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Tutor Perini-Nan JV Awarded Additional $232 Million for the Apra Harbor Waterfront Repairs Project for a Total Awarded Value of $563 Million

1. TPC's Tutor Perini-Nan Joint Venture wins $232M options for Guam waterfront repairs project; boost expected to enhance revenue. 2. Naval Facilities Engineering awards additional scope on Apra Harbor repairs; implies increased order backlog for TPC.

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FAQ

Why Bullish?

The additional $232M scope directly increases TPC's backlog and revenue potential, similar to past contract awards that have boosted investor confidence and share performance.

How important is it?

The contract award signifies a material increase in future revenues, which can positively influence market sentiment and price, making it an important catalyst for TPC stock.

Why Short Term?

The new options will likely generate near-term revenue flows, with immediate effects on cash flow and order book, as observed in similar historical contract wins.

Related Companies

NYSE: TPC
LOS ANGELES--(BUSINESS WIRE)-- #newaward--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that the Tutor Perini-Nan Joint Venture has been awarded several options by the Naval Facilities Engineering Systems Command, Marianas, for additional scope of work on the previously announced Apra Harbor Waterfront Repairs Project in Guam. The additional scope options are valued at approximately $232 million, bringing the total contra.

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