Lunda Construction is the Apparent Low Bidder on a $28.6 Million Project on Highway 243

Key Terms

backlog financial

A backlog is the amount of work or orders that a company has received but hasn't completed yet. It’s like a restaurant with many dishes to serve; the backlog shows how many orders are still waiting to be finished. It matters because a large backlog can indicate strong demand or potential delays in delivering products or services.

bituminous pavement technical

A road or surface made by mixing stone, sand and gravel with a sticky, black petroleum product called bitumen to form a durable wearing layer. Think of it like a gravel cake held together by a tar-like glue; it’s the common material for streets, parking lots and runways. Investors care because its choice and condition affect construction contracts, maintenance costs, material suppliers’ demand and the lifespan and value of infrastructure assets.

reinforced soil slope technical

A reinforced soil slope is a man-made embankment where layers of soil are strengthened by adding strips, grids, or sheets of strong material (like geotextiles or metal) that tie the fill together so the slope holds its shape. Think of it like stitching fabric into a pile of sand to stop it from sliding. Investors track these structures because they affect costs, timelines, durability, and liability for infrastructure, construction, and materials companies involved in projects.

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BLACK RIVER FALLS, Wis.--(BUSINESS WIRE)--

Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that its subsidiary, Lunda Construction (“Lunda”), has been identified by the Minnesota Department of Transportation as the apparent low bidder for Project SP 1311-06. Lunda’s bid value is $28,551,380. The project is in Chisago (MN) and Polk (WI) Counties on Highway 243 from 0.25 miles west of the St. Croix River to Cascade Street (WI 35). The scope of work includes grading, bituminous pavement, reinforced soil slope, ADA improvements, and construction of a bridge.

Work is expected to begin in the fall of 2026 with substantial completion anticipated in the fall of 2028. The contract value is expected to be reflected in the Company’s backlog for the third quarter of 2026.

About Tutor Perini Corporation

Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private customers and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict safety and quality control measures. We offer general contracting, pre-construction planning and comprehensive project management services, and have strong expertise in delivering design-bid-build, design-build, construction management, and public-private partnership (P3) projects. We often self-perform multiple project components, including earthwork, excavation, concrete forming and placement, steel erection, electrical, mechanical, plumbing, heating, ventilation and air conditioning (HVAC), and fire protection.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260710313395/en/

Tutor Perini Corporation
Jorge Casado, 818-362-8391
Senior Vice President, Investor Relations and Corporate Communications
www.tutorperini.com

Source: Tutor Perini Corporation