2022 −3.5 · 2023 4.0
2024 10.2 · 2025 14.2?? · 2026F 6.4→11.1 [ESOP years marked]
REVENUE ($M): 2008 316 → 2016 582 → 2019 707 → 2021 1,006 → 2022 996 → 2024 735 →
2025 640 → 2026F 931
INVESTMENT AS % OF REVENUE: 2008 3.3% · 2012 3.0% · 2014 4.4% · 2019 4.0% · 2020 5.8% ·
2021 5.6% · 2022 5.3% · 2023 5.1% · 2024 5.8% · 2025 2.3% · 2026F 5.6%
[MARKET OUTLOOKS 2026F / 2027 / 2028 ($M) + share + key starts]
SVH ………. 931 / 1,116 / 702 · backlog $2.7B · Micron Base Build $9M (65%), Records
Brighton $7M (35%), SPD $4M, Pacific Co-McDermott $3M (30%), CCDC Elevator $2M (75%)
PORTLAND ….. 550 / 357 / +133.7% · ~13-16% of $2.3B metro · OHSU Doernbecher precon $1.3M
SEATTLE …… 178 / 139 · 2-3% of $8B+ metro · SPD pursuits $10M
BOISE …….. 184 / 240 (+107.8%) · 14-18% of $1.1-1.3B metro
EUGENE ……. 80 / 77 · 12-16% of $500-700M metro · SPD misc $4M
FOUGHT/REFA .. US395 Sprague-Spokane $19M · St. Als $11M · Vincent Thomas Bridge $8M · various $7M
OX CONCRETE .. $5M 2026 (go-get); internal jobs ~$26M 2027, ~$63M 2028
SDS (self-perf) 6 / 8 / 9 (+21.4%/+30.2%) · BLS 6.0 / 8.6 (+42.9%)
[RETIREMENT PLAN]
Annual returns: 2013 16.5% · 2014 3.7 · 2015 7.2 · 2016 11.9 · 2017 19.1 · 2018 15.0
2019 14.7 · 2020 11.7 · 2021 12.4 · 2022 −15.8 · 2023 6.1 · 2024 10.4 · 2025 11.7
Annualized YE Dec-2025: 3yr 12.93% · 5yr 6.87% · 10yr 7.99%
YTD 2026 monthly (vs S&P | Bloomberg Agg): Jan +1.26 (1.45|0.11) · Feb +1.12 (−0.76|1.64) ·
Mar −4.09 (−4.98|−1.76) · Apr +5.18 (10.49|0.11) · May +2.67 (5.26|0.31)
Managers: Quest Investment Management LLC + Ferguson Wellman (consolidated account)
[ESOP]
SHARE PRICE (FMV): 2023 $57.05 → 2024 $60.21 (+5.5%) → 2025 $62.08 (+3.1%)
WORKSHEET PRICE: $72.55/share
TRUST OWNERSHIP (of 1,027,000 shares): 2024 32,777 (3.2%) · 2025 58,552 (5.7%) ·
2025 expected 84,329 (8.2%) — increased dividend share
WORKSHEET MECHANICS: 15% retirement contribution; split PST 9.78% / ESOP 5.22%;
example: $75,000 comp → $11,250 → ESOP $3,915 → 53.96 shares; first-year trust 25,775
shares; total dividend $37,400; example employee share $78.30
[2026 WASHINGTON FIELD RATES — effective 1/1/26–12/31/26 (cost/sell, 3 tiers)]
Carpenters: C60 62.44/86.11/110.08 · C65 76.18/101.79/127.76 · C70 80.20/107.78/135.32 ·
C75 84.21/113.78/142.88 · C80 88.23/119.77/150.43 · C85 92.24/125.76/157.99 ·
C90 96.26/131.54/165.54 · C95 100.27/137.21/173.10 · C101/C102 104.29/142.88/180.66 ·
C210 Foreman 117.33/159.96/202.39 · C265 Millwright Fmn 111.05/151.10/190.58 ·
C275 Gen Fmn 121.42/165.75/210.10
Laborers: L60 59.16/77.75/96.63 · L70 65.61/87.32/109.34 · L80 72.07/96.89/122.06 ·
L85 75.29/101.67/128.25 · L90 78.52/106.46/134.27 · L95 81.75/111.24/140.28 ·
L101 66.64/88.85/111.37 · L102 77.49/104.93/132.35 · L103 84.97/116.03/146.30 ·
L104 86.43/118.19/149.02 · L105 87.45/119.69/150.91 · L210 94.69/128.90/161.68 ·
L300 99.26/135.32/170.21
Cement Masons: M60 71.64/92.75/114.21 · M65 75.31/98.19/121.43 · M70 78.98/103.63/128.66 ·
M80 86.31/114.50/142.54 · M90 93.65/125.38/156.22 · M95 97.32/130.82/163.05 ·
M101 100.94/136.03/169.84 · M102 101.58/136.93/171.04 · M210 113.04/151.76/189.73 ·
M220 116.77/157.00/196.69
Operators: O265 83.01/107.15/131.69 · O370 86.88/112.89/139.23 · O275 90.75/118.63/146.45 ·
O580 94.63/124.38/153.66 · O590 102.37/135.86/168.10 · O595 106.24/141.40/175.32 ·
O104 105.21/139.95/173.39 · O103 110.12/146.84/182.54 · O102 110.99/148.06/184.16 ·
O101 112.00/149.48/186.05 · OIA 117.99/156.61/194.49 · OIAA 119.16/158.26/196.69 ·
OAAA 120.35/159.93/198.90
OT/DT (STRAIGHT | 1.5x | 2x): Mason Appr1 98/…/…; Mason Appr2 88/131/164 · Mason Jm 112/…/211 ·
Mason Fmn 121/150/200 · Carpenter Appr1 72/104/129 · Appr2 80/114/143 · Jm 105/143/181 ·
Fmn 117/157/187 · Labor Appr1 82/121/166 · Appr2 85/137/176 · Jm 106/138/172 ·
Operator Appr 100/142/197 · Operator Jm 143/…/… · Operating Fmn 150/160/… (approx as extracted)
[BOND COSTS — Payment & Performance, Class B (not design/build), rate per $1M]
1st $100K @ 9.9 · next $400K @ 7.7 · next $2M @ 6.88 · next $2.5M @ 5.78 ·
next $2.5M @ 5.23 · over $7.5M @ 4.62
[LICENSES] OR 218297 · WA ANDERCCS24WW · ID RCE-46335
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- Group: vortex
- Discovered: 2026-11-09 21:54 UTC
This entry reflects a claim published by an extortion group and collected by a public tracker. It has not been independently verified.
Source: RansomLook — Recent Posts · 2026-11-09