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.

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Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 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 (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that a joint venture comprised of the Company and Brosamer & Wall, Inc. has been awarded a contract valued at approximately $178 million by the U.S. Department of the Interior, Bureau of Reclamation, for the Friant-Kern Canal Middle Reach Capacity Correction Phase I project in central California, southeast of Visalia. The Friant-Ke

Tutor Perini Joint Venture Awarded $178 Million Friant-Kern Canal Middle Reach Capacity Correction Project

Tutor Perini Corp (NYSE: TPC) subsidiary Black Construction Corp. has secured a fixed-price contract valued at ~$122 million from the Naval Facilities Engineering Systems Command, Pacific Division. The contract is for constructing a machine gun range at the Northwest Field, Andersen Air Force Base, Guam.

Tutor Perini Bags $122M Military Range Project In Guam

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 Construction Corp., has been awarded a fixed-price contract valued at approximately $122 million by the Naval Facilities Engineering Systems Command, Pacific Division, for the construction of a machine gun range at the Northwest Field, Andersen Air Force Base, Guam. The work to be performed consists of the co

Black Construction Awarded $122 Million Military Range Project in Guam

EBIT margin up by almost 20% in Q2 despite lower sales. This shows the quality of project is improving for the firm and trends point to this continuing.

Tutor Perini: Taking Advantage Of The Spike In Infrastructure Spend

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Tutor Perini Corp (NYSE: TPC) joint venture Black Construction-Tutor Perini  has secured a fixed-price contract valued at ~$98.3 million from the Naval Facilities Engineering Systems Command, Pacific Division, to construct a bachelor officer quarters at Marine Corps Base Camp Blaz on Guam.  Tutor Perini will include the contract value in Q3 2021 backlog.

Black Construction-Tutor Perini JV Secures $98.3M Bachelor Officer Quarters Project

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 a fixed-price contract valued at approximately $98.3 million by the Naval Facilities Engineering Systems Command, Pacific Division, for the construction of a bachelor officer quarters at Marine Corps Base Camp Blaz on Guam. Black Construction is a subsidiary of the

Black Construction-Tutor Perini JV Awarded $98.3 Million Bachelor Officer Quarters Project in Guam

Tutor Perini Corporation (TPC) CEO Ronald Tutor on Q2 2021 Results - Earnings Call Transcript

Tutor Perini (TPC) delivered earnings and revenue surprises of 12.96% and 0.44%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

Tutor Perini (TPC) Q2 Earnings and Revenues Beat Estimates

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (the “Company”) (NYSE: TPC), a leading civil, building and specialty construction company, reported results today for the second quarter of 2021. Revenue was $1.22 billion, down modestly compared to $1.28 billion for the second quarter of last year. Reduced activities mostly on Building segment projects were partially offset by increased volume on Specialty Contractors segment projects. Despite the lower revenue, income from construction op

Tutor Perini Reports Second Quarter 2021 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.

Tutor Perini (TPC) Earnings Expected to Grow: What to Know Ahead of Q2 Release

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, August 4, 2021, to discuss the Company's second quarter 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 announcement the same

Tutor Perini Announces Conference Call to Discuss Second Quarter 2021 Results

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SAN CARLOS, Calif.--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that its subsidiary, Rudolph and Sletten, has received notice to proceed for a new courts facility for the Judicial Council of California in Santa Rosa, California. The new criminal courthouse is located on the Sonoma County Administration Center campus, north of downtown Santa Rosa. The site is just east of the Hall of Justice,

Rudolph and Sletten Breaks Ground on $152 Million Courthouse in Santa Rosa

Tutor Perini Corp (NYSE: TPC) subsidiary, Lunda Construction Company, has been selected by the Missouri Department of Transportation to design and construct the new I-70 Missouri River Bridge near Rocheport, Missouri. The project consists of the design and construction of two Missouri River bridges, one in each direction of travel.

Tutor Perini's Subsidiary Awarded $220m I-70 Missouri River Bridge Design-Build Project

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that a design-build team led by its subsidiary, Lunda Construction Company (“Lunda”), has been selected by the Missouri Department of Transportation for the design and construction of the new I-70 Missouri River Bridge near Rocheport, Missouri. Lunda's design team is comprised of Parsons Corporation (NYSE: PSN), Dan Brown & Associa

Lunda Construction Team Awarded $220 Million I-70 Missouri River Bridge Design-Build Project

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that Michael Smithson recently joined the Company as an Executive Vice President to lead and manage the growth and future success of the Building and Specialty Contractors segments. Previously, Mr. Smithson was a Senior Vice President at Skanska USA for nine years, where he was responsible for Skanska's heavy civil projects located wit

Michael Smithson Joins Tutor Perini to Lead the Building and Specialty Contractors Segments

Tutor Perini Corp (TPC) CEO Ronald Tutor on Q1 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 first quarter of 2021. Revenue was $1.21 billion compared to $1.25 billion for the first quarter of last year, as reduced activities on Building segment projects were mostly offset by increased volume on Specialty Contractors segment projects. Despite the slightly lower revenue, income from construction operations for th

Tutor Perini Reports First Quarter 2021 Results

SAN CARLOS, Calif.--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that its subsidiary, Rudolph and Sletten, has been awarded a design-build contract valued at approximately $269 million for a skilled nursing & memory care facility for the California Department of General Services (DGS). DGS's project client is the California Department of Veterans Affairs (CalVet). The project is located a

Rudolph and Sletten Awarded $269 Million Design-Build Veterans Skilled Nursing and Memory Care Facility

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 5, 2021, to discuss the Company's first quarter 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 announcement the same day

Tutor Perini Announces Conference Call to Discuss First Quarter 2021 Results

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that the Company has been identified by the Los Angeles County Metropolitan Transportation Authority as the low bidder for the LAX Airport Metro Connector Project. The anticipated contract value is approximately $478 million. The project scope of work includes construction of a new major transit station hub connecting the Metro Crensha

Tutor Perini Announces Low Bid for the $478 Million LAX Airport Metro Connector Project

LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, provided an update today regarding a recent settlement related to the Company's work on the Central Subway Project (the “Project”) in San Francisco. On March 2, 2021, the Board of Directors of the San Francisco Municipal Transportation Agency (“SFMTA”) approved two contract modifications pertaining to the Project totaling $146.6 million, which resolve

Tutor Perini Provides Update on Recent Settlement Related to the SFMTA Central Subway Project

Tutor Perini Corporation (TPC) CEO Ronald Tutor on Q4 2020 Results - Earnings Call Transcript

Shares of Tutor Perini (NYSE:TPC) rose in after-market trading after the company reported Q4 results. Quarterly Results Earnings per share rose 2.99% over the past year to $0.69, which beat the estimate of $0.61.

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