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 (NYSE: TPC) announced that its subsidiary, Fisk Electric Company, has been awarded the first phase of a $147 million electrical contract for a new Harris Health hospital in Houston, Texas. The initial phase, valued at approximately $29 million, covers electrical and fire alarm components for the new hospital tower and podium.
The project, contracted by McCarthy Building Companies, Inc., is set to begin in Q4 2024 with substantial completion expected in Q4 2028. The new 12-story hospital will be Harris County's third Level I trauma center, featuring 390 private rooms, 15 operating rooms, and a rooftop helipad. The facility will span approximately 1.3 million square feet and is designed to handle a wide range of medical procedures.
Tutor Perini (NYSE: TPC) has announced that its joint venture with subsidiary Black Construction has been awarded a $113.3 million contract by the Naval Facilities Engineering Systems Command, Pacific. The project involves constructing the P-541 Missile Integration Test Facility at Naval Base Guam, part of the Pacific Deterrence Initiative.
The scope includes building a 57,664 square-foot concrete structure with missile processing spaces, a test cell, administration area, and storage rooms. The project also entails demolishing an existing building and implementing site improvements. The facility will be equipped with modern systems including air conditioning, telecommunications, and fire protection.
Work is set to begin soon, with completion expected in December 2028. The contract value has been added to Tutor Perini's backlog in the third quarter of 2024.
Tutor Perini (NYSE: TPC) and its subsidiary, Black Construction , have been awarded a $38.3 million contract for the P-324 9th Engineering Support Battalion Headquarters Project at Marine Corps Base Guam. The project, awarded by the Naval Facilities Engineering Systems Command, Pacific District, involves constructing low-rise facilities to support the 3rd Marine Expeditionary Force.
The scope includes building reinforced concrete structures with shallow foundations, featuring an administration building with offices, meeting rooms, and support spaces. Work is scheduled to begin in Q1 2025, with substantial completion expected by November 2026. The contract value will be added to Tutor Perini's backlog in Q3 2024.
Tutor Perini (NYSE: TPC) announced that its subsidiary, Five Star Electric, has been awarded a subcontract by AECOM-Hunt for the JFK International Airport Terminal 6 project. The scope includes providing lighting, lighting controls, and associated electrical branch wiring for the new terminal. The project is divided into two phases, with work beginning immediately and substantial completion expected in Q1 2026 for the first phase and Q1 2028 for the second phase. The contract value, which will be added to Tutor Perini's backlog in Q3 2024, was not disclosed. The new Terminal 6 is part of a larger $4.2 billion project led by JFK Millennium Partners in partnership with the Port Authority of New York and New Jersey.
Tutor Perini (NYSE: TPC) has announced that its subsidiary, Rudolph and Sletten, has commenced construction on the Stanford Hospital Pod E Renovation project in Palo Alto, California. The project involves renovating a 62,000 square-foot portion of the existing acute care hospital to upgrade inpatient nursing units for cancer patient recovery. The scope includes converting dual-bed patient rooms into single-patient rooms and upgrading various systems. Additionally, two 40,000 square-foot extensions will be added to increase patient bed capacity. Rudolph and Sletten has been involved in preconstruction tasks since late 2022, with substantial completion expected in spring 2027. The contract value, while undisclosed, has been included in the Company's backlog earlier this year.
Tutor Perini (NYSE: TPC) has been awarded a $1.66 billion contract by the Honolulu Authority for Rapid Transportation (HART) for the City Center Guideway and Stations Project in Honolulu, Hawaii. The project involves designing and constructing six rail stations and approximately three miles of elevated rail guideway. Design work will begin immediately after contract execution in mid-September, with construction starting in the second half of 2025 and substantial completion expected in 2030. Parsons (NYSE: PSN) will serve as Tutor Perini's design subcontractor. The contract value will be added to the Company's backlog in the third quarter of 2024.
Tutor Perini (NYSE: TPC) has announced that its subsidiary, WDF, Inc., has been awarded a $35.5 million project by the New York City Housing Authority. The project involves constructing a new boiler plant at George Washington Carver Houses, a 13-building public housing development in Manhattan. The scope of work includes replacing the existing boiler plant with new boilers, domestic hot water heaters, and sump pumps. Work is scheduled to begin in June 2024, with substantial completion expected by January 2027. The contract value has been added to Tutor Perini's backlog in the second quarter of 2024.
Tutor Perini (NYSE: TPC) reported strong Q2 2024 results, with revenue up 10% to $1.1 billion compared to Q2 2023. The company generated $53.1 million in operating cash flow for Q2 and $151.4 million for the first six months of 2024. Backlog grew to $10.4 billion as of June 30, 2024, with significant new awards in Civil and Building segments. Income from construction operations increased to $40.5 million, up $38.1 million from Q2 2023. Net income was $0.8 million, or $0.02 EPS, compared to a net loss of $37.5 million in Q2 2023. The company affirmed its 2024 EPS guidance range of $0.85 to $1.10 and anticipates strong backlog growth in the second half of 2024 and 2025.
Tutor Perini (NYSE: TPC), a leading civil, building and specialty construction company, has announced a conference call to discuss its second quarter 2024 results. The call is scheduled for Thursday, August 1, 2024, at 2:00 PM Pacific Time. Key speakers will include Ronald Tutor (Chairman and CEO), Gary Smalley (President), and Ryan Soroka (Senior Vice President and CFO).
The company plans to release its earnings announcement on the same day after market close. Interested parties can participate by dialing 877-407-8293 (US) or 1-201-689-8349 (International). The call will also be webcast live on Tutor Perini's website at www.tutorperini.com. For those unable to attend, a replay will be available on the company's website shortly after the call.
Tutor Perini (NYSE: TPC) announced that Elevate Inglewood Partners (EIP), a consortium including Tutor Perini as lead contractor, has been selected as the Best Value Proposer for the Inglewood Transit Connector (ITC) Project. The project involves designing, constructing, financing, operating, and maintaining a 1.6-mile automated people mover in Inglewood, California.
The ITC will connect the Metro K Line with major destinations like the Kia Forum, Sofi Stadium, YouTube Theater, and the Intuit Dome. The City of Inglewood has partnered with LA Metro and Los Angeles County to form the ITC Joint Powers Authority to oversee the project. EIP and the City are currently negotiating pricing and contractual terms.