Tutor Perini Corporation
- Open
- 81.53
- Day high
- 81.53
- Day low
- 79.53
- Prev close
- 82.97
- Volume
- 38K
- Mkt cap
- $4.2B
- P/E (TTM)
- 53.9
- EPS (TTM)
- $1.49
- P/B
- 3.5
- P/S
- 0.7
- Yield
- 0.15%
- Per share
- $0.12
- ▼Insiders net selling -$2.1M over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions mixed (13F)
Tutor Perini Corporation (TPC) is a Industrials company listed on NYSE. The stock is up 79% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
Tutor Perini Corporation (TPC) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TPC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $0.96 | $1.03 | +7.3% | $1.4B | -3.3% |
| Nov 5, 2025 | $0.96 | $1.15 | +19.8% | $1.4B | +4.6% |
| Aug 6, 2025 | $0.29 | $1.41 | +386.2% | $1.4B | +3.2% |
| May 7, 2025 | $0.06 | $0.53 | +783.3% | $1.2B | +16.7% |
| Feb 27, 2025 | $0.29 | $-1.51 | -620.7% | $1.1B | +0.7% |
| Aug 1, 2024 | $0.16 | $0.19 | +18.8% | $1.1B | -5.0% |
| Apr 25, 2024 | $-0.17 | $0.30 | +276.5% | $1.0B | -8.4% |
| Feb 28, 2024 | $0.07 | $-0.91 | -1400.0% | $1.0B | +3.3% |
| Nov 9, 2023 | $0.06 | $-0.71 | -1283.3% | $1.1B | +7.3% |
| Aug 3, 2023 | $-0.04 | $-0.72 | -1500.0% | $1.0B | +19.2% |
| May 4, 2023 | $-0.04 | $-0.95 | -2275.0% | $776M | -15.4% |
| Mar 15, 2023 | $-0.01 | $-1.80 | -18100.2% | $907M | -7.1% |
TPC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 23, 2026 | DIEU HENRYofficer: SVP & Chief Accounting Officer | Option | 1,191 | — |
| Jun 23, 2026 | Ariqat Ghassanofficer: Executive Vice President | Option | 26,203 | — |
| Jun 23, 2026 | Ariqat Ghassanofficer: Executive Vice President | Tax | 13,332 | $77.99 |
| Jun 23, 2026 | Jensen William Eofficer: Executive Vice President | Option | 26,203 | — |
| Jun 23, 2026 | Jensen William Eofficer: Executive Vice President | Tax | 14,057 | $77.99 |
| Jun 23, 2026 | DIEU HENRYofficer: SVP & Chief Accounting Officer | Tax | 522 | $77.99 |
| May 29, 2026 | Lieber Robert Cdirector | Sell | 17,500 | $75.36 |
| May 22, 2026 | SOROKA RYAN JOSEPHofficer: Executive VP & CFO | Grant | 10,971 | — |
| May 22, 2026 | Ariqat Ghassanofficer: Executive Vice President | Grant | 11,702 | — |
| May 22, 2026 | DIEU HENRYofficer: VP & Chief Accounting Officer | Grant | 5,485 | — |
| May 22, 2026 | FELTENSTEIN SIDNEY Jdirector | Grant | 3,635 | — |
| May 22, 2026 | Jigisha Desaidirector | Grant | 3,992 | — |
| May 22, 2026 | ARKLEY PETERdirector | Grant | 2,337 | — |
| May 22, 2026 | REISS DALE ANNEdirector | Grant | 2,337 | — |
| May 22, 2026 | ONEGLIA RAYMOND Rdirector | Grant | 2,337 | — |
Source: TPC SEC Form 4 filings, latest Jun 23, 2026. For informational purposes only — not investment advice.
See the full TPC insider & 13F page →Tutor Perini Corporation company profile
Overview
Tutor Perini Corporation (NYSE:TPC) is one of America's largest general contractors, with roots dating back to 1894. Originally founded as Perini Corporation, the company became Tutor Perini Corporation in 2009 following a merger. Based in Sylmar, California, the company has evolved from a regional contractor into a diversified construction giant specializing in complex infrastructure projects, building construction, and specialty contracting services across the United States and internationally. The company has weathered significant challenges in recent years, including legacy project disputes and operational losses, but is currently experiencing a major turnaround with record backlogs and improved financial performance under new leadership.
Business
Tutor Perini operates as a diversified construction company serving both public agencies and private customers through three primary business segments. The construction industry involves building, repairing, and maintaining infrastructure and buildings, requiring specialized expertise in project management, engineering, and execution of complex multi-year projects. Civil Segment (approximately 49% of revenue): This division focuses on large-scale public infrastructure projects including highways, bridges, tunnels, mass-transit systems, military defense facilities, and water management systems. The segment also provides specialized services like drilling, foundation work, and excavation support. Recent major projects include tunnel construction in Manhattan and transit systems in Honolulu. Building Segment (approximately 37% of revenue): This segment constructs specialized buildings across diverse markets including hospitality and gaming facilities, transportation hubs, healthcare facilities, commercial offices, government buildings, sports and entertainment venues, educational institutions, correctional facilities, and biotech/pharmaceutical facilities. The division handles everything from initial planning through final construction. Specialty Contractors Segment (approximately 14% of revenue): This division provides electrical, mechanical, plumbing, fire protection, and HVAC systems primarily for industrial, commercial, hospitality, and mass-transit projects. The segment also offers general contracting services and handles complex building systems integration.
Revenue model
Tutor Perini generates revenue primarily through construction contracts, operating under various contract structures including fixed-price, cost-plus, and design-build arrangements. The company's customers include government agencies (federal, state, and local), transit authorities, private developers, and institutional clients who pay for construction services as projects progress through predetermined milestones. The business model involves bidding on large-scale projects, often worth hundreds of millions or billions of dollars, with contract durations typically spanning multiple years. Revenue recognition occurs as work is completed, with profit margins depending on successful project execution, cost control, and change order management. Several factors significantly impact the company's profitability. Favorable factors include infrastructure spending increases, limited competition due to high barriers to entry, the ability to negotiate better contract terms in a supply-constrained market, and successful resolution of legacy disputes that can provide substantial cash windfalls. Challenging factors include material cost inflation, labor shortages, project delays due to regulatory approvals, weather disruptions, design changes that increase costs, and the inherent risks of fixed-price contracts where cost overruns directly impact margins. The company's margins are also affected by its ability to win projects with favorable risk allocation and its success in collecting disputed amounts from previous projects.
Competitive moat
Tutor Perini's competitive moat is moderate but strengthening, built primarily on scale, specialized expertise, and high barriers to entry in large infrastructure projects. The company's ability to handle billion-dollar, multi-year projects requires substantial bonding capacity, specialized equipment, experienced management teams, and proven track records that smaller competitors cannot match. The current supply-demand imbalance in the construction industry, with limited qualified contractors relative to infrastructure investment, has strengthened pricing power and allowed for more favorable contract terms. However, the moat faces several vulnerabilities. The construction industry remains highly competitive among large players, with companies like Bechtel, Fluor, and regional specialists competing for major projects. The business is inherently cyclical and dependent on government spending patterns and economic conditions. Additionally, the company's recent history of project disputes and losses has somewhat damaged its reputation, though this appears to be improving under new leadership. The company's strongest moat exists in complex civil engineering projects requiring specialized tunnel boring, bridge construction, and transit system expertise. These projects have fewer qualified bidders and higher switching costs for clients. The specialty contractors segment faces more intense competition and has been the company's weakest performing division.
Risks & safety
Moderate margin of safety with improving fundamentals but lingering execution risks. • Liquidity and Solvency: Strong cash position of $455 million, current ratio of 1.41, and record operating cash flow of $504 million in 2024. Debt-to-equity ratio of 0.47 after significant debt reduction of $477 million in 2024. • Valuation Metrics: Trading at attractive multiples with P/E of 4.4 (based on 2025 guidance), P/B of 1.05, and EV/EBITDA of 3.7. Graham number suggests potential undervaluation at current levels. • Other Considerations: Record backlog of $19.4 billion provides substantial revenue visibility through 2027. However, the company's history of project execution issues and ongoing legacy disputes (12-14 remaining) present operational risks that could impact future profitability.
Recent development
Tutor Perini has undergone significant strategic transformation over the past few years. The company experienced a major leadership transition in 2024, with Gary Smalley becoming CEO while founder Ron Tutor moved to Executive Chairman, bringing fresh management perspective to address operational challenges. The most significant development has been the aggressive resolution of legacy project disputes, reducing outstanding claims from dozens to approximately 12-14 major matters. This effort generated substantial cash flows, with $504 million in operating cash flow in 2024, enabling the company to reduce total debt by 52% and strengthen its balance sheet considerably. Strategically, the company has become more selective in project bidding, focusing on contracts with better risk allocation and higher margins. This approach has paid off with a record backlog growing from $7.9 billion in 2022 to $19.4 billion by Q1 2025, representing 94% year-over-year growth. Major recent wins include the $1.18 billion Manhattan tunnel project, $1.66 billion Honolulu transit project, and multiple large healthcare and infrastructure projects. The company has also identified significant opportunities in the Indo-Pacific region, particularly U.S. military infrastructure projects in Guam and surrounding islands, with access to $32 billion in Multiple Award Construction Contracts. Additionally, management is exploring potential involvement in post-war Ukraine reconstruction efforts, which could provide substantial future opportunities.
TPC company profile · for informational purposes only — not investment advice.
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