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 (NYSE: TPC) is a civil, building and specialty construction company whose news flow reflects activity across major infrastructure and building markets. Company press releases highlight contract awards, change orders, financial results and capital allocation decisions, giving investors and industry observers insight into its construction backlog and operating performance.
Recent announcements have described new and expanded projects such as a design change order for the City Center Guideway and Stations Project in Honolulu, a Central Utility Plant expansion for UC Davis Health in Sacramento, the Diego Rivera Performing Arts Center at City College of San Francisco, and multiple mechanical and electrical contracts in Florida and at the Port of Miami. Subsidiaries including Rudolph and Sletten, Perini Management Services, Inc., Nagelbush Mechanical and Fisk Electric Company feature prominently in these updates.
News about Tutor Perini also covers large military and defense-related contracts, such as a multiple-award task order contract with the U.S. Army Corps of Engineers Middle East District and a tool and die facility project for the Iowa Army Ammunition Plant. Financial news items include quarterly earnings releases, record operating cash flow and backlog figures, as well as the initiation of a quarterly dividend and authorization of a share repurchase program.
This page aggregates such releases and related coverage so readers can follow developments in Tutor Perini’s civil infrastructure, building and specialty contracting activities. By reviewing this news stream over time, users can see how new awards, project milestones and financial updates shape the company’s construction portfolio and strategic direction.
Tutor Perini Corporation (NYSE: TPC) has been awarded the design and construction contract for Phase 1 South of the New American Legion Bridge I-270 Traffic Relief Plan, a significant civil works project in the U.S. The company will collaborate with AM Partners, including its subsidiary Lunda Construction and Parsons Corporation, to deliver the project. The initiative is expected to generate $12.6 billion in economic activity and create 43,400 job-years. This multi-billion dollar construction project aims to optimize travel and enhance long-term economic value while minimizing community impact.
Tutor Perini Corporation (TPC) reported Q2 2022 results, revealing a revenue decline to $0.9 billion from $1.2 billion in Q2 2021, attributed to reduced project execution. Net loss was $63 million, or $1.23 per diluted share, compared to a profit of $31.2 million in the same period last year. Strong operating cash flow totaled $58 million for the quarter and record $178.7 million year-to-date. Backlog rose 14% to $8.5 billion, driven by substantial new contracts. However, the company withdrew its 2022 earnings guidance due to uncertainties in project settlements.
Tutor Perini Corporation (NYSE: TPC) will host a conference call on August 5, 2022, at 8:00 AM Pacific Time, to discuss its second quarter 2022 results. The call will feature CEO Ronald Tutor and CFO Gary Smalley. An earnings announcement will be released the same day before market open. Interested parties can join the call by dialing 877-407-8293 or 1-201-689-8349 for international callers. A live webcast will be accessible on Tutor Perini's website, with a replay available shortly after the call.
Tutor Perini Corporation (NYSE: TPC) has been identified as the low bidder for New Jersey Transit’s Raritan River Bridge Replacement Project, with a bid of approximately $519 million. This project aims to replace a 114-year-old bridge between South Amboy and Perth Amboy, which was damaged by Superstorm Sandy in 2012. The new bridge is designed to resist future storm surges and severe weather. The anticipated contract award is expected in Q4 2022, with work commencing shortly thereafter.
Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Perini Management Services, has secured a task order valued at approximately $85 million from the United States Coast Guard for designing and constructing family housing at Kodiak, Alaska. The project involves building 50 family housing units in duplex configurations, including related site improvements. Work is set to begin immediately, with substantial completion expected by Q3 2025. This contract will enhance the Company's backlog for Q2 2022.
Tutor Perini Corporation (NYSE: TPC) has secured an $83,733,445 contract from the Naval Facilities Engineering Systems Command to improve wharf infrastructure at Naval Base Guam. The project will modernize Berth 2 for optimal support of two loaded T-AKE vessels. Work is starting immediately and is projected for completion by September 2024. This contract will contribute to the Company's backlog for the second quarter of 2022.
Tutor Perini Corporation (NYSE: TPC) announced that the Black Construction-Tutor Perini joint venture received awards totaling approximately $122 million from the Naval Facilities Engineering Systems Command, Pacific Division. The new projects include a $73 million task order for constructing support facilities for the Marine Corps at Naval Support Activity, Guam, and a $48 million task order for a permanent aviation building at Andersen Air Force Base, Guam. Both projects are expected to be completed by August 2024.
Tutor Perini Corporation (NYSE: TPC) reported a net loss of $21.6 million, or $0.42 per diluted share, in Q1 2022, compared to a profit of $16.0 million, or $0.31 per diluted share, in Q1 2021. Revenue declined to $1.0 billion from $1.2 billion, attributed to reduced project activity and an adverse legal ruling. However, operating cash flow reached a record $120.7 million, driven by improved cash collection. The backlog increased to $8.3 billion, showcasing continued demand, while the EPS guidance remains between $1.15 and $1.60 for the year.
Tutor Perini Corporation (NYSE: TPC), a prominent construction firm, will host a conference call on May 4, 2022, at 2:00 PM Pacific Time, to discuss its first quarter 2022 results. The earnings announcement will be released that same day after market close. Key speakers include Ronald Tutor, Chairman and CEO, and Gary Smalley, Executive VP and CFO. Interested parties can join the call by dialing in or accessing the webcast on the company's official website.
Tutor Perini Corporation (NYSE: TPC) has secured a firm fixed-price contract worth approximately $106.8 million from NAVFAC for the construction of the Bachelor Officer Quarters-B project at Marine Corps Base Camp Blaz in Guam. This marks the second such contract awarded to the Black Construction-Tutor Perini joint venture. Funded by the Japanese government as part of a military relocation agreement, the project will include multi-story housing for officers with completion expected by December 2024. Engineering is underway and fieldwork is set to commence in July 2022.