Key Developments: Tutor Perini Corp (TPC)

TPC on New York Consolidated

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26 Jan 2015
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Latest Key Developments (Source: Significant Developments)

Tutor Perini Corporation's Five Star Electric awarded three contracts valued at $141 mln
Tuesday, 30 Dec 2014 02:00pm EST 

Tutor Perini Corporation:Says its specialty contracting subsidiary, Five Star Electric, has recently been awarded three contracts collectively valued at about $141 mln.Receives a contract Value of $88.0 mln by Judlau Contracting, Inc. for the South Ferry Subway Station Upgrade project in Lower Manhattan.Construction started earlier this month and substantial completion is anticipated by June 2017.Project owner is New York Metropolitan Transportation Authority (MTA) - New York City Transit.Receives a contract Value $32.4 mln by Tishman Construction.Contract to perform all electrical installation work as part of construction of a new 940,000-square-foot, 42-story high-end residential tower that will include 361 apartments, amenity spaces, a fitness center, parking garage and retail space.Construction started earlier this month and substantial completion is anticipated by June 2017.Project owner is El-Ad Group and Silverstein Properties.Receives a contract Value $20.6 mln by Pavarini McGovern, LLC.Contract to perform all the electrical installation work as part of the construction of a new 320,000-square-foot, 61-story high-end residential tower that will include 99 apartments, amenity spaces, a fitness center, and commercial and retail space.Construction started earlier this month and substantial completion is anticipated by Dec. 2016.Project owner is 610 Lexington Ave, LLC.  Full Article

Tutor Perini Corp joint venture reaches $88.7 million settlement on Central Artery Project
Friday, 21 Nov 2014 08:41pm EST 

Tutor Perini Corp:Says that the Tutor Perini-lead joint venture with partners Kiewit Corp. and Jay Cashman, Inc. has reached an $88.7 million settlement with the Commonwealth of Massachusetts on the Central Artery/Tunnel (C11) Project.Says as this litigation has ensued for 15 years, the company is pleased to finally have both the judgment and an agreement to pay in place.Says the payment is expected before the end of the year.  Full Article

Tutor Perini Corp secures $87 mln Transbay Transit Center Contract
Thursday, 20 Nov 2014 08:30am EST 

Tutor Perini Corp:Says it has been awarded a contract valued at about $87 mln by Webcor/Obayashi Joint Venture for work on the Transbay Transit Center project in San Francisco, California.Says the scope of work consists of the installation of all electrical, communications, life safety, fire alarm, security, and integrated network systems.Says the project owner is the Transbay Joint Powers Authority.Says the work on this project is expected to commence in the Q1 2015 with substantial completion expected in the Q4 2017.Says the contract value is expected to be included in its reported fourth-quarter backlog.  Full Article

Tutor Perini Corp maintains FY 2014 guidance
Wednesday, 5 Nov 2014 04:07pm EST 

Tutor Perini Corp:Maintains FY 2014 guidance, with revenue expected in the range of $4.5 billion to $4.7 billion and diluted EPS expected in the range of $2.20 to $2.40.FY 2014 revenue of $4.6 billion and EPS of $2.31 - Thomson Reuters I/B/E/S.  Full Article

Tutor Perini Corp's Tutor Perini Building Corp. awarded $112 mln Chumash Casino Resort expansion contract
Monday, 29 Sep 2014 12:46pm EDT 

Tutor Perini Corp:Says its subsidiary, Tutor Perini Building Corp., has been awarded contract valued at about $112 mln by Santa Ynez Band of Chumash Indians for the expansion of the Chumash Casino Resort in Santa Ynez, California.Scope of work for project includes construction of hotel tower that will add 215 more rooms, a 20,000-square-foot pool deck, a parking garage, expansion of existing gaming floor, and additional food and beverage venues.Construction is scheduled to begin in Oct. 2014 with substantial completion anticipated in 2016.Says contract value is expected to be included as part of Company's reported third-quarter backlog.  Full Article

Tutor Perini Corp awarded three projects valued at $319 mln
Friday, 12 Sep 2014 08:30am EDT 

Tutor Perini Corp:Lunda Construction Company, subsidiary recently been awarded three projects in Wisconsin and Minnesota collectively valued at about $319 mln.Contracts will be included in company's reported Q3 backlog.Says Phase 1 - Zoo Interchange, I-94/US 45, Milwaukee, Wisconsin contract value about $198 mln completion expected in June 2016.Says Highway 610 completion to I-94, Maple Grove, Minnesota contract value about $81 mln expected to begin in Sept. 2014 with substantial completion expected in Oct. 2016.Says US 10/WIS 441 near Menasha, Wisconsin Contract value about $40 mln expected to begin in Sept. 2014 with substantial completion expected in Nov. 2016.  Full Article

Tutor Perini Corp lowers high end of prior FY 2014 revenue guidance to a range in line with analysts' estimates; reaffirms FY 2014 EPS guidance
Tuesday, 5 Aug 2014 04:05pm EDT 

Tutor Perini Corp:Updates FY 2014 guidance, with revenue now expected in range of $4.5 bln to $4.7 bln and diluted EPS remaining in the range of $2.20 to $2.40.FY 2014 revenue of $4.6 bln and EPS of $2.33 - Thomson Reuters I/B/E/S.  Full Article

Tutor Perini Corp's Roy Anderson Corp awarded three new projects
Wednesday, 16 Jul 2014 08:30am EDT 

Tutor Perini Corp:Says three new projects awarded to its subsidiary, Roy Anderson Corp at a contract value of about 31.1 mln.  Full Article

Tutor Perini Corp awarded contract for Panorama Tower in Miami
Wednesday, 11 Jun 2014 08:30am EDT 

Tutor Perini Corp:Says a subsidiary, Tutor Perini Building Corp, has been selected as the general contractor and has signed a contract with Florida East Coast Realty, LLC, valued at about $255 million for construction of the Panorama Tower at Brickell Avenue in Miami, Florida.  Full Article

Tutor Perini Corp's subsidiary announces three projects valued over $285 mln
Thursday, 8 May 2014 08:30am EDT 

Tutor Perini Corp:Announces three new projects in California for its subsidiary, Rudolph and Sletten, Inc., collectively valued at more than $285 mln.Macerich, Broadway Plaza Retail Development contract is valued at about range $125 to $150 mln, for construction of 300,000 sf of new and renovated buildings in the existing high-end open air shopping center in Walnut Creek, California.Construction started in Feb. 2014 and is expected to be substantially completed in Dec. 2016.Silicon Valley Microelectronic Manufacturing Facility contract is valued at about $110 mln, for construction of a new 70,000-sf clean room, including new support steel structures and utilities, along with new interior office upgrades within an existing overall upgraded 270,272-sf two-story building.Construction started in April 2014 and is expected to be substantially completed in May 2015.University of California, Santa Barbara, Bioengineering Lab Building contract is valued at about $53 mln, for construction of an 89,000-sf three-story multi-disciplinary research facility, which will house a combination of wet labs, lab support space, and dry computational research labs.Construction is expected to start in Sept. 2014 and be substantially completed in Dec. 2016.  Full Article

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