Tutor Perini Unit Wins $143M Electrical Contract for Dallas Pediatric Campus
TPC has more than doubled off its 52-week low of $43.52.
Summary
Tutor Perini's Fisk Electric subsidiary secured a $143 million electrical contract for a new Dallas pediatric campus. This adds to a string of recent project wins, including an $81.8 million Coast Guard contract in May, reinforcing the company's backlog growth. The award follows a strong Q1 with record operating cash flow and a completed $400 million debt refinancing, improving the balance sheet. The contract size is material relative to the company's project pipeline and supports revenue visibility.
At the time of this announcement, TPC was trading at $87.47 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $4.6B. The 52-week trading range was $43.52 to $100.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.