Black Construction Awarded $122 Million Military Range Project in Guam

Rhea-AI Summary

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.

Positive

• Secured a $122 million contract with the Naval Facilities Engineering Systems Command.
• Project expected to strengthen the backlog for Q3 2021.

Negative

• None.

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 construction of a multi-lane, multi-purpose machine gun range, a range control tower, ammunition distribution point and covered bleachers. The work also includes utilities, site work and incidental related work.

Preliminary work will begin immediately and the project is expected to be completed by October 2024. The contract value will be included in the Company’s third-quarter 2021 backlog.

About Tutor Perini Corporation

Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private clients and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict quality control measures.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210929005808/en/

Tutor Perini Corporation

Jorge Casado, 818-362-8391

Vice President, Investor Relations and Corporate Communications

www.tutorperini.com

Source: Tutor Perini Corporation

FAQ

What is the value of the recent contract awarded to Tutor Perini Corporation?

The recent contract awarded to Tutor Perini Corporation is valued at approximately $122 million.

What type of construction project is Tutor Perini undertaking in Guam?

Tutor Perini is constructing a multi-lane, multi-purpose machine gun range at Andersen Air Force Base in Guam.

When is the completion date for the Tutor Perini construction project in Guam?

The project is expected to be completed by October 2024.

Which division awarded the contract to Tutor Perini Corporation?

The contract was awarded by the Naval Facilities Engineering Systems Command, Pacific Division.

How will the new contract impact Tutor Perini's financials?

The contract will contribute to Tutor Perini's backlog for the third quarter of 2021.