Latest news with #TutorPerini
Yahoo
3 days ago
- Business
- Yahoo
Leonard Kaae Promoted to President of Black Construction Corporation
LOS ANGELES, June 17, 2025--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that Leonard Kaae has been recently promoted to President of Black Construction Corporation ("Black Construction"), the Company's Guam-based subsidiary. Mr. Kaae has worked for Black Construction for more than 40 years, most recently leading the firm's operations and its approximately 2,000 employees as Senior Vice President and General Manager. Under Mr. Kaae's leadership, Black Construction has grown to be the largest general contractor in Guam and the second-largest employer on the island (behind the U.S. federal government). Black Construction has consistently been one of Tutor Perini's most successful and profitable business units, with a record backlog and a large pipeline of bidding opportunities that are expected to increase over the next decade as the U.S. government prioritizes funding for the Pacific Deterrence Initiative and other strategic infrastructure investments in Guam and throughout the Indo-Pacific region. "Leonard exemplifies the type of high caliber leader that Tutor Perini is very fortunate to have leading our Indo-Pacific operations. He is a consummate professional and vital to the continued growth of our business in the region and globally," said Gary Smalley, CEO and President of Tutor Perini. "We congratulate Leonard on his well-deserved promotion." About Tutor Perini Corporation Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private customers and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict safety and quality control measures. We offer general contracting, pre-construction planning and comprehensive project management services, and have strong expertise in delivering design-bid-build, design-build, construction management, and public-private partnership (P3) projects. We often self-perform multiple project components, including earthwork, excavation, concrete forming and placement, steel erection, electrical, mechanical, plumbing, heating, ventilation and air conditioning (HVAC), and fire protection. View source version on Contacts Tutor Perini CorporationJorge Casado, 818-362-8391Senior Vice President, Investor Relations and Corporate Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
3 days ago
- Business
- Business Wire
Leonard Kaae Promoted to President of Black Construction Corporation
LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the 'Company'), a leading civil, building and specialty construction company, announced today that Leonard Kaae has been recently promoted to President of Black Construction Corporation ('Black Construction'), the Company's Guam-based subsidiary. Mr. Kaae has worked for Black Construction for more than 40 years, most recently leading the firm's operations and its approximately 2,000 employees as Senior Vice President and General Manager. Under Mr. Kaae's leadership, Black Construction has grown to be the largest general contractor in Guam and the second-largest employer on the island (behind the U.S. federal government). Black Construction has consistently been one of Tutor Perini's most successful and profitable business units, with a record backlog and a large pipeline of bidding opportunities that are expected to increase over the next decade as the U.S. government prioritizes funding for the Pacific Deterrence Initiative and other strategic infrastructure investments in Guam and throughout the Indo-Pacific region. 'Leonard exemplifies the type of high caliber leader that Tutor Perini is very fortunate to have leading our Indo-Pacific operations. He is a consummate professional and vital to the continued growth of our business in the region and globally,' said Gary Smalley, CEO and President of Tutor Perini. 'We congratulate Leonard on his well-deserved promotion.' About Tutor Perini Corporation Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private customers and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict safety and quality control measures. We offer general contracting, pre-construction planning and comprehensive project management services, and have strong expertise in delivering design-bid-build, design-build, construction management, and public-private partnership (P3) projects. We often self-perform multiple project components, including earthwork, excavation, concrete forming and placement, steel erection, electrical, mechanical, plumbing, heating, ventilation and air conditioning (HVAC), and fire protection.
Yahoo
3 days ago
- Business
- Yahoo
Leonard Kaae Promoted to President of Black Construction Corporation
LOS ANGELES, June 17, 2025--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that Leonard Kaae has been recently promoted to President of Black Construction Corporation ("Black Construction"), the Company's Guam-based subsidiary. Mr. Kaae has worked for Black Construction for more than 40 years, most recently leading the firm's operations and its approximately 2,000 employees as Senior Vice President and General Manager. Under Mr. Kaae's leadership, Black Construction has grown to be the largest general contractor in Guam and the second-largest employer on the island (behind the U.S. federal government). Black Construction has consistently been one of Tutor Perini's most successful and profitable business units, with a record backlog and a large pipeline of bidding opportunities that are expected to increase over the next decade as the U.S. government prioritizes funding for the Pacific Deterrence Initiative and other strategic infrastructure investments in Guam and throughout the Indo-Pacific region. "Leonard exemplifies the type of high caliber leader that Tutor Perini is very fortunate to have leading our Indo-Pacific operations. He is a consummate professional and vital to the continued growth of our business in the region and globally," said Gary Smalley, CEO and President of Tutor Perini. "We congratulate Leonard on his well-deserved promotion." About Tutor Perini Corporation Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private customers and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict safety and quality control measures. We offer general contracting, pre-construction planning and comprehensive project management services, and have strong expertise in delivering design-bid-build, design-build, construction management, and public-private partnership (P3) projects. We often self-perform multiple project components, including earthwork, excavation, concrete forming and placement, steel erection, electrical, mechanical, plumbing, heating, ventilation and air conditioning (HVAC), and fire protection. View source version on Contacts Tutor Perini CorporationJorge Casado, 818-362-8391Senior Vice President, Investor Relations and Corporate Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Business
- Yahoo
Here's Why Tutor Perini (TPC) Fell More Than Broader Market
Tutor Perini (TPC) closed the most recent trading day at $42.08, moving -1.5% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 1.13% for the day. Elsewhere, the Dow saw a downswing of 1.79%, while the tech-heavy Nasdaq depreciated by 1.3%. The construction company's shares have seen an increase of 17.52% over the last month, surpassing the Construction sector's gain of 0.19% and the S&P 500's gain of 3.55%. Investors will be eagerly watching for the performance of Tutor Perini in its upcoming earnings disclosure. On that day, Tutor Perini is projected to report earnings of $0.29 per share, which would represent year-over-year growth of 52.63%. At the same time, our most recent consensus estimate is projecting a revenue of $1.23 billion, reflecting a 9.22% rise from the equivalent quarter last year. For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.75 per share and a revenue of $5.13 billion, signifying shifts of +155.91% and +18.65%, respectively, from the last year. Investors should also pay attention to any latest changes in analyst estimates for Tutor Perini. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Tutor Perini is carrying a Zacks Rank of #1 (Strong Buy). In terms of valuation, Tutor Perini is presently being traded at a Forward P/E ratio of 24.48. This valuation marks a premium compared to its industry average Forward P/E of 20.14. The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Keep in mind to rely on to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tutor Perini Corporation (TPC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
12-06-2025
- Business
- Yahoo
TPC Q1 Earnings Call: Backlog Hits Record, Project Execution Drives Outperformance
General contracting company Tutor Perini (NYSE:TPC) reported Q1 CY2025 results topping the market's revenue expectations , with sales up 18.8% year on year to $1.25 billion. Its GAAP profit of $0.53 per share was significantly above analysts' consensus estimates. Is now the time to buy TPC? Find out in our full research report (it's free). Revenue: $1.25 billion vs analyst estimates of $1.07 billion (18.8% year-on-year growth, 16.7% beat) EPS (GAAP): $0.53 vs analyst estimates of $0.09 (significant beat) Adjusted EBITDA: $84.32 million vs analyst estimates of $49.05 million (6.8% margin, 71.9% beat) EPS (GAAP) guidance for the full year is $1.78 at the midpoint, beating analyst estimates by 5.8% Operating Margin: 5.3%, in line with the same quarter last year Backlog: $19.4 billion at quarter end Market Capitalization: $2.13 billion Tutor Perini's first quarter results were shaped by faster-than-expected ramp-up on several large projects and broad-based revenue gains across its Civil, Building, and Specialty Contractors segments. CEO Gary Smalley explained that growth was driven by 'increased project execution activities on certain newer, higher-margin projects that all have substantial scope of work remaining,' with especially strong contributions from the Brooklyn Jail, the Honolulu Rail project, and mass transit initiatives in California. The company's operating cash flow was also notable, as collections from ongoing projects contributed to a solid start to the year. Management described the quarter as 'clean' with no significant project closeouts or dispute resolutions impacting earnings, highlighting disciplined project delivery and execution. Looking forward, Tutor Perini's updated guidance reflects continued confidence in its project pipeline and backlog conversion. Management emphasized that much of the company's anticipated earnings growth in 2025 will be driven by the ramp-up of newer, higher-margin projects and a robust backlog of awarded contracts. Smalley stated, 'We believe that this backlog will drive significant double-digit revenue growth and generate strong earnings for the foreseeable future while also serving as a catalyst for continued strong cash flow.' The company also noted contingency plans for potential risks, including project delays or lower win rates, but expects operating cash flow to remain healthy. Management reiterated that the majority of earnings for the year are expected in the second half, as newer projects accelerate and preconstruction work transitions to active construction. Management attributed the quarter's performance to strong execution on recently awarded, higher-margin projects and a record backlog, while emphasizing operational improvements and selective bidding strategies. Large project ramp-ups: Revenue growth was led by the rapid start and progress on major new projects, such as the Brooklyn Jail and the Honolulu Rail Transit, with management highlighting that these projects have significant remaining scope and are expected to contribute meaningfully over several quarters. Backlog at all-time high: The company's backlog reached $19.4 billion, nearly doubling year-over-year. This reflects successful new contract wins in transit, healthcare, and military infrastructure, including a $1.18 billion tunnel project in New York and extensive military construction in Guam. Improved project mix: Management stressed a strategic focus on bidding for projects with favorable contract terms, limited competition, and higher margins, which is expected to support both future revenue and profitability. The company's selective approach is supported by the depth of its current backlog. Cash flow drivers: Operating cash flow was positive in the first quarter, driven by collections from new and ongoing projects rather than one-off dispute resolutions. Management expects further cash collections from dispute settlements later in the year. Indo-Pacific expansion: The Indo-Pacific, especially Guam, is a growing source of opportunities, with Tutor Perini and its subsidiary Platt Construction securing roles in multiple award construction contracts (MACCs) with a combined potential value exceeding $32 billion over eight years. The company anticipates continued growth in this region as U.S. military infrastructure spending remains strong. Tutor Perini's outlook is anchored by the continued ramp-up of high-margin projects and sustained backlog growth, though management remains mindful of execution risks and external factors that could affect project timelines. Backlog conversion and project ramp: Management expects the current record backlog to drive revenue and earnings growth as newer projects transition from preconstruction into active execution, especially in the second half of the year. The company believes these projects, with improved contractual terms and higher margins, will underpin strong financial performance through 2027. Cash flow and capital allocation: With debt reduction nearly complete and operating cash flow expected to stay robust, management is considering shareholder returns, including potential dividends or share repurchases, pending further cash accumulation and Board approval. The company emphasizes a cautious approach, prioritizing long-term flexibility. Execution and external risks: Management identified risks such as project delays, lower-than-expected bid win rates, and possible adverse legal outcomes related to dispute resolutions. However, the company believes most major projects are insulated from funding or tariff risks, due to pre-committed funding and contract terms that mitigate commodity price fluctuations. In the coming quarters, StockStory analysts will monitor (1) the rate at which preconstruction projects move into active construction and begin generating revenue, (2) the ability of Tutor Perini to maintain or grow its record backlog through successful contract bids, and (3) progress on cash collections from dispute resolutions and their effect on operating cash flow. Execution on large Indo-Pacific projects and the outcome of pending high-profile bids will also be important indicators. Tutor Perini currently trades at a forward P/E ratio of 19.4×. Is the company at an inflection point that warrants a buy or sell? See for yourself in our full research report (it's free). 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