Welcome to the 28th edition of The ESOP Builder – an internal publication only for the employees of JE Dunn Construction. This is our first edition in this digital, interactive format. Our goal remains to keep everyone informed about the Employee Stock Ownership Plan and how the program impacts you as an employee-owner of JE Dunn. This edition of ESOP Builder includes a spotlight on the Applied Underwriters project in Omaha, a closer look at JE Dunn Capital Partners, a feature on one of our Houston employee-owners, and more. A complete set of all ESOP information can be found on Connect. If you have ESOP questions that you cannot find answers to, please direct them to Anne Wright. We are always looking for suggestions for The ESOP Builder content and ways to improve this publication. Please send feedback and ideas to Keli Schneider.
Construction revenue for the first four months of 2023 was approximately $1.92 billion, compared to the first four months of 2022 of $1.6 billion and a plan of $1.98 billion. Our gross profit percentage for the first four months of 2023 was 4.64 percent, compared to 4.77 percent for the first four months of 2022 and a planned gross profit percentage of 4.62 percent for the same period. Earnings before taxes as a percentage of construction revenue for the first four months of 2023 is 4.16 percent, compared to the first four months of 2022 of 1.90 percent and plan of 3.76 percent. The increase in 2023 and plan compared to 2022 is primarily due to a large, realized gain on an investment in our captive insurance company, William Henry Insurance. As we look out over the remainder of 2023, construction revenue is holding steady at $6.7 billion. Having a consistent focus on KSI #6: Operational Excellence throughout the remainder of the year will translate to a successful year. The following chart reflects the shares of stock owned by the ESOP since 2015. Click here to view. Also, as mentioned in our all-company meeting, JE Dunn has a new tool to replace the Excel-based model to analyze your ESOP over time. To check it out, click the Power BI tile from the Connect homepage. From there, go to the Power BI homepage > All Company > ESOP Calculator.
New employee owner polos and stock certifications are distributed.
ESOP Builder distribution. Read a letter from the CFO, enjoy employee owner spotlights, and learn other valuable ESOP insights.
To me, being an employee-owner requires not only a dedication to your work, but also a commitment to the success of your teammates. The Southwest office has built a culture where we work together to drive operational excellence and hold each other accountable. As we work towards a common goal, we not only benefit personally but also contribute to the growth and success of the company as a whole, creating a win-win situation for everyone involved.
Studies have shown that ESOP participants have almost three times the retirement assets as workers in comparable non-ESOP companies.
Employees at ESOP companies receive 5-12 percent more in wages.
Manufacturing, Engineering, Construction, and Banking are the most common industries with ESOPs.
