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Tutor Perini Corp - TPC STOCK NEWS

Welcome to our dedicated news page for Tutor Perini (Ticker: TPC), a resource for investors and traders seeking the latest updates and insights on Tutor Perini.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Tutor Perini's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Tutor Perini's position in the market.

Rhea-AI Summary
Tutor Perini (TPC) subsidiary, Lunda Construction, wins $136 million bridge replacement project in Illinois. The project spans 1.58 miles on I-64, crossing the Wabash River. Contract award expected in Q2 2024, completion in Q4 2029.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.63%
Tags
none
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Rhea-AI Summary
Tutor Perini Corporation (NYSE: TPC) reported record operating cash flow of $308.5 million in 2023, a 49% increase from the previous year. Term Loan B was paid down by $91 million earlier than required. Backlog grew by 28% to $10.2 billion, with expectations of significant growth in 2024 and 2025. Revenue for 2023 was $3.9 billion, with growth in Civil and Building segments offset by a decline in Specialty Contractors segment. Loss from construction operations decreased to $114.6 million. The Company anticipates double-digit revenue growth and positive earnings in 2024, with stronger earnings in 2025 and 2026.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
22.62%
Tags
earnings
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Rhea-AI Summary
Tutor Perini Corporation (TPC) will host a conference call to discuss its fourth quarter and full year 2023 results. The call will feature Ronald Tutor, Gary Smalley, and Ryan Soroka. Earnings announcement to follow after the market close. Details on how to participate provided.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.68%
Tags
earnings
Rhea-AI Summary
Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Five Star Electric, has been awarded a $67 million project by the New York Metropolitan Transportation Authority for the Connection-Oriented Ethernet, Phase 3C project. The project involves the replacement of 150,000 feet of fiber optic cable, integrating 360 branch sites into MTA's network, and connecting existing service delivery switches and closed circuit television cameras at 125 stations. The work has commenced and is expected to be completed by late 2028.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.3%
Tags
none
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Rhea-AI Summary
Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Roy Anderson Corp, has been awarded an $80.7 million project for the New Residence Hall at Mississippi State University. The project includes the construction of a 155,000 square-foot, five-story residence hall with 400 beds, a dining hall, day spaces, offices, and a storm shelter. Work is expected to start in February 2024 with completion in spring 2025.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.23%
Tags
none
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Rhea-AI Summary
Tutor Perini Corporation (NYSE: TPC) extends spring-forward maturity provision on 89.8% of the Term Loan B Facility to April 21, 2025 and enters agreement with Goldman Sachs & Co. as lead advisor for Senior Notes refinancing.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.99%
Tags
none
Rhea-AI Summary
Tutor Perini Corporation (TPC) appoints Gary Smalley as President, succeeding Ronald Tutor as CEO, and Ryan Soroka as Senior Vice President and CFO. Smalley, currently the Executive VP and CFO, will take over as CEO on January 1, 2025. Soroka, the current Chief Accounting Officer, will assume the role of Senior VP and CFO. The company is also in search of a replacement for the Chief Accounting Officer position.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.05%
Tags
management
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Rhea-AI Summary
Tutor Perini Corporation (TPC) appoints Gary Smalley as President, succeeding Ronald Tutor as CEO, and Ryan Soroka as Senior Vice President and CFO. Smalley, currently the Executive VP and CFO, will take over as CEO on January 1, 2025. Soroka, the current Chief Accounting Officer, will assume the role of Senior VP and CFO. The company is also in search of a replacement for the Chief Accounting Officer position.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.11%
Tags
management
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Rhea-AI Summary
Tutor Perini Corporation (NYSE: TPC) reported Q3 2023 results, including a strong operating cash flow of $103.2 million, up 42% from Q3 2022. Backlog grew to $10.6 billion, anticipating continued strong backlog growth in 2024. Revenue was $1.1 billion, and net loss attributable to the company was $36.9 million. Loss from construction operations was $12.6 million for Q3 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.14%
Tags
earnings
Rhea-AI Summary
Tutor Perini Corporation (NYSE: TPC) will host a conference call on November 9, 2023, to discuss its third quarter 2023 results. The call will feature Ronald Tutor, Chairman and CEO, and Gary Smalley, Executive Vice President and CFO. The earnings announcement will be issued the same day after the market close. The conference call can be accessed by dialing 877-407-8293 (international callers: 1-201-689-8349) or through the webcast on Tutor Perini's website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.52%
Tags
earnings
Tutor Perini Corp

NYSE:TPC

TPC Rankings

TPC Stock Data

746.05M
42.26M
19.05%
66.55%
3.35%
Commercial and Institutional Building Construction
Construction
Link
US
Sylmar

About TPC

tutor perini corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. the company operates through three segments: civil, building, and specialty contractors. the civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities. this segment also provides drilling, foundation, and excavation support for shoring, bridges, piers, roads, and highway projects. the building segment offers services in various specialized building markets, including hospitality and gaming, transportation, healthcare, commercial offices, government facilities, sports and entertainment, education, correctional facilities, biotech, pharmaceutical, and industrial and high-tech. the specialty contractors segment provides electrical, me