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 |
|---|---|---|---|
| 12/10/2024 | $38.00 | Buy | Vertical Research |
| 6/14/2024 | $14.00 → $27.00 | Neutral → Buy | UBS |
| 2/28/2022 | $19.00 → $17.00 | Buy | B. Riley Securities |
Revenue of $1.25 billion, up 19% Y/Y Income from construction operations of $65.3 million, up 34% Y/Y Diluted earnings per share ("EPS") of $0.53, up 77% Y/Y Record backlog of $19.4 billion at the end of Q1 2025, up 94% Y/Y and reflecting $2.0 billion of new awards and contract adjustments in Q1 2025 Operating cash flow of $22.9 million Reduced total debt by $128.5 million, or 24%, since year-end 2024 through the early payoff of the Term Loan B Company increases 2025 EPS guidance to $1.60 to $1.95 (from $1.50 to $1.90) Company continues to expect EPS for 2026 and 2027 to be more than double 2025 guidance Tutor Perini Corporation (the "Company") (NYSE:TPC), a leading civil,
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that its subsidiary, Fisk Electric Company ("Fisk Electric"), has been awarded an electrical services contract for the new West Tower at Cook Children's Medical Center in Fort Worth, Texas. The contract value was not disclosed. Fisk Electric's scope of work includes assisting with the design of electrical systems and providing installation of those electrical systems for a new 763,000-square-foot (sf) hospital tower, a new expansion of the south utility plant (including new 10,000 kW generation capacity), a new 305,000-sf garage with data center, and a new 25,00
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that its subsidiary, Fisk Electric Company ("Fisk Electric"), has been awarded the second phase (valued at approximately $99 million) of a guaranteed maximum price contract currently valued at approximately $166 million for electrical services for the previously announced new Harris Health hospital project on the Lyndon B. Johnson Hospital campus in Houston, Texas. Fisk Electric's scope of work includes the core and shell and tenant finish-out electrical and fire alarm components for the ground-up construction of the new hospital tower and podium. Work on the fi
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, May 7, 2025, to discuss the Company's first quarter 2025 results. Participants on the call from Tutor Perini will be Gary Smalley, CEO and President; Ryan Soroka, Executive Vice President and CFO; and Ronald Tutor, Executive Chairman. 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. Th
SAN FRANCISCO, April 3, 2025 /PRNewswire/ -- Rhumbix, a leading provider of Field & Workforce Management solutions for the construction industry, has appointed Jigisha Desai to its Board of Directors as an independent director. Desai, an experienced finance and operations executive with deep expertise in the construction and infrastructure sectors, brings a wealth of experience that will help guide Rhumbix's continued growth and innovation. Desai's appointment comes as Rhumbix expands its impact, helping contractors streamline workflows."We are thrilled to welcome Jigisha to t
Record operating cash flow of $503.5 million in 2024, up 63% Y/Y Successfully accelerated debt reduction, reducing total debt by $477 million, or 52%, from the end of 2023 through February 27, 2025, including the full payoff of the Term Loan B Record backlog of $18.7 billion as of December 31, 2024, up 84% Y/Y, driven by $12.8 billion of new awards and contract adjustments in 2024; New awards continue strong in early 2025 Revenue of $4.3 billion in 2024, up 12% Y/Y Company's considerable progress in resolving many of its largest legacy disputes generated significant operating cash flow in 2024; however, these resolutions also resulted in net charges that drove a diluted loss of
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that the Tutor Perini-Nan Joint Venture has been awarded several options by the Naval Facilities Engineering Systems Command, Marianas, for additional scope of work on the previously announced Apra Harbor Waterfront Repairs Project in Guam. The additional scope options are valued at approximately $232 million, bringing the total contract value of the project to approximately $563 million. This is a design-build construction project to repair the Apra Harbor's Glass Breakwater and restore and modernize waterfront areas that have been physically eroded and damag
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that the Tutor Perini-O&G Joint Venture is in the process of executing contract documents for the previously announced Manhattan Jail Project in New York. The City of New York recently held a public hearing regarding the proposed contract for this project between the New York City Department of Design and Construction and the Tutor Perini-O&G JV. The anticipated contract amount is $3,764,251,168. The contract term is expected to be 2,646 consecutive calendar days (seven years and three months) until final completion. The project scope includes design and constr
Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that the Company has paid off its remaining Term Loan B debt of approximately $47 million. With this latest prepayment, Tutor Perini has successfully accelerated the deleveraging of its balance sheet, reducing total debt by $477 million, or 52%, since December 31, 2023. "Our strong operating cash flow has enabled us to exceed our debt reduction commitments, further strengthening our balance sheet," said Gary Smalley, Chief Executive Officer and President. "Looking ahead, we expect to continue generating strong cash flow, explore opportunities to further enhance
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, February 27, 2025, to discuss the Company's fourth quarter and full year 2024 results. Speakers on the call from Tutor Perini will be Gary Smalley, CEO and President; Ryan Soroka, Executive Vice President and CFO; and Ronald Tutor, Executive Chairman. 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 +1-2
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-- Ronald Tutor Will Serve as Executive Chairman of the Board through 2026 -- Tutor Perini Corporation (NYSE:TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that Gary Smalley has become the Company's Chief Executive Officer and a member of its Board of Directors. Mr. Smalley, formerly President, succeeds Ronald N. Tutor who has transitioned to the role of Executive Chairman of Tutor Perini's Board of Directors after serving as Chairman and CEO since 2008. Prior to today's announcement, Mr. Smalley served as President of Tutor Perini since November 2023, when the Company announced its formal succession plan under which he would succeed
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
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Vertical Research initiated coverage of Tutor Perini with a rating of Buy and set a new price target of $38.00
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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Revenue of $1.25 billion, up 19% Y/Y Income from construction operations of $65.3 million, up 34% Y/Y Diluted earnings per share ("EPS") of $0.53, up 77% Y/Y Record backlog of $19.4 billion at the end of Q1 2025, up 94% Y/Y and reflecting $2.0 billion of new awards and contract adjustments in Q1 2025 Operating cash flow of $22.9 million Reduced total debt by $128.5 million, or 24%, since year-end 2024 through the early payoff of the Term Loan B Company increases 2025 EPS guidance to $1.60 to $1.95 (from $1.50 to $1.90) Company continues to expect EPS for 2026 and 2027 to be more than double 2025 guidance Tutor Perini Corporation (the "Company") (NYSE:TPC), a leading civil,
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, May 7, 2025, to discuss the Company's first quarter 2025 results. Participants on the call from Tutor Perini will be Gary Smalley, CEO and President; Ryan Soroka, Executive Vice President and CFO; and Ronald Tutor, Executive Chairman. 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. Th
Record operating cash flow of $503.5 million in 2024, up 63% Y/Y Successfully accelerated debt reduction, reducing total debt by $477 million, or 52%, from the end of 2023 through February 27, 2025, including the full payoff of the Term Loan B Record backlog of $18.7 billion as of December 31, 2024, up 84% Y/Y, driven by $12.8 billion of new awards and contract adjustments in 2024; New awards continue strong in early 2025 Revenue of $4.3 billion in 2024, up 12% Y/Y Company's considerable progress in resolving many of its largest legacy disputes generated significant operating cash flow in 2024; however, these resolutions also resulted in net charges that drove a diluted loss of
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, February 27, 2025, to discuss the Company's fourth quarter and full year 2024 results. Speakers on the call from Tutor Perini will be Gary Smalley, CEO and President; Ryan Soroka, Executive Vice President and CFO; and Ronald Tutor, Executive Chairman. 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 +1-2
Strong year-to-date operating cash flow of $174.0 million through September 30, 2024 Expecting record full-year 2024 operating cash flow in the range of $425 million to $575 million Planning to utilize anticipated strong 2024 cash collections to prepay $100 million to $150 million of Term Loan B debt by December 31, 2024 ($50 million of which has already been prepaid in Q4 2024), with further prepayments of $50 million to $75 million expected in Q1 2025 Record backlog of $14.0 billion at the end of Q3 2024, up 35% compared to the end of Q2 2024 and substantially higher than the previous record of $11.6 billion set in Q1 2019, with the potential for significant further growth by year-
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, November 6, 2024, to discuss the Company's third 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 $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