Welcome to our dedicated page for Tutor Perini Corporation news (Ticker: TPC), a resource for investors and traders seeking the latest updates and insights on Tutor Perini Corporation stock.
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) has been awarded the design and construction contract for Phase 1 South of the New American Legion Bridge I-270 Traffic Relief Plan, a significant civil works project in the U.S. The company will collaborate with AM Partners, including its subsidiary Lunda Construction and Parsons Corporation, to deliver the project. The initiative is expected to generate $12.6 billion in economic activity and create 43,400 job-years. This multi-billion dollar construction project aims to optimize travel and enhance long-term economic value while minimizing community impact.
Tutor Perini Corporation (TPC) reported Q2 2022 results, revealing a revenue decline to $0.9 billion from $1.2 billion in Q2 2021, attributed to reduced project execution. Net loss was $63 million, or $1.23 per diluted share, compared to a profit of $31.2 million in the same period last year. Strong operating cash flow totaled $58 million for the quarter and record $178.7 million year-to-date. Backlog rose 14% to $8.5 billion, driven by substantial new contracts. However, the company withdrew its 2022 earnings guidance due to uncertainties in project settlements.
Tutor Perini Corporation (NYSE: TPC) will host a conference call on August 5, 2022, at 8:00 AM Pacific Time, to discuss its second quarter 2022 results. The call will feature CEO Ronald Tutor and CFO Gary Smalley. An earnings announcement will be released the same day before market open. Interested parties can join the call by dialing 877-407-8293 or 1-201-689-8349 for international callers. A live webcast will be accessible on Tutor Perini's website, with a replay available shortly after the call.
Tutor Perini Corporation (NYSE: TPC) has been identified as the low bidder for New Jersey Transit’s Raritan River Bridge Replacement Project, with a bid of approximately $519 million. This project aims to replace a 114-year-old bridge between South Amboy and Perth Amboy, which was damaged by Superstorm Sandy in 2012. The new bridge is designed to resist future storm surges and severe weather. The anticipated contract award is expected in Q4 2022, with work commencing shortly thereafter.
Tutor Perini Corporation (NYSE: TPC) announced that its subsidiary, Perini Management Services, has secured a task order valued at approximately $85 million from the United States Coast Guard for designing and constructing family housing at Kodiak, Alaska. The project involves building 50 family housing units in duplex configurations, including related site improvements. Work is set to begin immediately, with substantial completion expected by Q3 2025. This contract will enhance the Company's backlog for Q2 2022.
Tutor Perini Corporation (NYSE: TPC) has secured an $83,733,445 contract from the Naval Facilities Engineering Systems Command to improve wharf infrastructure at Naval Base Guam. The project will modernize Berth 2 for optimal support of two loaded T-AKE vessels. Work is starting immediately and is projected for completion by September 2024. This contract will contribute to the Company's backlog for the second quarter of 2022.
Tutor Perini Corporation (NYSE: TPC) announced that the Black Construction-Tutor Perini joint venture received awards totaling approximately
Tutor Perini Corporation (NYSE: TPC) reported a net loss of $21.6 million, or $0.42 per diluted share, in Q1 2022, compared to a profit of $16.0 million, or $0.31 per diluted share, in Q1 2021. Revenue declined to $1.0 billion from $1.2 billion, attributed to reduced project activity and an adverse legal ruling. However, operating cash flow reached a record $120.7 million, driven by improved cash collection. The backlog increased to $8.3 billion, showcasing continued demand, while the EPS guidance remains between $1.15 and $1.60 for the year.
Tutor Perini Corporation (NYSE: TPC), a prominent construction firm, will host a conference call on May 4, 2022, at 2:00 PM Pacific Time, to discuss its first quarter 2022 results. The earnings announcement will be released that same day after market close. Key speakers include Ronald Tutor, Chairman and CEO, and Gary Smalley, Executive VP and CFO. Interested parties can join the call by dialing in or accessing the webcast on the company's official website.
Tutor Perini Corporation (NYSE: TPC) has secured a firm fixed-price contract worth approximately $106.8 million from NAVFAC for the construction of the Bachelor Officer Quarters-B project at Marine Corps Base Camp Blaz in Guam. This marks the second such contract awarded to the Black Construction-Tutor Perini joint venture. Funded by the Japanese government as part of a military relocation agreement, the project will include multi-story housing for officers with completion expected by December 2024. Engineering is underway and fieldwork is set to commence in July 2022.
FAQ
What is the current stock price of Tutor Perini Corporation (TPC)?
What is the market cap of Tutor Perini Corporation (TPC)?
What services does Tutor Perini Corporation provide?
What are the main segments of Tutor Perini Corporation?
What industries does Tutor Perini's Building segment serve?
Where does Tutor Perini Corporation generate most of its revenue?
What are some of the recent achievements of Tutor Perini Corporation?
What type of projects does the Civil segment of Tutor Perini work on?
What makes Tutor Perini's Specialty Contractors segment unique?
How does Tutor Perini manage its construction projects?
Can Tutor Perini self-perform construction services?
Where can I find the latest news about Tutor Perini Corporation?
