TPC News & Events

Tutor Perini Corporation announced that its subsidiary, Perini Management Services, has been awarded a contract valued at approximately $81.8M by the U.S. Coast Guard, for the design and construction of the Family Housing Phase IV and Aviation Hill Water Tank at Nemetz Park Site, USCG Base Kodiak in Alaska. The project scope of work includes design and construction of 30 family housing units in 15 duplex configurations. The project includes demolition, utilities, roads, sidewalks, and other site improvements. The project also includes the replacement of the existing 653,800-gallon Aviation Hill water storage tank and associated tie-ins to the Base Kodiak water system to support fire protection and domestic water services. Work is expected to begin immediately with substantial completion anticipated in November 2028. The contract value will be added to the company's backlog in the second quarter of 2026.

Tutor Perini announced that its subsidiary, Perini Management Services, has been awarded a contract valued at approximately $61.6M by the U.S. Coast Guard, for the design and construction of a new Child Development Center at USCG Base Kodiak in Alaska. The contract includes the design and construction of a Child Development Center with capacity for 232 children, totaling approximately 34,000 square feet. The scope of work also includes site development, utility installations, outdoor play areas, parking facilities, and supporting site improvements necessary for CDC operations. Additional work includes demolition of existing housing structures, environmental compliance activities, and required permitting and approvals. Work is expected to commence in May 2026 with substantial completion anticipated in January 2029. The contract value will be added to the company's backlog in the second quarter of 2026.

Tutor Perini Corporation announced that its subsidiary, Rudolph and Sletten, has been awarded a contract by Sutter Health for its future Advanced Orthopedics & Sports Medicine Care Complex in Sacramento, California. The project scope of work includes the conversion of the existing 660 J Street office building into a new approximately 120,000 square-foot ambulatory surgical center and medical office building. The project will include significant structural upgrades to the existing cast-in-place post-tensioned structure to meet current seismic requirements. All new mechanical, electrical and plumbing systems will replace the existing building systems. Pre-construction work on this project commenced in the spring of 2025 and the project recently entered the construction phase with substantial completion anticipated in the fall of 2027. The undisclosed contract value was reflected in the company's backlog at the end of the first quarter of 2026.

Strong earnings out of the Tech sector and receding Middle East tension remained the overarching theme in Wednesday's trading, with Basic Materials, Industrials, and Technology sectors helping the S&P 500 to fresh record highs, while Energy was a significant laggard.  Oil prices falling sharply below $90 reduced the geopolitical premium as Exxon Mobiland Chevronboth fell about 4%.  Treasuries were also bid as yields on 10-year slipped 6bps to 4.36% and 30-year slipped 4bps to 4.94%, with fixed income remaining the direct beneficiary of U.S.-Iran de-escalation via reduced inflation expectations.In the opening hours of the evening session, S&P e-minis and Nasdaq 100 contracts are down about 0.2% each and WTI Crude is back above $95 per barrel.  Afterhours earnings session saw a mixed bag of reports from Consumer Cyclical space - DoorDashwas up double-digits on surprisingly strong results as Total Orders increased 27% y/y in Q1 while Whirlpoolwas down sharply.  In Internet Services, Zillowwas sharply lower despite beating on top and bottom line as Q2 revenue guide was softer than expected while Snapslipped 8%.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Noodles & Companyup 21.1%Fortinetup 16.7%Kulicke and Soffa Industriesup 15.7%Cognexup 14.3%Array Technologiesup 12.6%DoorDashup 12.0%EZCORPup 10.7%Envista Holdingsup 9.0%PTC Inc.up 8.2%Ormat Technologiesup 8.0%AppLovinup 0.8%DOWN AFTER EARNINGS -Fastlydown 24.7%Whirlpooldown 16.2%Tutor Perinidown 11.6%Core Scientificdown 8.4%Amprius Technologiesdown 8.1%Snapdown 7.9%Coherentdown 7.8%Armdown 7.3%IonQdown 6.5%Zillowdown 4.4%