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Tutor Perini - TPC STOCK NEWS

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Overview of Tutor Perini Corporation

Tutor Perini Corporation is a diversified construction firm renowned for its expertise in general contracting, construction management, and design-build services. With deep roots in infrastructure and complex building projects, the company operates across a broad spectrum of the construction industry, incorporating technical excellence and operational efficiency. By integrating advanced construction management techniques with a diversified service portfolio, Tutor Perini facilitates the development and rehabilitation of key public works and specialized building projects. This includes large-scale infrastructure initiatives such as highways, bridges, tunnels, and water management facilities, alongside a variety of building projects spanning healthcare, education, hospitality, industrial, and governmental segments.

Service Segments and Operational Scope

The firm is strategically organized into three major segments, each enhancing its competitive capabilities in distinct market sectors:

  • Civil Segment: This division focuses on public works projects, including the construction, replacement, and reconstruction of critical infrastructural elements. Projects in this segment involve highways, bridges, tunnels, mass-transit systems, and key water management structures such as water treatment and wastewater facilities. The segment also incorporates drilling, foundation work, and excavation services which are essential for supporting large-scale infrastructure developments.
  • Building Segment: Catered to a diverse range of specialized markets, the building segment handles projects in sectors such as hospitality, gaming, healthcare, commercial offices, government facilities, education, correctional centers, biotech, pharmaceutical facilities, and industrial/high-tech constructions. This segment is noted for its capacity to manage intricate and high-standard building projects that require tailored construction solutions and technical precision.
  • Specialty Contractors Segment: This portion of the business addresses niche construction requirements by offering specialized contracting services. It includes expert support in electrical, mechanical, and other specialty-related services that complement the company’s larger construction projects, ensuring that even the most complex aspects of a project are managed with precision.

Technical Capabilities and Industry Expertise

Tutor Perini Corporation has built a reputation for technical rigor and execution excellence. Leveraging state-of-the-art construction methodologies and technology, the company is adept at handling multifaceted projects that often require coordination among various stakeholders, including public agencies and private corporations. The integration of design-build strategies exemplifies its ability to streamline a project’s lifecycle—reducing inefficiencies and ensuring adherence to both budget and timelines. The technical vocabulary, including terms such as infrastructure development and construction management, is seamlessly woven into its operations, signifying its commitment to industry best practices and enhanced project outcomes.

Market Position and Competitive Landscape

Within the competitive construction landscape, Tutor Perini stands out by its diversified approach. Its integrated business model allows it to offer comprehensive services that range from initial construction planning to final implementation. This multifaceted expertise provides the company with a robust competitive position, enabling it to address the needs of both large-scale governmental projects and specialized private sector demands. By juxtaposing broad service offerings with targeted technical support, Tutor Perini is able to manage the complexities and regulatory requirements often inherent in public projects while also delivering bespoke solutions for private markets.

Customer Focus and Global Outreach

The company’s clientele spans a wide spectrum of sectors. Public agencies rely on its proven track record in civil infrastructure, while private enterprises in healthcare, education, and entertainment sectors value its innovative design-build strategies and precise project management. Although its key geographic focus has been within the United States, its operational strategies and project management methodologies have enabled it to undertake projects on a worldwide scale. The diversification in its client base not only minimizes risk but also exemplifies its adaptability and comprehensive industry experience.

Operational Excellence and Strategic Integration

Tutor Perini Corporation is recognized for its methodical approach to integrating various phases of a construction project—from design and planning to execution and quality control. Its operational structure, which combines both traditional contracting services and modern design-build techniques, is designed to manage a project’s lifecycle efficiently. This integration reduces project risks and ensures that all technical details are addressed through specialized segments. The company's emphasis on quality, safety, and technical compliance underscores its commitment to delivering projects that meet stringent industry standards.

Deep Industry Knowledge and Project Execution

Within the realm of public works and specialized building projects, Tutor Perini’s operational expertise is reflected in its execution of complex projects that require precise coordination of multiple construction disciplines. The company’s enduring presence in the field is supported by its capacity to tackle diverse challenges, adapt to evolving regulatory environments, and implement cutting-edge construction technologies. This focus on continuous improvement and innovation, combined with comprehensive project management capabilities, has cemented its reputation as a trusted partner for high-stakes construction endeavors.

Conclusion

In summary, Tutor Perini Corporation is a multifaceted construction firm that leverages its extensive experience and technical proficiency to deliver a wide range of construction services. Its three integrated business segments—Civil, Building, and Specialty Contractors—highlight its ability to address a vast array of infrastructural and building-related needs. By consistently applying industry best practices and innovative construction strategies, Tutor Perini has established a robust reputation founded on operational excellence, meticulous project management, and a commitment to quality. This detailed, expert-level insight into its business model serves as a resource for understanding its role in the broader construction industry while emphasizing its technical capabilities and diversified service offerings.

Rhea-AI Summary

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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FAQ

What is the current stock price of Tutor Perini (TPC)?

The current stock price of Tutor Perini (TPC) is $20.39 as of April 4, 2025.

What is the market cap of Tutor Perini (TPC)?

The market cap of Tutor Perini (TPC) is approximately 1.1B.

What are Tutor Perini Corporation's primary services?

Tutor Perini offers general contracting, construction management, and design-build services. These services cater to both large-scale public works and specialized private projects.

How is the company organized in terms of business segments?

The corporation operates through three primary segments: Civil, Building, and Specialty Contractors. Each segment targets distinct market needs, ranging from infrastructure projects to specialized building and technical contracting services.

What does the Civil segment focus on?

The Civil segment is dedicated to public works projects including highways, bridges, tunnels, mass-transit systems, and water management facilities. It also handles foundational work such as drilling and excavation for large infrastructure developments.

Which industries benefit from the Building segment?

The Building segment serves a variety of markets including hospitality, gaming, healthcare, education, commercial offices, and high-tech industrial facilities, among others. It is tailored to meet the specific needs of these diverse sectors.

What types of projects fall under the Specialty Contractors segment?

The Specialty Contractors segment provides technical services such as electrical and mechanical contracting. These services support both public and private projects by addressing niche requirements within complex construction endeavors.

Who are the typical customers of Tutor Perini Corporation?

Tutor Perini serves a broad range of customers, including public agencies involved in infrastructural developments and private enterprises in sectors like healthcare, education, commercial real estate, and industrial markets.

How does Tutor Perini differentiate itself in the construction industry?

The company differentiates itself through a diversified service model that integrates conventional contracting with design-build strategies. This integrated approach allows for efficient project management and adaptation to various construction challenges.

What geographic markets does Tutor Perini primarily serve?

While Tutor Perini has a significant operational footprint in the United States, its methodologies and project execution standards enable it to undertake projects on a global scale.

Why is Tutor Perini considered a reputable player in its field?

The company is recognized for its technical expertise, commitment to quality, and extensive experience in managing complex construction projects. Its structured approach and diversified portfolio enhance its credibility and reliability.

What role does technology and integrated project management play in Tutor Perini's operations?

The use of advanced construction technologies and a well-integrated project management system allows Tutor Perini to streamline processes, reduce inefficiencies, and effectively manage the full lifecycle of complex construction projects.
Tutor Perini

NYSE:TPC

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TPC Stock Data

1.07B
43.47M
17.38%
76.92%
2.58%
Engineering & Construction
General Bldg Contractors - Nonresidential Bldgs
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United States
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