Tutor Perini Stock Price, News & Analysis

Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Fisk Electric Company, has secured an electrical services contract for the Cook Children's Medical Center West Tower project in Fort Worth, Texas. The project scope encompasses electrical system design and installation for multiple facilities:

- A 763,000-square-foot hospital tower
- South utility plant expansion with 10,000 kW generation capacity
- 305,000-square-foot garage with data center
- 25,000-square-foot child daycare center

Work has already begun with completion expected in September 2030. The contract value, while undisclosed, has been added to TPC's Q1 2025 backlog.

Fisk Electric, a subsidiary of Tutor Perini Corporation, has secured a $99 million contract for the second phase of the new Harris Health hospital project in Houston, Texas. This phase is part of a larger $166 million guaranteed maximum price contract for electrical services.

The project involves constructing a new 14-story hospital tower at the Lyndon B. Johnson Hospital campus. Fisk's work scope includes electrical and fire alarm components for both core and shell and tenant finish-out. The first phase began in Q4 2024, with the second phase starting in March 2025. Project completion is expected in Q4 2028.

The new facility will become Harris County's third Level I trauma center, featuring:

• 1.3 million square feet of space
• 390 private rooms (expandable by 60)
• 15 dedicated operating rooms
• A cutting-edge hybrid operating room
• Rooftop helipad

Tutor Perini (NYSE: TPC), a leading civil, building and specialty construction company, has scheduled its first quarter 2025 earnings conference call for Wednesday, May 7, 2025, at 2:00 PM Pacific Time.

Key participants on the call will include:

• Gary Smalley - CEO and President
• Ryan Soroka - Executive Vice President and CFO
• Ronald Tutor - Executive Chairman

The company will release its Q1 2025 earnings report after market close on the same day. Investors can join via phone (877-407-8293 for domestic, +1-201-689-8349 for international) or access the live webcast through the company website at www.tutorperini.com. Participants should connect 15 minutes early to register and install necessary software. A replay will be available on the website after the call.

Rhumbix, a Field & Workforce Management solutions provider for the construction industry, has appointed Jigisha Desai as an independent director to its Board of Directors. Desai brings extensive experience in finance and operations from the construction sector, most recently serving as Executive VP and Chief Financial & Strategy Officer at Granite Construction.

Desai currently serves on the Board of Directors of Tutor Perini (NYSE: TPC) and Central States Manufacturing. She holds a BS in Accounting from the University of Houston, an MBA in Corporate Finance from Golden Gate University, and is a Certified Treasury Professional with advanced certifications from Harvard Business School.

Since its founding in 2014, Rhumbix has been implemented on over one million project sites worldwide, focusing on North American commercial, industrial, and mission-critical construction markets.

Tutor Perini (NYSE: TPC) reported its Q4 and full-year 2024 results, highlighting a record operating cash flow of $503.5 million, up 63% year-over-year. The company achieved significant debt reduction of $477 million (52%) and reached a record backlog of $18.7 billion, up 84% from 2023.

Revenue increased 12% to $4.3 billion in 2024, driven by Civil and Building segment growth. However, the company reported a diluted loss of $3.13 per share, primarily due to resolutions of legacy disputes. For 2025, TPC provides guidance with double-digit revenue growth and EPS range of $1.50 to $1.90.

Notable new awards in 2024 totaled $12.8 billion, including the $3.76 billion Manhattan Jail project and $1.66 billion City Center Guideway project in Hawaii. The company expects preliminary EPS estimates for 2026 and 2027 to be more than double the 2025 guidance.

Tutor Perini (NYSE: TPC) announced that the Tutor Perini-Nan Joint Venture has been awarded additional scope options valued at approximately $232 million for the Apra Harbor Waterfront Repairs Project in Guam, bringing the total contract value to approximately $563 million.

This design-build project will repair the Apra Harbor's Glass Breakwater and restore waterfront areas damaged by storms, including Typhoon Mawar from May 2023. The expanded scope includes repairs to various sections of the Glass Breakwater to minimize future breaching potential and shoreline repairs to the inner harbor.

Tutor Perini serves as the managing partner in the joint venture, with Nan, Inc. as a 30% partner. The Company's Guam-based subsidiary, Black Construction , is managing the project execution. Design work is already underway, with in-water construction expected to begin in Q4 2025 and substantial completion anticipated by July 2029. The $232 million incremental value will be added to the Company's backlog in Q1 2025.

Tutor Perini (NYSE: TPC) and its joint venture partner O&G are finalizing a contract for the Manhattan Jail Project in New York, valued at $3.76 billion. The project, part of New York City's Borough-Based Jail System, has a duration of 7 years and 3 months.

The scope includes designing and constructing a state-of-the-art facility featuring 1,040 beds, 125 below-grade parking spaces, and 20,000 square feet of community and commercial space. The facility will include dedicated areas for on-site services, programming, recreation, food services, and staff facilities.

Tutor Perini is the managing partner in the joint venture, with O&G holding a 25% stake. HOK serves as the design partner. The contract value has been added to Tutor Perini's backlog in Q4 2024.

Tutor Perini (NYSE: TPC) has announced the payoff of its remaining Term Loan B debt of approximately $47 million. This latest prepayment represents significant progress in the company's deleveraging efforts, having reduced total debt by $477 million, or 52%, since December 31, 2023.

CEO Gary Smalley highlighted that strong operating cash flow enabled the company to exceed debt reduction commitments. The company expects to continue generating strong cash flow and explore opportunities to enhance its capital structure while considering value-driving capital allocation strategies. With a record backlog, management believes the company is well-positioned for significant growth and improved profitability in the coming years. The company also does not anticipate significant impacts from federal funding or tariff concerns, citing protective contractual terms and project execution practices.