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Tutor Perini Corporation (TPC) is a leading construction company that provides a diverse range of general contracting, construction management, and design-build services to both private clients and public agencies worldwide. The company operates through three primary segments: Civil, Building, and Specialty Contractors.
The Civil segment focuses on public works, including the construction, replacement, and reconstruction of critical infrastructure such as highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities. This segment also offers specialized services like drilling, foundation work, and excavation support for a variety of projects.
The Building segment caters to specialized construction markets, including hospitality and gaming, transportation, healthcare, commercial offices, government facilities, sports and entertainment venues, educational institutions, correctional facilities, biotechnology, pharmaceuticals, and high-tech industries. This segment provides comprehensive services covering every aspect of the building process.
The Specialty Contractors segment delivers expert services in electrical, mechanical, and plumbing systems, as well as heating, ventilation, and air conditioning (HVAC). This segment is crucial for ensuring that all essential systems within a building are installed and maintained to the highest standards.
Recently, Tutor Perini has been involved in several major projects and has established strong partnerships within the industry. Financially, the company generates the majority of its revenue from the Civil segment, with a significant portion of its total income derived from projects in the United States. The company's ability to self-perform a wide range of construction services, including site work, concrete forming, steel erection, and mechanical installations, sets it apart from many competitors.
As an industry leader, Tutor Perini continues to take on complex and large-scale projects, contributing to the development and enhancement of infrastructure and facilities that are vital to communities around the globe.
Tutor Perini Corporation (NYSE: TPC) will host a conference call on May 4, 2023, at 2:00 PM Pacific Time to discuss its Q1 2023 results. The call will feature Ronald Tutor, Chairman and CEO, and Gary Smalley, Executive VP and CFO. An earnings announcement will be issued on the same day after market close. Participants can join by calling 877-407-8293 (international: 1-201-689-8349) five to ten minutes prior to the call. The conference will be webcast live on Tutor Perini's website, available for replay afterward. Tutor Perini, established in 1894, is recognized for delivering large construction projects on time and within budget, making it a prominent figure in the civil, building, and specialty construction sectors.
Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Black Micro Corp., secured a firm-fixed-price contract worth $221,690,757 from the Naval Facilities Engineering Systems Command Pacific. This contract involves construction work at Tinian International Airport in the Northern Mariana Islands, including a cargo pad, fuel tanks, and a maintenance support facility. There are three unexercised options that could raise the total contract value to $225,667,367. Construction is slated to begin immediately, with substantial completion expected by October 2026. This contract will be reflected in the company’s second-quarter 2023 backlog.
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