The construction firm secures a federal housing and water infrastructure project, adding to its second-quarter backlog.
Tutor Perini Corporation (NYSE:TPC) announced its subsidiary, Perini Management Services, secured an $81.8 million contract from the U.S. Coast Guard. The project includes designing and constructing family housing units and replacing a major water storage tank at USCG Base Kodiak in Alaska, with completion targeted for late 2028.
The contract will be added to Tutor Perini’s backlog in the second quarter, reinforcing its portfolio of infrastructure and government projects. Earlier this month, the company reported first-quarter adjusted earnings per share of $1.03, surpassing analyst expectations of $0.96, while revenue reached $1.4 billion.
Management reaffirmed full-year 2026 adjusted EPS guidance of $4.90 to $5.30, citing confidence in project execution and contingency allowances for unforeseen developments.