Tutor Perini Corporation

Tutor Perini shares rose 2.7% after the company secured a $42 million contract from the U.S. Army Corps of Engineers to complete construction of facilities at Tabuk Air Base in Saudi Arabia. The contract was awarded by the USACE's Middle East district. The stock was trading at $97.48, up 3% from the previous close, and is up 40.6% since the beginning of the year.

Tutor Perini reported second-quarter revenue of $1.64 billion, beating analyst estimates of $1.57 billion, and adjusted EPS of $1.74 versus the $1.26 consensus. Management raised full-year adjusted EPS guidance to $5.30 at the midpoint, a 3.9% increase, citing higher volumes and improved execution on large-scale projects. Operating margin rose to 7.2% from 5.6% a year earlier, while backlog stood at $19.86 billion, down 5.9% year over year. CEO Gary Smalley attributed stronger Civil and Building segment margins to the ramp-up of nine recently awarded mega projects, and noted staff expansion to capture a $4.6 billion bid pipeline in the Indo-Pacific region.

Tutor Perini Corporation announced that its subsidiary Perini Management Services has been awarded a contract valued at approximately $42 million by the U.S. Army Corps of Engineers Middle East District to complete construction of facilities at Tabuk Air Base in Saudi Arabia. The scope includes finishing a helicopter maintenance hangar, warehouse facility, and Ground Support Equipment facility for the Royal Saudi Land Forces Aviation Corps, along with integration work such as airfield pavements, lighting, markings, grading, landscaping, and utilities. Design work is expected to begin in September 2026, with substantial completion anticipated in September 2028. The contract value will be added to the company's backlog in the third quarter of 2026.

Tutor Perini reported second-quarter 2026 results with sales of US$1,637.05 million and net income of US$65.74 million, while raising its quarterly dividend by 50% to US$0.09 per share and completing a US$29.99 million share repurchase program covering 414,952 shares. The company also secured a new US$69.5 million Death Valley National Park infrastructure contract that will enter backlog in the third quarter of 2026. These developments highlight how Tutor Perini is pairing higher profitability with a growing pipeline while returning more cash to shareholders.

Tutor Perini subsidiary Perini Management Services has been awarded a $69.5 million contract to rehabilitate water and wastewater treatment systems at Death Valley National Park. The project includes new potable water wells, a rebuilt reverse osmosis facility, chlorination and controls, and replacement of sewer mains, laterals, and pump stations. Work is scheduled to start in fall 2026 with substantial completion targeted for early 2029, and the contract will enter Tutor Perini's backlog in the third quarter of 2026. This award adds to the company's government-focused pipeline alongside its existing multibillion-dollar megaprojects.

Tutor Perini reported second-quarter earnings of $1.74 per share, topping the Zacks Consensus Estimate of $1.36 per share by 27.94%. Revenue came in at $1.64 billion, exceeding the consensus forecast by 4.80% and up from $1.37 billion a year earlier. The company has now beaten earnings estimates in all of the last four quarters. Shares have gained about 27.9% year to date, outpacing the S&P 500's 13% advance. The stock currently carries a Zacks Rank of 3, or Hold.

Tutor Perini Corporation announced that its subsidiary Lunda Construction has been awarded a contract valued at approximately $54.7 million to construct new bridges and make other improvements for the I-41/WIS 441 System Interchange in Outagamie County, Wisconsin. Lunda's scope of work includes constructing the interchange's two signature flyover structures: a 21-span, 3,182-foot-long bridge and a 9-span, 1,072-foot-long bridge, both pairing prestressed concrete girders with 72-inch steel plate girders over the I-41 mainline and ramp crossings. The package also includes associated interchange retaining walls, the widening and deck replacement of Wisconsin State Highway 441 over County Highway OO, and the removal of existing interchange structures over Highway I-41. The Wisconsin Department of Transportation is reconstructing the interchange as a three-level system interchange with ramps designed for 55 mph traffic, and construction will run from 2026 through 2029. The contract value will be added to Tutor Perini's backlog in the third quarter of 2026.

Tutor Perini has been added to the S&P 600, S&P 1000, S&P Composite 1500, and S&P 600 Industrials indices, putting its upcoming earnings in focus. The stock trades at $86.77, and the most followed narrative sees its fair value at $113.25, implying it is 23.4% undervalued. This valuation is supported by a record backlog of $21.1 billion, up 102% year-over-year, which provides strong revenue visibility as major projects ramp up. The company has delivered an 81.56% total shareholder return over the past year and a 25.12% year-to-date return. Investors should monitor risks such as cost overruns, project delays, and litigation tied to legacy work.

Tutor Perini Corporation announced that its subsidiary Fisk Electric Company has been awarded an electrical services contract valued at approximately $143 million for the Children's Health and UT Southwestern Medical Center New Pediatric Campus in Dallas, Texas. Fisk's scope of work includes installation of electrical systems and components for a portion of a new 4.9 million square-foot facility featuring two new 12-story towers and a new 8-story tower. The hospital towers will contain 552 inpatient rooms for various intensive care and specialty units, along with two helicopter pads and other amenity areas. Electrical construction work has recently commenced, with substantial completion anticipated in the fall of 2030, and the contract value will be reflected in the company's backlog for the second quarter of 2026.

Tutor Perini Corporation announced that its subsidiary Fisk Electric Company has been awarded an electrical project valued at approximately $29.5 million for a new commercial office building in Palm Beach, Florida. The contract was awarded by a confidential customer and covers installation of electrical systems and components for a building of about 250,000 square feet across six floors, plus a four-level parking structure with roughly 150 EV charging stations and a solar photovoltaic system above the top parking level. Electrical work has recently commenced and substantial completion is anticipated in 2029. The contract value will be included in the company's backlog for the second quarter of 2026.

Tutor Perini shares jumped nearly 8% on Tuesday after S&P Dow Jones Indices announced the construction company will join the S&P SmallCap 600 index. The change, effective before market open on Friday, July 24, is part of a reshuffle triggered by Taylor Morrison Home leaving the S&P MidCap 400 following its acquisition by Berkshire Hathaway. Krystal Biotech will move from the SmallCap 600 to fill Taylor Morrison's spot in the MidCap 400, opening a place for Tutor Perini. The rally reflects the index effect, as index funds will need to add the stock to their portfolios.

Tutor Perini Corporation announced that its subsidiary Fisk Electric Company has been awarded an electrical renovation project valued at approximately $26.9 million by a confidential customer for a healthcare facility in Houston, Texas. The project involves modernizing the facility's electrical distribution systems supporting normal, life safety, and emergency power operations, including replacement of 5kV switchgear, installation of new 480-volt and 208-volt switchboards, and a new bus riser system. Construction is currently underway with substantial completion anticipated in April 2027, and the contract value will be reflected in the company's backlog for the second quarter of 2026.

S&P Dow Jones Indices announced that Krystal Biotech will join the S&P MidCap 400, replacing Taylor Morrison Home before trading opens on July 24. The change follows Berkshire Hathaway's planned acquisition of Taylor Morrison Home, which is expected to close on or around that date. Tutor Perini will replace Krystal Biotech in the S&P SmallCap 600 on the same day. Separately, V2X will replace Avanos Medical in the S&P SmallCap 600 on July 27 after American Industrial Partners' acquisition of Avanos Medical closes.

Tutor Perini Building Corp. has been selected by the Choctaw Nation of Oklahoma for a $140 million renovation and expansion of Choctaw Casino & Resort – Pocola in Pocola, Oklahoma. The project includes interior and exterior renovations of the existing hotel and casino, covering all food and gaming venues, plus construction of a new adjacent seven-story, 130-room hotel tower with a spa, fitness center, and pool complex. Preconstruction work has been underway since 2025, and construction is expected to start in the third quarter of 2026. The contract value will be added to Tutor Perini's backlog incrementally as design milestones are met and construction phases are awarded.

Lunda Construction, a subsidiary of Tutor Perini Corporation, has been identified by the Minnesota Department of Transportation as the apparent low bidder for a $28.6 million highway project. The project, designated SP 1311-06, covers Highway 243 in Chisago County, Minnesota, and Polk County, Wisconsin, and includes grading, bituminous pavement, a reinforced soil slope, ADA improvements, and bridge construction. Work is expected to begin in the fall of 2026 with substantial completion anticipated in the fall of 2028. The contract value will be reflected in Tutor Perini's backlog for the third quarter of 2026.

Tutor Perini announced that its subsidiary Lunda Construction has been awarded a $33.45 million contract by the Minnesota Department of Transportation for Project SP 2758-75. The project, located in Hennepin and Dakota Counties on Highway 77 from Nicols Road to American Boulevard, includes grading, concrete and bituminous surfacing, installation of high-tension cable guardrail, lighting, and rehabilitation of 10 bridges. Work is expected to begin in the fall of 2026 with substantial completion anticipated in the fall of 2028. The contract value will be reflected in the company’s backlog for the third quarter of 2026.

Tutor Perini Corporation redeemed US$400,000,000 of 11.875% Senior Notes due 2029 using proceeds from a new 6.625% Senior Notes due 2033 issuance and cash on hand, while also amending and extending its revolving credit facility to July 2, 2031 with higher commitments and lower interest margins. A Philadelphia court issued an additional US$42,400,000 judgment against Tutor Perini for breaches of contract on the W and Element hotel project. The refinancing lowers interest costs and boosts liquidity, giving the company more room to absorb litigation costs and working capital swings. The new judgment adds to the legal overhang and could weigh on near-term sentiment, though execution on large projects remains the more immediate swing factor for earnings.

Tutor Perini is back in focus after a Philadelphia court imposed an additional $42.4 million judgment related to construction delays and subcontractor disputes on the dual-branded W and Element hotel project. The most followed narrative on the company sets a fair value of $113.25 against the last close at $75.89, framing the stock as meaningfully undervalued while tying that view to a record backlog now at an all-time high of $21.1 billion, up 102% year-over-year. Sustained federal and state infrastructure funding is fueling a robust project pipeline that includes the Midtown Bus Terminal, Sepulveda Transit Corridor, and Indo-Pacific Defense contracts. However, reliance on a few very large public projects and ongoing exposure to cost disputes and litigation could challenge this undervaluation story. The market is currently paying about 51.1 times earnings for Tutor Perini, compared with 42.5 times for the US construction industry and 41.1 times for peers, while the fair ratio sits higher at 58.7 times.

Zacks Equity Research identifies EMCOR Group, MasTec, Dycom Industries and Tutor Perini as well-positioned stocks within the Building Products – Heavy Construction industry, driven by AI infrastructure and data center investments. The industry, which ranks in the top 15% of over 250 Zacks industries, has collectively gained 79% over the past year, outperforming the broader construction sector and the S&P 500. MasTec, carrying a Zacks Rank #1, has seen its 2026 earnings estimate rise to $8.90 per share and is expected to grow earnings 35.9% year-over-year. Dycom, also a Zacks Rank #1, has a fiscal 2027 earnings estimate of $16.35 per share and projected growth of 36.6%. EMCOR, another Zacks Rank #1, has a 2026 earnings estimate of $29.37 per share and expected growth of 13.5%. Tutor Perini, with a Zacks Rank #2, has a 2026 earnings estimate of $5.18 per share and expected growth of 20.8%, supported by a record $19.8 billion backlog.

StockStory identifies Tutor Perini as a Russell 2000 stock worth watching, citing 17% annual revenue growth over two years and a 102% compound annual EPS growth rate, while pointing to Figs and Fortrea as stocks to avoid. Figs has seen declining active customers and a 5% annual EPS drop over four years, with a low free cash flow margin of 8.2%. Fortrea faces a 3.1% annual sales decline and negative returns on capital. Tutor Perini trades at 15.1 times forward earnings, compared to 39.5 times for Figs and 21.4 times for Fortrea.

Tutor Perini currently holds a Zacks Rank #2 (Buy) and a Value grade of A, suggesting the stock may be undervalued. The company has a P/E ratio of 14.92, well below its industry average of 27.12, and a P/B ratio of 2.78 compared to the industry average of 6.82. Its P/S ratio stands at 0.75, versus the industry average of 1.48. These metrics, combined with a strong earnings outlook, indicate Tutor Perini is an impressive value stock at the moment.

Zacks.com featured Ternium, CBOE Global Markets, Tutor Perini, Sunstone Hotel Investors, and Casey's General Stores as low-leverage stock picks amid a widespread tech sell-off. The article notes that Wall Street finished June 24, 2026, on a mixed note as investors rotated out of high-flying technology stocks, causing the Nasdaq and S&P 500 to pull back while the Dow edged higher. Against this volatile backdrop, Zacks recommends fiscally conservative companies with low debt-to-equity ratios, highlighting Ternium's 220.6% earnings per ADS improvement to $1.09 in the first quarter of 2026, CBOE's launch of its new prediction markets suite, Tutor Perini's $114 million contract for the Jones Hall Project, Sunstone Hotel Investors' agreement to sell the Hyatt Regency San Francisco for $279 million, and Casey's General Stores' new three-year strategic plan to add at least 400 stores. All five stocks carry favorable Zacks Ranks, with Ternium, CBOE, Sunstone, and Casey's holding a Zacks Rank #1 and Tutor Perini a Zacks Rank #2.

Tutor Perini Corporation has priced $400 million aggregate principal amount of 6.625% senior notes due 2033 in a private offering. The sale is expected to close on or about July 2, 2026, subject to customary conditions. The company intends to use the net proceeds, together with cash on hand, to redeem $400 million aggregate principal amount of its 11.875% Senior Notes due April 30, 2029 and pay related premiums, accrued interest, and fees. The new notes will be senior unsecured obligations guaranteed by each of the company's wholly owned domestic subsidiaries that guarantee its revolving credit facility. The offering is being made only to qualified institutional buyers under Rule 144A and outside the United States under Regulation S.

Tutor Perini Corporation has been one of the most searched-for stocks on Zacks.com, with shares returning 7.2% over the past month compared to the S&P 500's 2% gain. The company holds a Zacks Rank #2, or Buy, based on stable earnings estimate revisions, with consensus estimates of $1.36 per share for the current quarter, $5.18 for the current fiscal year, and $5.69 for the next fiscal year. Revenue growth forecasts are positive, with consensus sales estimates of $1.56 billion for the current quarter, $6.24 billion for the current fiscal year, and $6.86 billion for the next fiscal year, reflecting year-over-year increases of 13.7%, 12.7%, and 9.9% respectively. Tutor Perini reported revenues of $1.39 billion in its last quarter, an 11.5% increase year-over-year, and beat consensus EPS estimates in each of the trailing four quarters. The stock is graded A on Zacks' Value Style Score, indicating it trades at a discount to its peers.

A bullish thesis on Tutor Perini Corporation was published on InfoArb Sheets' Substack, highlighting the company's earnings acceleration phase supported by a $20 billion backlog increasingly weighted toward higher-margin projects. The company reported first quarter 2026 revenue of $1.39 billion, adjusted earnings per share growth of 58 percent to $1.03, and cash flow of $146.9 million, up 542 percent. The thesis notes that the company's net cash position strengthens its ability to pursue larger projects without joint venture partners, and upside includes 400 to 500 basis points of interest expense reduction through refinancing and about $1 billion in incremental backlog from the Midtown Bus Terminal project. Tutor Perini's share price was $77.99 as of June 18th, with a trailing price-to-earnings ratio of 53.42 and a forward price-to-earnings ratio of 14.01.