TPC News & Events

Tutor Perini Corporation is offering $400M aggregate principal amount of senior notes due 2033 in a private offering. The Notes will be senior unsecured obligations of the Company and will be guaranteed by each of its wholly owned domestic subsidiaries that guarantee its revolving credit facility. The Company intends to use the net proceeds from this offering, together with cash on hand, to redeem $400M aggregate principal amount of its 11.875% Senior Notes due April 30, 2029 and pay related premiums, accrued interest and fees and expenses associated with such redemption. The Company may temporarily invest amounts that are not immediately needed for these purposes in cash or cash equivalents or other short-term investments, including marketable securities.

Tutor Perini Corporation announced that it has been awarded a task order valued at approximately $651.8M by the Naval Facilities Engineering Systems Command, NAVFAC, Pacific for Project P-1181, Harden Critical Feeders on Naval Base Guam. The project was awarded under NAVFAC Pacific's Facilities and Infrastructure Multiple Award Construction Contract. The purpose of the project is to replace existing primary and secondary overhead electrical distribution feeders with new underground circuit conductors within concrete-encased duct banks to improve electrical system resiliency and reliability for facilities on Naval Base Guam. The project will be executed through a joint venture involving the Company and its Guam-based wholly owned subsidiary, Black Construction Corporation. Design will begin in August 2026 with construction to begin in April 2027. Substantial completion is anticipated in June 2031. The task order value will be included in the Company's backlog for the second quarter of 2026.

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.