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) announced that its Guam subsidiary, Black Construction Corporation, has been named a 2022 Top 200 Performer by the Associated Builders and Contractors (ABC). Black was recognized for excellence in safety, quality, and project delivery, ranking #1 among Top Military Contractors and within the top 10 in several other categories, including Government and Airport Contractors. This recognition highlights Black's commitment to quality construction services and adherence to safety standards.
Tutor Perini Corporation (NYSE: TPC) announced a CAD$341 million contract awarded to its subsidiary Frontier-Kemper Constructors by FortisBC Energy, Inc. for the Eagle Mountain-Woodfibre Gas Pipeline project. This involves boring a nine-kilometer tunnel to install a 24-inch natural gas pipeline, ensuring the protection of sensitive ecosystems. Pre-construction starts in March 2022, with construction projected to begin in early 2023 and substantial completion expected in 2025. This contract will boost the company’s 2022 backlog.
Tutor Perini Corporation (NYSE: TPC) reported a diluted EPS of $1.79 for 2021, aligning with guidance, despite a 23% decline in Q4 revenue to $1.0 billion and a 13% decrease for the full year to $4.6 billion. The Civil segment achieved a record operating margin of 12.7%, bolstered by large projects. A total backlog of $8.2 billion remained stable year-over-year. Expected challenges include a rise in the effective tax rate and the impacts of COVID-19 on bidding activities. Initial EPS guidance for 2022 is set between $1.15 and $1.60.
Tutor Perini Corporation (NYSE: TPC) announced a conference call to discuss its fourth quarter and full year 2021 results on February 24, 2022, at 2:00 PM PT. The call will feature Chairman and CEO Ronald Tutor and CFO Gary Smalley, with the earnings announcement to be released after market close on the same day. Interested participants can join the call by dialing 877-407-8293 for domestic or +1-201-689-8349 for international calls. The live webcast will be available on the company's website.
Tutor Perini Corporation (NYSE: TPC) announced the awarding of two significant contracts. The first, valued at $161,815,880, involves site development and construction at Tinian International Airport, set to mobilize in April 2022 and finish by October 2025. The second contract, worth $56,970,960, for the J-015 Enlisted Dining Facility at Camp Blaz Marine Corps Base Guam, is funded by the Government of Japan, with work starting immediately and completion expected by December 2023.
Tutor Perini Corporation (NYSE: TPC) has appointed Marcus Leavitt as Senior Vice President to lead strategic project pursuits, focusing on complex projects under alternative delivery models like Public-Private Partnerships. Leavitt will also establish a new Design-Build Engineering Management Group to enhance collaboration with clients and partners. Chairman Ronald Tutor expressed enthusiasm for Leavitt’s contributions, highlighting his previous successful collaborations. Tutor Perini is known for executing large projects on time and within budget since its inception in 1894.
Tutor Perini Corporation (NYSE: TPC) announced its third quarter 2021 results, reporting a revenue of $1.2 billion, down from $1.4 billion in Q3 2020. The decline is attributed to decreased project execution in the Building segment. Net income fell to $15.4 million ($0.30 per diluted share) from $36.8 million ($0.72 per diluted share) a year prior. The backlog increased to $8.4 billion, bolstered by $2.1 billion in new awards, including significant projects like the Cedars-Sinai Marina del Rey Replacement Hospital. The company adjusted its EPS guidance to $1.70 to $1.85 for the year.
Tutor Perini Corporation (NYSE: TPC) announced a conference call on November 3, 2021, at 2:00 PM Pacific Time, to discuss its third quarter 2021 results. The call will feature CEO Ronald Tutor and CFO Gary Smalley. Earnings will be released the same day after market close. Interested parties can participate by dialing 877-407-8293 or +1-201-689-8349 for international calls. The call will also be webcast on Tutor Perini's website. The company, established in 1894, is known for its large, complex construction projects.
Tutor Perini Corporation (NYSE: TPC) announced it has been awarded a $178 million contract by the U.S. Department of the Interior for the Friant-Kern Canal Middle Reach Capacity Correction Phase I project in California. This joint venture, with Brosamer & Wall, Inc., aims to restore water conveyance capacity significantly. Currently, the canal delivers water to 1 million acres of farmland and thousands of residents in San Joaquin Valley. Construction starts in November 2021, with anticipated completion in June 2024. This project supports the company's backlog.
Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Black Construction Corp., secured a fixed-price contract worth approximately $122 million from the Naval Facilities Engineering Systems Command, Pacific Division. The project involves constructing a machine gun range at Andersen Air Force Base in Guam, including facilities such as a control tower and utility work. The project is set to start immediately and is expected to be completed by October 2024. This contract will contribute to the Company’s backlog in the third quarter of 2021.