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Tutor Perini Corporation reports recurring developments across civil, building and specialty construction. The company provides general contracting, design-build, pre-construction planning and project management services for private customers and public agencies, with work spanning transportation infrastructure, government facilities, water systems, buildings and public-private partnership projects.
Company updates commonly address operating results, segment revenue, backlog, project execution, new awards and change orders, including work tied to transit, federal facilities, energy resilience and utility infrastructure. News also includes capital-return actions such as quarterly cash dividends and share repurchase authorizations, along with earnings-call announcements and guidance commentary.
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.
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.