Skanska AB said it has won an $84 million contract from an existing client to build a data center campus in Georgia, United States, a new order that will support the company’s forward backlog. The work is scheduled to start in November and is expected to run through the third quarter of 2028, with the revenue recognized in US order bookings for the third quarter of 2026.
Skanska shares closed Monday at SEK 273.20 on the Stockholm Stock Exchange, up 1.22%, as investors assessed the latest pipeline of large-scale infrastructure projects tied to growing data center demand.
Key takeaways
- Price move: Skanska shares ended the prior session at SEK 273.20, up 1.22%.
- Catalyst: The company announced an $84 million data center contract in Georgia.
- Scope: The project includes construction of about 22,700 square meters with five colocation data halls and administrative space.
- Timeline: Work begins in November and is expected to complete in the third quarter of 2028.
- Implication: The contract will be booked in the third quarter of 2026 within US order bookings, providing visibility into future earnings potential tied to US data center buildouts.
What Skanska says the contract covers
According to Skanska, the deal involves the construction of a data center facility in Georgia designed to support 48 MW of capacity. The project footprint is approximately 22,700 square meters and includes five colocation data halls, along with administrative space.
The contract is described as being awarded by an existing client, a detail that can matter for project execution given that repeat customers may provide clearer requirements and established working relationships.
Timing and backlog impact
The company said the contract will be recorded under US order bookings for the third quarter of 2026. Skanska also indicated that on-the-ground activity is slated to start in November and continue until completion in the third quarter of 2028.
For investors, the key issue is how quickly the award translates into commercial progress and cash flow. While the order will be booked in 2026, the multi-year construction schedule means revenue recognition and margin realization will be spread across subsequent periods as installation and construction phases progress.
Why data center deals are drawing attention
Data centers have remained a focus area for many construction and engineering companies as cloud computing, enterprise digitalization, and AI-related compute demand continue to drive capacity buildouts. For Skanska, a contract of this size adds to exposure to a segment where spending plans in the US have supported sustained demand for large, power-intensive facilities.
The project’s specified 48 MW capacity and multiple colocation halls suggest it is designed for scalable tenancy—an attribute that can align the facility with shifting customer needs over time. That, in turn, may be important for risk profiles tied to occupancy and client onboarding, although Skanska did not provide additional details on customer commitments beyond the stated contract scope.
Market reaction and what to watch next
Skanska shares finished the prior session higher, up 1.22%, after the company shared details of the Georgia award. The positive move suggests investors viewed the announcement as incremental support for the company’s order pipeline, particularly in a market segment that remains in demand.
Next, investors will likely look for updates on project execution milestones, including early-stage procurement progress and any further contract awards that could strengthen backlog visibility beyond the US order bookings timing. With the contract booked for the third quarter of 2026, the market may also watch for how Skanska balances large commitments with cost controls and delivery schedules as data center construction projects can be sensitive to input costs, power infrastructure planning, and permitting timelines.
Skanska did not provide additional guidance alongside the announcement. Investors may look to upcoming company reporting for commentary on backlog trends and regional performance, as well as broader macro developments that can influence construction activity, such as interest-rate expectations and funding conditions in the US.
