Key Developments: Tutor Perini Corp (TPC)
17.80USD
24 May 2013
$-0.15 (-0.84%)
$17.95
$17.92
$18.00
$17.54
97,937
293,674
$19.38
$9.21
Latest Key Developments (Source: Significant Developments)
Tutor Perini Corp Reaffirms FY 2013 Guidance
Tutor Perini Corp reaffirmed fiscal 2013 guidance and expects revenue to be range between $4.5 billion and $5.0 billion, diluted earnings per share (EPS) to range between $1.65 and $1.90. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4.5 billion and EPS of $1.85 for fiscal 2013. Full Article
Tutor Perini Corp's Joint Venture Receives California High-Speed Rail Design-Build Contract
Tutor Perini Corp announced that its joint venture's bid, valued at approximately $985 million, was recently identified by the California High-Speed Rail Authority as the apparent value for the design and construction of the initial Madera to Fresno segment of the California high-speed rail system. The Authority's Board of Directors is expected to approve the design-build contract for this project in the coming weeks. Initial work on this project is planned to begin by July 2013. The project is anticipated to create more than 1,000 construction jobs per year over its four-year duration. Full Article
Tutor Perini Corp Secures Construction Contract for Hudson Yards South Tower in New York City
Tutor Perini Corp announced that its subsidiary, Tutor Perini Building Corp., was recently awarded a construction contract by Related Companies ("Related") and Oxford Properties Group to build the South Tower at Hudson Yards, a 26-acre mixed-use development in midtown Manhattan. The 1.7 million-square-foot, 47-story South Tower, located at the northeast corner of 10th Avenue and 30th Street, will be the future home of Coach, Inc.`s world headquarters. Construction commenced on the anticipated LEED Gold tower late last year and is expected to be complete in 2015. Kohn Pedersen Fox Associates is the architect and Thornton Tomasetti is the structural engineer. Tutor Perini`s contract value will be included as part of the Company`s reported first quarter backlog. The contract value excludes certain subcontractor costs which Related will retain through its direct contracts with those subcontractors, but includes an anticipated profit amount that is based on the total construction value of the South Tower project. Tutor Perini is working closely with the Building and Construction Trades Council of Greater New York and its affiliated unions. The Hudson Yards development is expected to create nearly 23,000 construction jobs. Related Companies and Oxford Properties Group retained Tutor Perini as the general contractor for Hudson Yards in January 2012. Full Article
Tutor Perini Corp Issues FY 2013 Revenue Guidance; EPS Guidance Below Analysts' Estimates
Tutor Perini Corp announced that for fiscal 2013, it expects revenue to be range between $4.5 billion and $5.0 billion, diluted earnings per share (EPS) to range between $1.65 and $1.90. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4.5 billion and EPS of $2.06 for fiscal 2013. Full Article
Tutor Perini Corp's Subsidiary Secures Two Signal System Modernization Contracts Valued at $225 Million From MTA New York City Transit
Tutor Perini Corp announced that its subsidiary, Five Star Electric, has recently been awarded two signal system modernization contracts by MTA New York City Transit. The first contract is for the 71st Street-Continental Avenue and Union Turnpike Interlockings and the second is for the Roosevelt Avenue Interlocking. These two projects totaling $225.5 million will rehabilitate and modernize the signal systems at the existing interlockings, both on the Queens Line. The projects include the design and construction of relay rooms, design and installation of the signal work, and architectural, structural, track, traction power, mechanical, utilities, electrical, environmental, communications, SONET/ATM and fiber network work. Both projects are expected to start this month and completion is expected in the first quarter of 2017. Full Article
Tutor Perini Corp's Subsidiary Secures $116 Million Contract For I-35E Cayuga Bridge Project
Tutor Perini Corp announced that Civil Group subsidiary, Lunda Construction Company, in a joint venture with Shafer Contracting, has been awarded a $116 million contract by the Minnesota Department of Transportation for the I-35E Cayuga Bridge Project in St. Paul, Minnesota. The project includes updating two urban interstate interchanges, adding an additional interchange, and reconstructing a two-mile segment of Interstate I-35E in St. Paul, Minnesota. The project scope also includes the construction of 11 new bridges, multiple retaining walls, utilities, grading, signing, and pavement along the corridor. The Cayuga Project is a transportation infrastructure project in MnDOT's Metro District which will improve safety and operational concerns along the Interstate I-35E corridor. The project is expected to begin in January 2013 with final completion anticipated in October 2015. Full Article
Tutor Perini Corp Secures $235 Million Contract For Verrazano-Narrows Bridge Upper Level Deck Replacement
Tutor Perini Corp announced that it has been awarded a $235 million contract by the New York Metropolitan Transportation Authority (MTA) Bridges and Tunnels for the Upper Level Deck Replacement project at the Verrazano-Narrows Bridge in New York. The project involves the replacement of the existing concrete-filled steel grid deck at the upper level with a new steel orthotropic deck. Work is expected to be completed in four main stages and includes the installation of new finger joints, a bridge barrier, bridge drainage system, orthotropic deck waterproofing, Rosphalt asphalt overlay, new sign structures, and upper and lower deck roadway lighting. The project is expected to begin in early 2013 with final completion anticipated by the end of 2017. Full Article
Tutor Perini Corp Reaffirms FY 2012 Guidance
Tutor Perini Corporation reaffirmed fiscal 2012 guidance and expects revenues to be in the range of $4.0-$4.5 billion and diluted earnings per share (EPS) to be in the range of $1.50-$1.70 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4.2 billion for fiscal 2012. Full Article
ACS Actividades de Construccion y Servicios SA’s and Tutor Perini Corp’s Consortium Wins USD 952 Million Contract for Metro in New York-Reuters
Reuters reported that ACS Actividades de Construccion y Servicios SA, along with two of its United States-based subsidiaries and Tutor Perini Corp, have been awarded a contract worth USD 952 million to carry out construction work in a New York subway line. Full Article
Tutor Perini Corp Receives $73 Million Contract for New Academic Building at SUNY School of Public Health in Brooklyn
Tutor Perini Corp announced that it has been awarded a contract to build the New Academic Building for the School of Public Health at the State University of New York (SUNY) Downstate Medical Center in Brooklyn, New York. The contract is valued at approximately $73 million. The New Academic Building will consist of an 8-story, 119,000 square-foot structure, as well as 6,500 square feet of renovations. The project will include classrooms, exam rooms, universal patient rooms, debriefing rooms, offices, and laboratories. Ennead Architects, LLP is the project designer. Construction began in late September, with substantial completion anticipated to occur in the fourth quarter of 2014. Full Article
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