The utility transmission, and distribution and communication industry had a strong 2018, but with more mixed results than anticipated this time last year. Investor-owned utilities remain in a multiyear investment cycle driven by the need to repair, replace and upgrade the transmission and distribution infrastructure across the United States. The aging investor-owned utility construction and repair workforce has increased the revenue of utility contractors, which are now the primary service providers. However, the construction of fiber networks to meet the growing demand for broadband service has lagged in some parts of the country, as engineering limited construction expectations. Additionally, the infrastructure investment expected from Congress did not materialize. We enter 2019 with both high expectations and new challenges to similar growth.
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