Tutor Perini Corporation (TPC) Bundle
A Brief History of Tutor Perini Corporation (TPC)
Company Formation and Early Years
Tutor Perini Corporation was originally formed in 1894 as the Tutor-Saliba Corporation. The company started as a small construction firm in California. In 2008, the company changed its name to Tutor Perini Corporation following a merger with Perini Corporation, which was founded in 1894. The merger allowed TPC to expand its operations and revenue streams.
Financial Data and Growth
As of December 2022, Tutor Perini reported revenues of $4.05 billion. The company experienced steady revenue growth from $3.67 billion in 2021, reflecting a year-over-year increase of approximately 10.4%. In 2022, Tutor Perini's net income was around $122 million, a significant increase from $92 million in the previous year.
| Year | Revenue (in billions) | Net Income (in millions) |
|---|---|---|
| 2020 | 3.30 | 72 |
| 2021 | 3.67 | 92 |
| 2022 | 4.05 | 122 |
Major Projects and Contracts
Tutor Perini has participated in various high-profile projects, including:
- California’s High-Speed Rail project, estimated at $68 billion
- The LaGuardia Airport redevelopment project, awarded at approximately $1.5 billion
- The expansion of the Los Angeles International Airport, involving contracts totaling over $1 billion
- Construction of the $2.5 billion Metro Gold Line in Los Angeles
Employee and Workforce Data
In 2022, Tutor Perini employed approximately 4,000 workers, which highlights the firm’s ability to provide substantial employment in the construction sector. The company has a diverse workforce, with a commitment to hiring skilled labor across various trades.
Stock Market Performance
Tutor Perini Corporation is publicly traded on the New York Stock Exchange under the ticker symbol TPC. As of January 2023, TPC's stock price was approximately $8.50 per share, with a market capitalization of around $400 million. The company’s stock has shown volatility, with a high of $12.50 in mid-2022 and a low of $6.50 in early 2023.
| Year | Stock Price (Year End) | Market Capitalization (in millions) |
|---|---|---|
| 2021 | 9.75 | 470 |
| 2022 | 12.50 | 575 |
| 2023 | 8.50 | 400 |
Future Outlook and Strategies
Looking ahead, Tutor Perini Corporation aims to expand its footprint in the civil construction sector, focusing on infrastructure projects with expected government funding increases. The company’s strategic plan includes targeting sustainable construction practices and leveraging technology for improved project delivery.
A Who Owns Tutor Perini Corporation (TPC)
Company Overview
Company Overview
Tutor Perini Corporation (TPC) is a leading construction company in North America, specializing in various sectors, including civil, building, and specialty contracting. Its financials, as of 2023, reveal a market capitalization of approximately $700 million.
Ownership Structure
The ownership of Tutor Perini Corporation is divided among institutional investors, individual shareholders, and management. As of the latest data, the breakdown is as follows:
| Ownership Type | Percentage Ownership | Number of Shares | Estimated Value ($) |
|---|---|---|---|
| Institutional Investors | 85.2% | 24,500,000 | 595,000,000 |
| Insider Ownership | 5.5% | 1,500,000 | 35,000,000 |
| Individual/Other Investors | 9.3% | 2,500,000 | 70,000,000 |
Major Institutional Shareholders
Key institutional shareholders include:
| Institution | Percentage Ownership | Number of Shares |
|---|---|---|
| The Vanguard Group | 10.2% | 3,000,000 |
| BlackRock, Inc. | 8.5% | 2,400,000 |
| Dimensional Fund Advisors | 6.8% | 1,900,000 |
| State Street Corporation | 5.7% | 1,600,000 |
Insider Ownership
Insider ownership represents a modest portion of Tutor Perini's shares. Key executives included:
- Ronald Tutor (CEO) - 3.0% ownership
- Michael McNulty (CFO) - 1.2% ownership
- Other Executives - 1.3% ownership collectively
Stock Performance
As of the end of Q3 2023, Tutor Perini's stock performance shows:
- Current Stock Price: $28.50
- 52-Week Range: $20.00 - $35.00
- YTD Return: 15%
Recent Financials
The financial performance of Tutor Perini for the fiscal year ending 2022 includes:
| Financial Metric | Amount ($) |
|---|---|
| Revenue | 1,800,000,000 |
| Net Income | 50,000,000 |
| Total Assets | 1,200,000,000 |
| Total Liabilities | 900,000,000 |
| Shareholders' Equity | 300,000,000 |
Conclusion of Ownership Insights
The ownership structure of Tutor Perini Corporation reflects a strong institutional presence, with significant holdings by key investment firms, alongside substantial insider investment from top management. This diverse ownership base supports the company's strategic initiatives and operational goals.
Tutor Perini Corporation (TPC) Mission Statement
Overview of Tutor Perini Corporation
Tutor Perini Corporation is a leading construction firm, specializing in a diverse array of construction services, including general contracting, construction management, and civil engineering. As of 2022, the company reported a revenue of $4.1 billion.
Core Values
- Integrity: Upholding the highest ethical standards.
- Quality: Commitment to excellence in every project.
- Safety: Ensuring a safe working environment for all employees.
- Innovation: Embracing new technologies and methodologies.
Mission Statement
The mission of Tutor Perini Corporation is to provide superior construction services that consistently meet the needs of clients, while ensuring the utmost safety and maintaining high ethical standards. The company aims to enhance the communities it serves through sustainable practices and innovative solutions.
Strategic Objectives
- Deliver high-quality construction projects on time and within budget.
- Expand market presence both nationally and internationally.
- Leverage advanced technology to improve productivity.
- Foster a culture of safety and continuous improvement.
Financial Performance
For the fiscal year ending December 31, 2022, Tutor Perini Corporation reported:
| Financial Metric | Amount |
|---|---|
| Revenue | $4.1 billion |
| Net Income | $72 million |
| Total Assets | $1.9 billion |
| Total Liabilities | $1.5 billion |
| Stockholders' Equity | $400 million |
Community Impact
Tutor Perini Corporation is dedicated to making a positive impact in the communities it serves. The company's initiatives include:
- Supporting local charities with financial contributions.
- Engaging in environmentally sustainable construction practices.
- Participating in workforce development programs.
Employee Commitment
The company recognizes the importance of its employees in achieving its mission. In 2022, Tutor Perini offered:
| Employee Benefit | Details |
|---|---|
| Health Insurance | Comprehensive medical, dental, and vision plans. |
| Retirement Plans | 401(k) plan with company match up to 6%. |
| Training Programs | Continuous education and certification programs available. |
How Tutor Perini Corporation (TPC) Works
Company Overview
Company Overview
Tutor Perini Corporation (TPC), established in 1894, is a leading construction company in the United States. As of 2022, the company reported revenues of approximately $4.1 billion.
Business Segments
TPC operates through various business segments:
- Building Construction
- Heavy Civil Construction
- Environmental Services
- Specialty Contracting
Revenue Breakdown
The following table outlines the revenue contribution from each segment for the fiscal year 2022:
| Segment | Revenue (in billions) |
|---|---|
| Building Construction | $2.3 |
| Heavy Civil Construction | $1.5 |
| Environmental Services | $0.4 |
| Specialty Contracting | $0.9 |
Geographical Presence
TPC has operations in various regions, with significant projects in:
- California
- New York
- Texas
- Florida
Major Projects
In recent years, Tutor Perini has undertaken several notable projects:
- Los Angeles International Airport (LAX) Expansion
- New Tappan Zee Bridge in New York
- Central Subway Project in San Francisco
Financial Performance
For the fiscal year ending December 31, 2022, Tutor Perini's financial performance highlighted:
| Metric | Value |
|---|---|
| Total Revenue | $4.1 billion |
| Net Income | $64 million |
| Total Assets | $1.9 billion |
| Total Liabilities | $1.5 billion |
| Stockholders' Equity | $400 million |
Workforce
Tutor Perini employs a diverse workforce of approximately 7,000 employees as of 2022.
Stock Performance
The stock price of TPC as of October 2023 was approximately $15.25 per share, with a market capitalization of around $650 million.
Competitive Advantage
Tutor Perini's competitive advantages include:
- Strong brand recognition
- Diverse project portfolio
- Robust financial backing
- Experienced management team
Future Outlook
Looking forward, TPC aims to expand its footprint in renewable energy and infrastructure development, targeting an annual growth rate of 5-10% over the next five years.
How Tutor Perini Corporation (TPC) Makes Money
Overview of Revenue Streams
Overview of Revenue Streams
Tutor Perini Corporation primarily generates revenue through several key segments:
- Construction Services
- Design-Build Services
- General Contracting
- Project Management
- Public and Private Sector Contracts
Construction Services
As of 2022, Tutor Perini reported approximately $3.1 billion in revenue from construction services, which included:
- Highway and bridge construction
- Heavy civil construction
- Building construction
Design-Build Services
The design-build segment contributed about $800 million to TPC’s total revenue in 2022. The strategy allows TPC to handle both design and construction phases:
- Increased efficiency
- Cost savings for clients
General Contracting
General contracting remains a significant source of income, contributing approximately $1.5 billion to the company’s revenue as of the fiscal year 2022. This includes:
- Commercial buildings
- Institutional projects
- Residential developments
Public and Private Sector Contracts
In 2022, approximately 70% of Tutor Perini’s contracts derived from public sector projects, while 30% came from the private sector. Key contracts included:
- Transportation infrastructure
- Government buildings
- Environmental rehabilitation
Financial Performance
For the fiscal year 2022, Tutor Perini Corporation reported:
| Financial Metric | Amount |
|---|---|
| Total Revenue | $4.6 billion |
| Net Earnings | $150 million |
| Revenue Growth (YoY) | 8% |
| Gross Margin | 6.5% |
Major Projects
Notable projects that significantly contributed to revenue include:
- California High-Speed Rail - Approximately $1.2 billion
- Las Vegas Convention Center Expansion - Approximately $900 million
- Various Military Construction Projects - Approximately $500 million
Market Position
Tutor Perini operates within a highly competitive landscape. As of 2022, the company held a market share of 3.5% in the U.S. construction industry, which is valued at approximately $1.36 trillion.
Outlook
Looking forward, TPC has a robust backlog of contracts valued at approximately $5.4 billion as of Q1 2023, indicating a positive revenue outlook driven by:
- Expanding infrastructure investments
- Increased government spending on construction
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