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 (TPC) is a leading construction services provider specializing in complex infrastructure and building projects. This page serves as the definitive source for official company announcements, financial updates, and operational developments.
Key resources include: Quarterly earnings reports, project award notices, regulatory filings, and leadership updates. Investors and industry professionals can monitor progress on major civil infrastructure initiatives, building segment contracts, and specialty construction milestones.
The curated news archive enables tracking of TPC's strategic positioning in markets including transportation, water infrastructure, and specialized facilities construction. Content is updated press releases and verified financial disclosures, maintaining compliance with SEC regulations.
Bookmark this page for direct access to TPC's corporate communications, including contract awards from government agencies and private sector partners. Regular updates provide insights into the company's project pipeline and operational health.
Tutor Perini Corporation (NYSE: TPC) announced its joint venture with Black Construction has secured a fixed-price contract worth approximately $98.3 million from the Naval Facilities Engineering Systems Command for constructing bachelor officer quarters at Marine Corps Base Camp Blaz, Guam. Funded by the Japanese government, the project involves building a multi-story housing tower and aims for substantial completion by May 2024. Engineering work is ongoing, with field activities expected to commence in November 2021 and will contribute to the company's third-quarter 2021 backlog.
Tutor Perini Corporation (NYSE: TPC) reported second-quarter 2021 revenue of $1.22 billion, a decrease from $1.28 billion in Q2 2020, primarily due to reduced activity in the Building segment. However, income from construction operations rose 19% to $68.8 million, driven by higher-margin projects. Net income surged to $31.2 million, or $0.61 per diluted share, compared to $18.7 million, or $0.37 per diluted share, a year earlier. The backlog stands at $7.5 billion, down from $8.3 billion at the end of 2020, with new awards totaling $0.6 billion. The company affirms its EPS guidance of $1.80 to $2.20.
Tutor Perini Corporation (NYSE: TPC) will host a conference call on August 4, 2021, at 2:00 PM PT to discuss its second quarter 2021 results. Ronald Tutor, Chairman and CEO, along with Gary Smalley, Executive VP and CFO, will present the details. The earnings announcement will be made after market close on the same day. To join the call, participants can dial in five to ten minutes early. The call will also be available via live webcast on Tutor Perini's website, with replays accessible shortly after the session.
Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Rudolph and Sletten, has received notice to proceed with the construction of a new criminal courthouse for the Judicial Council of California in Santa Rosa. The facility will encompass 15 courtrooms within a six-story building totaling 169,147 square feet, replacing the existing courthouse. This project aims to enhance operational efficiencies while providing modern amenities, including jury assembly rooms and secure holding areas. Construction commenced in June 2021, with completion expected by July 2023, and is included in the company's second-quarter 2021 backlog.
Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Lunda Construction Company, 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. The project includes two bridges to facilitate traffic flow with minimal disruption. Design work will begin after contract execution, with construction expected to start later this year and substantial completion by the end of 2024. The project budget is set at $220 million, which will contribute to TPC's backlog in Q3 2021.
Tutor Perini Corporation (NYSE: TPC) announced the appointment of Michael Smithson as Executive Vice President to oversee growth in the Building and Specialty Contractors segments. Smithson brings nine years of experience from Skanska USA, where he led heavy civil projects in Los Angeles and the western U.S. He holds degrees from Purdue University and the University of Illinois. Ronald Tutor, the CEO, expressed optimism about Smithson's contributions to the company's future growth.
Tutor Perini Corporation (NYSE: TPC) reported first-quarter 2021 results, showing revenue of $1.21 billion, slightly down from $1.25 billion year-over-year due to reduced activities in the Building segment. However, income from construction operations increased by 5% to $49.7 million, driven by higher-margin Civil segment projects. Net income was $16.0 million, or $0.31 per diluted share, reflecting a rise in effective tax rates. Backlog remained solid at $8.1 billion, with new awards totaling $1.0 billion, including significant government contracts. The company affirms EPS guidance of $1.80 to $2.20.
Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Rudolph and Sletten, has secured a $269 million design-build contract for a skilled nursing and memory care facility for the California Department of General Services. The facility will be located at the historic Yountville Veterans Home and will replace three existing structures, providing 240 beds for aged or disabled veterans. The project design will meet LEED Gold standards and is set to commence this spring, with anticipated completion by the end of 2023.
Tutor Perini Corporation (NYSE: TPC) announced a conference call scheduled for May 5, 2021, at 2:00 PM Pacific Time to discuss its first quarter 2021 results. The call will feature Ronald Tutor, Chairman and CEO, and Gary Smalley, Executive Vice President and CFO. The earnings announcement will be released the same day after market close. Participants can join by dialing 877-407-8293 or +1-201-689-8349 for international callers. The conference call will also be webcast live on Tutor Perini's website.
Tutor Perini Corporation (NYSE: TPC) has been selected by the Los Angeles County Metropolitan Transportation Authority as the low bidder for the LAX Airport Metro Connector Project, valued at approximately $478 million. This project entails creating a new major transit station hub that connects the Metro Crenshaw/LAX and Green rail lines, along with various bus routes to the LAX Automated People Mover. Construction is expected to start in Q3 2021 and be substantially completed by Q1 2025. The contract value will be booked into backlog in Q1 2021.
