Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction and the replacement and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, military defense facilities, and water management and wastewater treatment facilities. This segment also provides drilling, foundation, and excavation support for shoring, bridges, piers, roads, and highway projects. The Building segment offers services in various specialized building markets, including hospitality and gaming, transportation, health care, commercial offices, government facilities, sports and entertainment, education, correctional facilities, biotech, pharmaceutical, and industrial and high-tech. The Specialty Contractors segment provides electrical, mechanical, plumbing, fire protection systems, and pneumatically placed concrete services, as well as heating, ventilation, and air conditioning services (HVAC) for the industrial, commercial, hospitality and gaming, and mass-transit end markets. It also offers general contracting, pre-construction planning, and project management services, including planning and scheduling of manpower, equipment, materials, and subcontractors; and self-performed construction services comprising site work, concrete forming and placement, steel erection, electrical, plumbing, HVAC, and mechanical. The company was formerly known as Perini Corporation and changed its name to Tutor Perini Corporation in 2009. Tutor Perini Corporation was founded in 1894 and is headquartered in Sylmar, California.
IPO Year: 1970
Exchange: NYSE
Website: tutorperini.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
6/14/2024 | $14.00 → $27.00 | Neutral → Buy | UBS |
2/28/2022 | $19.00 → $17.00 | Buy | B. Riley Securities |
Gary Smalley appointed as President and will succeed Ronald Tutor as Chief Executive Officer Ryan Soroka appointed as Senior Vice President and Chief Financial Officer Tutor Perini Corporation (the "Company") (NYSE:TPC), a leading civil, building and specialty construction company, today announced that its Board of Directors (the "Board") has appointed Gary Smalley, the Company's current Executive Vice President and Chief Financial Officer, to the position of President, effective November 15, 2023. The Company plans for Mr. Smalley to succeed Ronald Tutor as Chief Executive Officer of the Company effective January 1, 2025, with Mr. Tutor transitioning to the role of Executive Chairma
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that the Company, in a joint venture with its subsidiary, Black Construction Corporation, has been awarded a contract by the Naval Facilities Engineering Systems Command, Pacific District, for the P-324 9th Engineering Support Battalion Headquarters Project at Marine Corps Base Guam. The scope of work includes constructing low-rise facilities to support the 3rd Marine Expeditionary Force, 9th Engineering Support Battalion. Buildings will feature reinforced concrete structural frame walls, floor, roof and a concrete shallow foundation system. The administration b
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that its subsidiary, Five Star Electric, has been awarded a subcontract by AECOM-Hunt for a two-phased undertaking to provide lighting, lighting controls and associated electrical branch wiring for the new JFK Terminal 6 (T6) currently under construction at John F. Kennedy International Airport and set to open in 2026. Work is expected to begin immediately with substantial completion anticipated in the first quarter of 2026 for the first phase and the first quarter of 2028 for the second phase. AECOM-Hunt is the design-build partner of JFK Millennium Partners, t
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that its subsidiary, Rudolph and Sletten, has begun construction of the Stanford Hospital Pod E Renovation project in Palo Alto, California. The scope of work consists of renovations to a four-story 62,000 square-foot (sf) portion of the existing acute care hospital for upgraded inpatient nursing units for cancer patient recovery. The project also includes converting dual-bed patient rooms into single-patient rooms and the upgrade and/or replacement of mechanical, electrical, plumbing, information technology and medical equipment systems. Additionally, two four-
CHANTILLY, Va., Aug. 20, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN), a global leader in rail and transit, environment solutions, aviation, and engineering, will serve as the lead designer on the Honolulu Authority for Rapid Transportation's (HART) City Center Guideway and Stations Project in Honolulu, Hawaii. The company is a subcontractor to Tutor Perini Corporation (NYSE:TPC), a leading civil, building and specialty construction company, on the $1.66 billion project. "We are proud to lead the industry in rail and transit design with an innovative approach and commitment to excellence that ensures we deliver cutting-edge solutions that meet the evolving needs of our clients
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that it has been awarded a contract valued at approximately $1.66 billion by the Honolulu Authority for Rapid Transportation (HART) for the City Center Guideway and Stations Project in Honolulu, Hawaii. The contract is expected to be executed in mid-September. The project scope of work includes the design and construction of six rail stations and approximately three miles of elevated rail guideway beginning just east of the existing Middle Street Transit Center Station and ending at the Civic Center Station, which will be located just east of downtown Honolulu.
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that its subsidiary, WDF, Inc., has been awarded a project valued at approximately $35.5 million by the New York City Housing Authority to construct a new boiler plant at George Washington Carver Houses, a 13-building public housing development in Manhattan. The scope of work includes replacement of the existing boiler plant with new boilers, domestic hot water heaters and sump pumps serving the facility. Work is expected to begin this month with substantial completion anticipated in January 2027. The contract value was added to the Company's backlog in the se
Strong operating cash flow of $53.1 million in Q2 2024 and $151.4 million in the first six months of 2024 Revenue of $1.1 billion in Q2 2024, up 10% compared to Q2 2023 Backlog of $10.4 billion at the end of Q2 2024, up modestly compared to the end of Q1 2024; anticipating continued strong backlog growth in 2024 and 2025 Affirming 2024 EPS guidance in range of $0.85 to $1.10 Tutor Perini Corporation (the "Company") (NYSE:TPC), a leading civil, building and specialty construction company, reported results today for the second quarter of 2024. The Company generated $53.1 million of cash from operating activities in the second quarter of 2024 compared to $56.3 million for the same
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that it will host a conference call at 2:00 PM Pacific Time on Thursday, August 1, 2024, to discuss the Company's second quarter 2024 results. Speakers on the call from Tutor Perini will be Ronald Tutor, Chairman and CEO; Gary Smalley, President; and Ryan Soroka, Senior Vice President and CFO. The Company plans to issue its earnings announcement the same day after the market close. To participate in the conference call, please dial 877-407-8293 five to ten minutes prior to the scheduled time. International callers should dial 1-201-689-8349. The conference
Tutor Perini Corporation (NYSE:TPC), a leading civil, building and specialty construction company, announced today that Elevate Inglewood Partners ("EIP"), a public-private partnership consortium comprised of Plenary Americas US Holdings, Inc. (equity member), Tutor Perini Corporation (lead contractor), Parsons Corporation (NYSE:PSN) (lead designer), Woojin Industrial Systems Co., Ltd. (automated transit system operator and supplier) and Alternate Concepts, Inc. (lead operations and maintenance contractor), has been selected as the Best Value Proposer by the City of Inglewood (the "City") for the Inglewood Transit Connector ("ITC") Project. The project will include the design, construction,
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that its subsidiary, Perini Management Services, Inc., has been awarded a contract valued at approximately $48.6 million by the National Park Service for the Alcatraz Island Historic Structures Stabilization and Rehabilitation Project. Located in the San Francisco Bay, the project will address deterioration and structural deficiencies associated with the Alcatraz Main Prison Building, which includes both interior and exterior work. The scope of work includes abatement of hazardous materials in the exterior walls and interior construction areas, repair of concret
UBS upgraded Tutor Perini from Neutral to Buy and set a new price target of $27.00 from $14.00 previously
B. Riley Securities reiterated coverage of Tutor Perini with a rating of Buy and set a new price target of $17.00 from $19.00 previously
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Funded By IIJA And Federal Grant; Work To Begin Late Summer 2024, Completion Anticipated In 2031; Tutor Perini's 30% Share Added To Q2 2024 Backlog
Shares of AMMO, Inc. (NASDAQ:POWW) fell sharply during Friday's session following fourth-quarter results. AMMO reported a fourth-quarter profit of 1 cent per share, compared to market expectations for a loss of 1 cent per share. The company reported quarterly sales of $40.42 million topping estimates of $37.90 million, according to data from Benzinga Pro. AMMO shares dipped 19.1% to $2.0306 on Friday. Here are some other stocks moving in today’s mid-day session. Gainers Kaival Brands Innovations Group, Inc. (NASDAQ:KAVL) shares jumped 345% to $6.06. SRIVARU Holding Limited (NASDAQ:SVMH) gained 150% to $0.3852 after the company announced it will begin accepting paid reserva
U.S. stocks were mostly lower, with the Dow Jones index falling around 300 points on Friday. Shares of Hasbro, Inc. (NASDAQ:HAS) rose sharply during Friday's session after B of A Securities upgraded the stock from Neutral to Buy and raised its price target from $70 to $80. Hasbro shares gained 5.5% to $61.22 on Friday. Here are some other big stocks recording gains in today’s session. Disc Medicine, Inc. (NASDAQ:IRON) shares gained 15.6% to $45.29. Disc Medicine announced a $178 million underwritten offering of 4.944 million shares at $36 per share. UroGen Pharma Ltd. (NASDAQ:URGN) rose 15.4% to $20.19. UroGen Pharma recently announced an 82.3% 12-month duration of response i
UBS analyst Steven Fisher upgrades Tutor Perini (NYSE:TPC) from Neutral to Buy and raises the price target from $14 to $27.
Work is commencing in the second quarter of 2024 and substantial completion is anticipated in the third quarter of 2027. The contract value will be included in the Company's backlog beginning in the second quarter of 2024.
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that its subsidiary, Tutor Perini Building Corp., has been awarded a contract valued at approximately $228.6 million by the Broward County Board of County Commissioners for the Terminal Connectors Project at Fort Lauderdale-Hollywood International Airport (FLL). The scope of work includes construction of enclosed post-security walkways between Terminals 1 and 2 and Terminals 2 and 3. The project also includes modifications to existing terminals, such as enhanced security checkpoints, an upgraded bag hall, an expanded passenger gate-area hold room, and more retail
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Strong operating cash flow of $53.1 million in Q2 2024 and $151.4 million in the first six months of 2024 Revenue of $1.1 billion in Q2 2024, up 10% compared to Q2 2023 Backlog of $10.4 billion at the end of Q2 2024, up modestly compared to the end of Q1 2024; anticipating continued strong backlog growth in 2024 and 2025 Affirming 2024 EPS guidance in range of $0.85 to $1.10 Tutor Perini Corporation (the "Company") (NYSE:TPC), a leading civil, building and specialty construction company, reported results today for the second quarter of 2024. The Company generated $53.1 million of cash from operating activities in the second quarter of 2024 compared to $56.3 million for the same
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that it will host a conference call at 2:00 PM Pacific Time on Thursday, August 1, 2024, to discuss the Company's second quarter 2024 results. Speakers on the call from Tutor Perini will be Ronald Tutor, Chairman and CEO; Gary Smalley, President; and Ryan Soroka, Senior Vice President and CFO. The Company plans to issue its earnings announcement the same day after the market close. To participate in the conference call, please dial 877-407-8293 five to ten minutes prior to the scheduled time. International callers should dial 1-201-689-8349. The conference
Strong operating cash flow of $98.3 million in Q1 2024, up 361% compared to $21.3 million in Q1 2023 Revenue of $1.05 billion in Q1 2024, up 35% compared to Q1 2023 Diluted earnings per share ("EPS") of $0.30 in Q1 2024 compared to diluted loss per share of $0.95 in Q1 2023 Backlog grew to $10.0 billion, up 26% year-over-year; anticipating continued strong backlog growth in 2024 and 2025 Strengthened balance sheet with debt refinancing Tutor Perini Corporation (the "Company") (NYSE:TPC), a leading civil, building and specialty construction company, reported results today for the first quarter of 2024. The Company generated $98.3 million of cash from operating activities in t
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that it will host a conference call at 2:00 PM Pacific Time on Thursday, April 25, 2024, to discuss the Company's first quarter 2024 results. Speakers on the call from Tutor Perini will be Ronald Tutor, Chairman and CEO; Gary Smalley, President; and Ryan Soroka, Senior Vice President and CFO. The Company plans to issue its earnings announcement the same day after the market close. To participate in the conference call, please dial 877-407-8293 five to ten minutes prior to the scheduled time. International callers should dial 1-201-689-8349. The conference
Record operating cash flow of $308.5 million in 2023, up 49% compared to the prior record of $207.0 million in 2022 Term Loan B was paid down by an additional $91 million on February 23, 2024, earlier than required Backlog increased 28% year-over-year to $10.2 billion, providing visibility for strong revenue growth Backlog is expected to continue to grow significantly in 2024 and 2025, as the Company is tracking more than $32 billion of near-term opportunities over this period Senior Notes refinancing is underway, with transaction expected to be completed by the end of April 2024 Establishing initial EPS guidance for 2024 in the range of $0.85 to $1.10 Tutor Perini Corpor
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that it will host a conference call at 2:00 PM Pacific Time on Wednesday, February 28, 2024, to discuss the Company's fourth quarter and full year 2023 results. Speakers on the call from Tutor Perini will be Ronald Tutor, Chairman and CEO; Gary Smalley, President; and Ryan Soroka, Senior Vice President and CFO. The Company plans to issue its earnings announcement the same day after the market close. To participate in the conference call, please dial 877-407-8293 five to ten minutes prior to the scheduled time. International callers should dial 1-201-689-8349
Strong operating cash flow of $103.2 million in Q3 2023 was the second-highest result for any third quarter since the merger of Tutor-Saliba Corporation and Perini Corporation in 2008 and up 42% compared to $72.6 million in Q3 2022; year-to-date operating cash flow of $180.8 million was also the second-highest result for the first nine months of any year since the 2008 merger Backlog grew to $10.6 billion, up 28% year-over-year compared to $8.4 billion at Q3 2022; anticipating continued strong backlog growth in 2024 Tutor Perini Corporation (the "Company") (NYSE:TPC), a leading civil, building and specialty construction company, reported results today for the third quarter of 2023. R
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that it will host a conference call at 2:00 PM Pacific Time on Thursday, November 9, 2023, to discuss the Company's third quarter 2023 results. Speakers on the call from Tutor Perini will be Ronald Tutor, Chairman and CEO, and Gary Smalley, Executive Vice President and CFO. The Company plans to issue its earnings announcement the same day after the market close. To participate in the conference call, please dial 877-407-8293 five to ten minutes prior to the scheduled time. International callers should dial 1-201-689-8349. The conference call will be webcas
Revenue of $1.02 billion in Q2 2023, up 19% compared to $861.0 million in Q2 2022 Solid operating cash flow of $56.3 million in Q2 2023 compared to $58.0 million in Q2 2022; year-to-date operating cash flow of $77.7 million was the second-highest result for the first six months of any year since the merger of Tutor-Saliba Corporation and Perini Corporation in 2008 Backlog grew to $10.9 billion, up 27% year-over-year compared to $8.5 billion at Q2 2022; anticipating continued strong backlog growth over the next several quarters Tutor Perini Corporation (the "Company") (NYSE:TPC), a leading civil, building and specialty construction company, reported results today for the second
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that it will host a conference call at 2:00 PM Pacific Time on Thursday, August 3, 2023, to discuss the Company's second quarter 2023 results. Speakers on the call from Tutor Perini will be Ronald Tutor, Chairman and CEO, and Gary Smalley, Executive Vice President and CFO. The Company plans to issue its earnings announcement the same day after the market close. To participate in the conference call, please dial 877-407-8293 five to ten minutes prior to the scheduled time. International callers should dial 1-201-689-8349. The conference call will be webcast