Welcome to our dedicated page for Tutor Perini news (Ticker: TPC), a resource for investors and traders seeking the latest updates and insights on Tutor Perini stock.
Tutor Perini Corporation (TPC) is a leading construction services provider specializing in complex infrastructure and building projects. This page serves as the definitive source for official company announcements, financial updates, and operational developments.
Key resources include: Quarterly earnings reports, project award notices, regulatory filings, and leadership updates. Investors and industry professionals can monitor progress on major civil infrastructure initiatives, building segment contracts, and specialty construction milestones.
The curated news archive enables tracking of TPC's strategic positioning in markets including transportation, water infrastructure, and specialized facilities construction. Content is updated press releases and verified financial disclosures, maintaining compliance with SEC regulations.
Bookmark this page for direct access to TPC's corporate communications, including contract awards from government agencies and private sector partners. Regular updates provide insights into the company's project pipeline and operational health.
Tutor Perini Corporation (NYSE: TPC) reported first-quarter 2021 results, showing revenue of $1.21 billion, slightly down from $1.25 billion year-over-year due to reduced activities in the Building segment. However, income from construction operations increased by 5% to $49.7 million, driven by higher-margin Civil segment projects. Net income was $16.0 million, or $0.31 per diluted share, reflecting a rise in effective tax rates. Backlog remained solid at $8.1 billion, with new awards totaling $1.0 billion, including significant government contracts. The company affirms EPS guidance of $1.80 to $2.20.
Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Rudolph and Sletten, has secured a $269 million design-build contract for a skilled nursing and memory care facility for the California Department of General Services. The facility will be located at the historic Yountville Veterans Home and will replace three existing structures, providing 240 beds for aged or disabled veterans. The project design will meet LEED Gold standards and is set to commence this spring, with anticipated completion by the end of 2023.
Tutor Perini Corporation (NYSE: TPC) announced a conference call scheduled for May 5, 2021, at 2:00 PM Pacific Time to discuss its first quarter 2021 results. The call will feature Ronald Tutor, Chairman and CEO, and Gary Smalley, Executive Vice President and CFO. The earnings announcement will be released the same day after market close. Participants can join by dialing 877-407-8293 or +1-201-689-8349 for international callers. The conference call will also be webcast live on Tutor Perini's website.
Tutor Perini Corporation (NYSE: TPC) has been selected by the Los Angeles County Metropolitan Transportation Authority as the low bidder for the LAX Airport Metro Connector Project, valued at approximately $478 million. This project entails creating a new major transit station hub that connects the Metro Crenshaw/LAX and Green rail lines, along with various bus routes to the LAX Automated People Mover. Construction is expected to start in Q3 2021 and be substantially completed by Q1 2025. The contract value will be booked into backlog in Q1 2021.
Tutor Perini Corporation (NYSE: TPC) announced a settlement regarding its involvement in the Central Subway Project in San Francisco. On March 2, 2021, the San Francisco Municipal Transportation Agency (SFMTA) approved contract modifications worth $146.6 million, resolving all related issues. The Company expressed satisfaction with the settlement and is optimistic about completing the Project successfully in the near term.
Tutor Perini Corporation (NYSE: TPC) reported strong fourth quarter and full year 2020 results, with revenues of $1.3 billion and $5.3 billion, representing increases of 15% and 20% respectively. Net income reached $35.5 million for Q4 and $108.4 million for the year, significantly boosted by the absence of prior-year charges. Despite a $290 million estimated revenue loss from COVID-19, the company anticipates future revenue recovery. Backlog stands at $8.3 billion, reflecting strong demand for construction services.
Tutor Perini Corporation (NYSE: TPC) will host a conference call on February 24, 2021, at 2:00 PM PT to discuss its fourth quarter and full year 2020 results. The earnings announcement will be released the same day after market close, featuring Ronald Tutor, Chairman and CEO, and Gary Smalley, Executive VP and CFO. Interested participants can join by calling 877-407-8293 or +1-201-689-8349 for international callers. The call will also be webcast live on Tutor Perini's website, and a replay will be available shortly after the call concludes.
Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Perini Management Services, Inc., secured a $44.1 million fixed-price contract from the U.S. Customs and Border Protection for the renovation of the San Juan Custom House in Puerto Rico. This historic building, constructed in 1924, is listed on the National Register of Historic Places. The two-year project involves extensive restoration including facade repairs, structural renovations, and upgrades to mechanical and electrical systems, adhering to preservation guidelines.
Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Perini Management Services, Inc. (PMSI), has secured two federal contracts totaling approximately $66.9 million. The first contract, valued at $40.9 million, involves the design and construction of a prefabricated dormitory at the Federal Law Enforcement Training Centers in Georgia. The second, worth $26 million, pertains to the renovations of the Cadet Field House at the U.S. Air Force Academy. Both projects are set for completion by December 2022 and contribute to the company's backlog for Q4 2020.
Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Rudolph and Sletten, has secured a $54 million contract for the Rise Koreatown project in Los Angeles. The project includes 364 rental units and a 52,000 square-foot retail area, totaling 798,000 square feet with extensive parking facilities. Construction resumed in July 2020 after replacing an underperforming contractor, and is expected to be completed by November 2021. This project marks Rudolph and Sletten's first collaboration with Rescore Property Corp.
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