Tutor Perini Secures Over $800 Million in New Contracts
Tutor Perini Corp. has announced new contracts exceeding $800 million, including a $652 million project at a Navy base in Guam. These contracts underscore the company's growth and strategic positioning in the construction sector.
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Tutor Perini Corp. has been awarded contracts totaling over $800 million, highlighted by a $652 million project for underground power lines at a U.S. Navy base in Guam. This contract is part of a broader $15 billion infrastructure upgrade plan by the Naval Facilities Engineering Systems Command, Pacific division.
Additionally, Tutor Perini's subsidiary will construct a 110,000-square-foot academic facility at the University of Mississippi for $114 million, while a $48 million contract for electrical infrastructure at a data center in Houston is also included. Construction at the Guam Navy base is expected to begin next year and conclude by mid-2031.
The company also announced a $400 million senior notes offering to refinance existing debt, maintaining a debt-to-equity ratio of 0.38. This financial strategy, along with recent contract wins, positions Tutor Perini favorably for future growth.
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