What Happened?
Shares of general contracting company Tutor Perini (NYSE: TPC) jumped 2.6% in the afternoon session after the company announced two significant contract awards through its subsidiary, Rudolph and Sletten, bolstering its project backlog.
The first contract, valued at approximately $155 million, was for the construction of the Diego Rivera Performing Arts Center at the City College of San Francisco. Additionally, the company secured a contract from UC Davis Health to expand the Central Utility Plant at its Sacramento campus. This second project added $108 million to Tutor Perini's backlog in the fourth quarter. These wins reinforced the company's track record in securing high-value institutional projects and supported its long-term revenue visibility.
After the initial pop the shares cooled down to $67.82, up 2.7% from previous close.
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What Is The Market Telling Us
Tutor Perini’s shares are very volatile and have had 21 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 10 months ago when the stock gained 31.2% on the news that the company reported impressive fourth-quarter results and provided optimistic full-year EPS guidance, which blew past analysts' expectations.
On the other hand, its revenue and EPS missed expectations, as the quarter was impacted by ongoing legacy dispute resolutions, which weighed on profitability. Looking ahead, the company expects double-digit revenue growth in 2025 and strong profitability in 2026 and 2027, backed by a record backlog of $18.7 billion. Overall, this quarter was decent.
Tutor Perini is up 181% since the beginning of the year, and at $67.82 per share, it is trading close to its 52-week high of $70.46 from December 2025. Investors who bought $1,000 worth of Tutor Perini’s shares 5 years ago would now be looking at an investment worth $5,076.
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