Comparing the current results to its competitors, Goldfield reported Revenue increase in the 3 quarter 2020 by 8.25 % year on year, while most of its competitors have experienced contraction in revenues by -3.38 %, achieved in the same quarter.
Goldfield CorpNet Income in the 3 quarter 2020 fell year on year by -6.05%, while most of its competitors have experienced a contraction in net income by -4.22 %.
Goldfield's Comment on Competitors and Industry Peers
The electrical construction business is highly competitive. We compete with other
independent contractors, including larger regional and national firms that may
have financial, operational, technical and marketing resources that exceed our
own. Competitive factors include: level of technical expertise and experience,
industry reputation, quality of work, price, geographic presence, dependability,
availability of skilled personnel, worker safety and financial stability. Our
management believes that we compete favorably with our competitors on the basis
of these factors. There can be no assurance, however, that our competitors will
not develop the expertise, experience and resources to provide services that are
superior in both price and quality to our services, or that we will be able to
maintain or enhance our competitive position.
We are subject to various federal, state and local statutes and rules regarding,
among other things, contractor licensing, electrical codes, worker safety and
environmental protection. We believe that we are in substantial compliance with
all applicable regulatory requirements.