Tutor Perini Corp (TPC) News & EventsTPCTutor Perini Corp

Tutor Perini Awarded $42M Contract

Tutor Perini announced that its subsidiary, Perini Management Services, has been awarded a contract valued at approximately $42M by the U.S. Army Corps of Engineers, Middle East District, Southwestern Division to complete the construction of facilities at Tabuk Air Base in the Kingdom of Saudi Arabia. The scope of work includes the completion of a helicopter maintenance hangar, warehouse facility, and Ground Support Equipment facility to support the mission of the Royal Saudi Land Forces Aviation Corps. The project also includes work required to integrate the new facilities with adjacent existing infrastructure, including airfield pavements, airfield lighting connections, airfield markings, site grading and landscaping, utilities, and utility connections. 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 Announces Quarterly Dividend Increase to 9 Cents

Tutor Perini announced that its board has declared a 9c per share quarterly cash dividend, an increase of 50% compared to the previous dividend of 6c per share. The dividend will be payable on September 3, to shareholders of record as of the close of business on August 19.

Tutor Perini Raises 2026 Adjusted EPS Guidance to $5.15-$5.45

Consensus $5.10. Tutor Perini said, "Based on the Company's strong results through the second quarter of 2026 and management's sustained confidence in its performance trajectory for the remainder of the year, the Company is raising its 2026 Adjusted EPS guidance to the range of $5.15 to $5.45 (up from the previous range of $4.90 to $5.30). The Company's adjusted EPS for 2026 will exclude the impact of share-based compensation expense, net of the associated tax benefit, as well as certain pension settlement, debt extinguishment and refinancing costs, net of tax, that are anticipated in 2026 and which are not reflective of ongoing business operations. As previously disclosed, the Company is not providing forward-looking guidance for GAAP EPS or a quantitative reconciliation of adjusted EPS guidance to GAAP EPS guidance due to the difficulty in forecasting share-based compensation expense, which fluctuates with future share price movements. Variations in share-based compensation expense could have a material impact on GAAP EPS for the guidance period. The Company's guidance continues to factor in a significant amount of contingency for various unknown or unexpected developments. The Company remains confident that Adjusted EPS for 2027 will be substantially higher than the upper end of its increased 2026 guidance due to solid earnings visibility provided by current backlog. The Company continues to experience strong demand for its services, driven by well-funded state, local and federal customers that have numerous large-scale, high-priority infrastructure projects planned over the next several years, as well as by certain commercial customers that continue to advance projects for new or renovated buildings in vibrant end markets, such as healthcare, education, and hospitality and gaming."