Tutor Perini

Tutor Perini Corp. engages in the provision of construction services. It operates through the following business segments: Civil, Building, and Specialty Contractors. The Civil segment specializes in public works construction and the replacement and reconstruction of infrastructure across the major geographic regions of the United States. The Building segment offers services to a number of specialized building markets for private and public works customers, including hospitality and gaming, transportation, health care, commercial offices, government facilities, sports and entertainment, education, correctional facilities, biotech, pharmaceutical, industrial, and high-tech. The Specialty Contractors segment covers electrical, mechanical, plumbing, HVAC, fire protection systems and pneumatically placed concrete for a full range of civil and building construction projects in the industrial, commercial, hospitality and gaming, and mass-transit end markets. The company was founded by Bonfiglio Perini in 1918 and is headquartered in Sylmar, CA.

Earnings data Q4 2020

Earnings data Q1 2021

Earnings data Q2 2021

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Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Tutor Perini faces revenue decline in 2022 but eyes turnaround

Tutor Perini navigated a tough 2022 with revenue and earnings declines, but strong cash flow management and debt reduction demonstrate financial resilience.
Strategic changes and a positive outlook for 2023, with plans for debt reduction and revenue growth, position the company for a turnaround.
While challenges like project delays persist, opportunities in cash generation, new awards, and operational improvements offer avenues for future growth and performance.

Tutor Perini reports Q1 loss, eyes stronger cash generation

Tutor Perini navigated challenges in Q1 2023 with a loss driven by legal charges and project adjustments, but maintains a strong backlog and solid cash flow. The company is optimistic about future cash generation, new project awards, and improved financial performance in 2024 and beyond.

Tutor Perini reports strong Q2 growth, eyes future project opportunities

Tutor Perini demonstrated resilience with strong revenue and backlog growth in Q2 2023.
Challenges in the Specialty Contractors segment and uncertainties in guidance and tax rates persist.
Anticipated growth in 2024 and beyond, driven by bidding on major projects and resolving disputes.
Overall, Tutor Perini shows potential for improved financial performance and sustained growth.

Tutor Perini reports mixed Q3 results, eyes strong backlog growth

Tutor Perini reported mixed Q3 results with strong cash flow and backlog growth but faced earnings challenges from resolved disputes.
The company made progress in settling claims and disputes, aiming to clear outstanding issues by the end of 2024.
Despite challenges in the Specialty Contractors segment, Tutor Perini remains optimistic about exceeding cash flow records and resolving disputes by 2024.

Tutor Perini reports record cash flow and anticipates strong growth

Tutor Perini's 2023 performance reflects a mix of achievements and challenges, with a strong focus on debt reduction and revenue growth.
The company's strengths lie in its bidding success, favorable contract terms, and anticipated backlog expansion in the coming years.
Challenges include managing disputed claims, debt levels, and the impact of limited competition on market dynamics.
Opportunities abound in leveraging bidding wins, reducing debt, and capitalizing on a growing backlog to drive future profitability.

Tutor Perini surpasses Q1 expectations, eyes strong growth ahead

Tutor Perini's Q1 performance showcased strong revenue growth, margin improvement, and debt reduction. The company is poised for positive earnings in 2024, with even better prospects in 2025 and 2026. Resolving legacy disputes and focusing on backlog growth are key priorities for sustained success.

Tutor Perini reports strong Q2 earnings, eyes growth opportunities

Tutor Perini's Q2 2024 performance reflects solid financial results, with revenue growth, improved net income, and debt reduction.
The company's strengths lie in its operational efficiency, strategic focus on resolving disputes, and anticipation of future growth opportunities.
Challenges include the need to resolve legacy disputes, manage competition, and sustain improvements in key segments, while opportunities abound in revenue expansion and financial health.

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LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (the “Company”) (NYSE: TPC), a leading civil, building and specialty construction company, reported results today for the third quarter of 2022.

Tutor Perini Reports Third Quarter 2022 Results

NEW YORK--(BUSINESS WIRE)-- #newaward--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that its subsidiary, Five Star Electric (“Five Star”), has been awarded two new contracts collectively valued at approximately $90 million.

Five Star Electric Awarded Two Contracts Collectively Valued at Approximately $90 Million

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that it will host a conference call at 2:00 PM Pacific Time on Wednesday, November 2, 2022, to discuss the Company's third quarter 2022 results.

Tutor Perini Announces Conference Call to Discuss Third Quarter 2022 Results

Perini Management Services, Inc. Awarded Three Federal Contracts Collectively Valued at $164 Million

NEW YORK--(BUSINESS WIRE)-- #newaward--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that it has been selected by Accelerate Maryland Partners LLC (“AM Partners”) as the design and construction contractor for Phase 1 South of the New American Legion Bridge I-270 Traffic Relief Plan, one of the largest civil works projects ever undertaken in the United States. Tutor Perini was selected by AM Partners to design and construc

Tutor Perini Selected as the Design and Construction Contractor for Phase 1 South of the New American Legion Bridge I-270 Traffic Relief Plan

Tutor Perini Corporation (NYSE:TPC ) Q2 2022 Earnings Conference Call August 5, 2022 11:00 AM ET Company Participants Jorge Casado - Vice President of Investor Relations Ronald Tutor - Chairman and CEO Gary Smalley - Executive Vice President and CFO Conference Call Participants Steven Fisher - UBS Alex Rygiel - B. Riley Operator Good day, ladies and gentlemen.

Tutor Perini Corporation (TPC) CEO Ronald Tutor on Q2 2022 Results - Earnings Call Transcript

Tutor Perini (TPC) delivered earnings and revenue surprises of -415.38% and 23.56%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Tutor Perini (TPC) Reports Q2 Loss, Misses Revenue Estimates

LOS ANGELES--(BUSINESS WIRE)-- #newaward--Tutor Perini Corporation (the “Company”) (NYSE: TPC), a leading civil, building and specialty construction company, reported results today for the second quarter of 2022. Revenue was $0.9 billion compared to $1.2 billion for the second quarter of last year. The decrease was primarily due to reduced project execution activities on various projects in all three segments, most of which are completed or nearing completion, partially offset by increased activities on ce

Tutor Perini Reports Second Quarter 2022 Results

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that it will host a conference call at 8:00 AM Pacific Time on Friday, August 5, 2022, to discuss the Company's second quarter 2022 results. Speakers on the call from Tutor Perini will be Ronald Tutor, Chairman and CEO, and Gary Smalley, Executive Vice President and CFO. The Company plans to issue its earnings announcement the same day

Tutor Perini Announces Conference Call to Discuss Second Quarter 2022 Results

Tutor Perini (TPC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Tutor Perini (TPC) to Report a Decline in Earnings: What to Look Out for

NEW YORK--(BUSINESS WIRE)-- #newaward--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that it has been identified as the apparent low bidder for New Jersey Transit's Raritan River Bridge Replacement Project, with a submitted bid valued at approximately $519 million. The Raritan River Bridge Replacement Project will replace the 114-year-old bridge, connecting South Amboy, NJ and Perth Amboy, NJ, which was damaged by Superst

Tutor Perini Announces Apparent Low Bid for the $519 Million Raritan River Bridge Replacement Project

FRAMINGHAM, Mass.--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that its subsidiary, Perini Management Services, Inc., has been awarded a task order valued at approximately $85 million by the United States Coast Guard (USCG), for the design and construction of family housing at Nemetz Park Site, USCG Base Kodiak, in Kodiak, Alaska. The project scope of work includes construction of 50 family

Perini Management Services, Inc. Awarded $85 Million U.S. Coast Guard Family Housing Project in Kodiak, AK

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that its Guam-based subsidiary, Black Construction, has been awarded an $83,733,445 firm-fixed-price contract by the Naval Facilities Engineering Systems Command, Pacific District, for design and construction of wharf improvements at Naval Base Guam. The work to be performed includes the renovation and modernization of Berth 2 to provi

Black Construction Awarded $83.7 Million Wharf Improvements Project at Naval Base Guam

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that the Black Construction-Tutor Perini joint venture has been awarded the following two new projects collectively valued at approximately $122 million by the Naval Facilities Engineering Systems Command, Pacific Division: Black Construction-Tutor Perini JV was awarded a $73,020,113 firm-fixed-price task order for the construction of

Black Construction-Tutor Perini JV Awarded Two Projects in Guam Collectively Valued at $122 Million

Tutor Perini Corporation (NYSE:TPC ) Q1 2022 Earnings Conference Call May 4, 2022 5:00 PM ET Company Participants Ronald Tutor – Chairman and Chief Executive Officer Gary Smalley – Executive Vice President and Chief Financial Officer Jorge Casado – Vice President of Investor Relations Conference Call Participants Alex Rygiel – B. Riley Brent Thielman – D.A Davidson Steven Fisher – UBS Operator Good day, ladies and gentlemen.

Tutor Perini Corporation (TPC) CEO Ronald Tutor on Q1 2022 Results - Earnings Call Transcript

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (the “Company”) (NYSE: TPC), a leading civil, building and specialty construction company, reported results today for the first quarter of 2022. Revenue was $1.0 billion compared to $1.2 billion for the first quarter of last year. The decrease was primarily due to reduced project execution activities on a completed technology project and a mass-transit project that is nearing completion, both in California, as well as the impact of an adver

Tutor Perini Reports First Quarter 2022 Results

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that it will host a conference call at 2:00 PM Pacific Time on Wednesday, May 4, 2022, to discuss the Company's first quarter 2022 results. Speakers on the call from Tutor Perini will be Ronald Tutor, Chairman and CEO, and Gary Smalley, Executive Vice President and CFO. The Company plans to issue its earnings announcement the same day

Tutor Perini Announces Conference Call to Discuss First Quarter 2022 Results

LOS ANGELES--(BUSINESS WIRE)-- #newaward--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that the Black Construction-Tutor Perini joint venture has been awarded a firm fixed-price contract valued at approximately $106.8 million by the Naval Facilities Engineering Systems Command, Pacific Division (“NAVFAC”), for the construction of the Bachelor Officer Quarters-B project at Marine Corps Base Camp Blaz on Guam. This is the

Black Construction-Tutor Perini JV Awarded $106.8 Million Bachelor Officer Quarters Project in Guam

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC), a leading civil, building and specialty construction company, announced today that its Guam subsidiary, Black Construction Corporation (“Black”), has been recognized as a 2022 Top 200 Performer by the Associated Builders and Contractors (“ABC”). For over 60 years, Black has been a founding member of the Guam Contractors Association (“GCA”), an affiliate of ABC. The awards recognize the achievements of member contractors through

Black Construction Receives National Excellence in Construction Awards

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that its subsidiary, Frontier-Kemper Constructors (“Frontier-Kemper”), has been awarded a contract valued at approximately CAD$341 million (USD$267 million) by FortisBC Energy, Inc. for the tunnel component of the Eagle Mountain - Woodfibre Gas Pipeline project. The project consists of using two tunnel boring machines to bore an approx

Frontier-Kemper Awarded Tunnel Contract for Eagle Mountain - Woodfibre Gas Pipeline Project

Tutor Perini Corporation (TPC) CEO Ronald Tutor on Q4 2021 Results - Earnings Call Transcript

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (the “Company”) (NYSE: TPC), a leading civil, building and specialty construction company, reported results today for the fourth quarter and year ended December 31, 2021. Revenue for the fourth quarter and full year of 2021 was $1.0 billion and $4.6 billion, down 23% and 13%, respectively, compared to the same periods last year. The lower revenue in both the fourth quarter and full year of 2021 was primarily driven by reduced project execut

Tutor Perini Reports Fourth Quarter and Full Year 2021 Results

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that it will host a conference call at 2:00 PM Pacific Time on Thursday, February 24, 2022, to discuss the Company's fourth quarter and full year 2021 results. Speakers on the call from Tutor Perini will be Ronald Tutor, Chairman and CEO, and Gary Smalley, Executive Vice President and CFO. The Company plans to issue its earnings announ

Tutor Perini Announces Conference Call to Discuss Fourth Quarter and Full Year 2021 Results

Tutor Perini Corp (NYSE: TPC) subsidiary, Black Micro Construction Corp., has secured a firm-fixed-price contract valued at ~$161.82 million from the Naval Facilities Engineering Systems Command, Pacific Division (NAVFAC Pacific). The contract is for site development and construction of an aircraft parking apron and taxiway at the Tinian International Airport, Tinian, Commonwealth of the Northern Mariana Islands.

Tutor Perini Pockets Two Projects Valued At $218.8M

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that its subsidiary, Black Micro Construction Corp., has been awarded a firm fixed-price contract valued at $161,815,880 by the Naval Facilities Engineering Systems Command, Pacific Division (“NAVFAC Pacific”), for site development and construction of an aircraft parking apron and taxiway at the Tinian International Airport, Tinian, Co

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