Now that 2022 has come to a close, the construction and surety marketplace continues to remain active. The market has seen an up-tick in investment in residential, commercial, data storage and large distribution fulfillment center production.
In 2022, contractors struggled to keep up with labor pricing pressures and general materials input that was necessary to perform on contracts. Despite this, production levels were up, margins were relatively favorable, and financial results should demonstrate positive net results.
2023 will likely continue to be a strong year for the construction market, as backlogs are generally very strong and middle market contractors have operating plans in place to address fundamental issues, such as employee retention, material price fluctuations, and balance sheet improvement from COVID relief programs, i.e. Payroll Protection Plan and Employee Retention Credit programs.
The Tuesday, March 28 NASBP Virtual Seminar “Building for the Future: A Construction Economic Update and Outlook for 2023” will provide insights on what surety professionals will likely see from their contractor clients’ 2022 financial reporting and will discuss possible hot spots that need to be addressed. The presenters will also discuss what may happen in the world of construction and the U.S. economy in 2023 with rising interest rates, recession fears, geopolitical concerns, and more.
This NASBP Virtual Seminar will be presented by:
Todd A. Feuerman, CPA, CCA, MBA, is a director in the audit and accounting department of Ellin & Tucker. His expertise ranges from succession planning, financial modeling and forecasting, mergers and acquisitions, and debt structuring.
Christopher W. Oven, MBA, is a Principal with Ellin & Tucker and leader of the firm’s Corporate Finance Group. As a business consultant in the firm with over 20 years of banking experience, Oven guides clients in the business advisory and corporate finance needs.
Cazmier Tymoch, CFA, ABV, ASA, is a supervisor with Ellin & Tucker and a member of the firm’s Corporate Finance Group.
Feuerman wrote an article for NASBP Surety Bond Quarterly titled "A Successful Succession Plan Starts with a Strong Surety Partnership" and two NASBP Blog posts, “Surety’s Future Beams Brightest on the Most Prepared Contractors” and “Construction Financial Accounting Expert on 2023: The Boom Continues.” Feuerman has also been a guest on two episode of NASBP Podcast “Let’s Get Surety,” episode 55 “Assuredness in Today’s Construction Surety Market” and episode 72 “Strange Economic Times: A Construction Industry Outlook.”
Consider saving by registering for the 2023 NASBP Virtual Seminar Annual Subscription, which includes the entire set of Virtual Seminars for 2023 and access to the complete library of Virtual Seminars. The cost, $999 for NASBP Members, Affiliates, and Associates, is almost half of what you would pay if you purchased each 2023 NASBP Virtual Seminar individually.
This NASBP Virtual Seminar is sponsored by Old Republic Surety.
Register for the March 28 NASBP Virtual Seminar today!