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Tutor Perini (TPC)

utor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private clients and public agencies throughout the world. Tutor Perinihas provided construction services since 1894 and have established a strong reputation within its markets by executing large, complex projects on time and within budget while adhering to strict quality control measures.

Company profile

Ticker
TPC
Exchange
CEO
Ronald Tutor
Employees
Incorporated
Location
Fiscal year end
Former names
PERINI CORP
SEC CIK
Subsidiaries
Becho, Inc. • Black Construction Corporation • Cherry Hill Construction, Inc. • Frontier-Kemper Constructors, Inc. • Lunda Construction Company • Tutor-Saliba Corporation • James A. Cummings, Inc. • Keating Building Company • Perini Management Services, Inc. • Roy Anderson Corp ...
IRS number
41717070

TPC stock data

Calendar

5 Aug 22
16 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 313.75M 313.75M 313.75M 313.75M 313.75M 313.75M
Cash burn (monthly) 2.54M (no burn) 35.25M 1.67M (no burn) (no burn)
Cash used (since last report) 3.99M n/a 55.39M 2.63M n/a n/a
Cash remaining 309.76M n/a 258.36M 311.12M n/a n/a
Runway (months of cash) 122.0 n/a 7.3 185.8 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
6 Jun 22 Tutor Ronald N Common Stock Sell Dispose S Yes No 10.25 50,000 512.5K 3,343,305
24 May 22 Tutor Ronald N Common Stock Sell Dispose S Yes No 9.56 50,000 478K 3,393,305
23 May 22 Tutor Ronald N Common Stock Sell Dispose S Yes No 9.75 50,000 487.5K 3,443,305
18 May 22 Jigisha Desai Common Stock Grant Acquire A No No 0 14,677 0 19,903
18 May 22 Feltenstein Sidney J Common Stock Grant Acquire A No No 0 22,504 0 177,042
18 May 22 Horodniceanu Michael Filip Common Stock Grant Acquire A No No 0 16,633 0 67,966
77.7% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 161 159 +1.3%
Opened positions 19 21 -9.5%
Closed positions 17 17
Increased positions 64 55 +16.4%
Reduced positions 48 50 -4.0%
13F shares Current Prev Q Change
Total value 464.52M 3.1B -85.0%
Total shares 39.93M 40.44M -1.3%
Total puts 152.4K 279.3K -45.4%
Total calls 200.7K 188K +6.8%
Total put/call ratio 0.8 1.5 -48.9%
Largest owners Shares Value Change
BLK Blackrock 4.33M $46.81M +7.8%
Tutor Ronald N 4.25M $62.09M 0.0%
Vanguard 3.67M $39.61M -4.9%
Dimensional Fund Advisors 2.66M $28.72M +2.7%
Donald Smith & Co. 2.64M $28.55M -4.4%
Frontier Capital Management 1.65M $20.41M 0.0%
Mirae Asset Global Investments 1.27M $13.76M +60.0%
STT State Street 1.08M $11.68M +35.6%
Charles Schwab Investment Management 1.08M $11.61M +14.0%
Levin Capital Strategies 1.03M $11.08M +19.1%
Largest transactions Shares Bought/sold Change
Frontier Capital Management 861.65K -788.24K -47.8%
Mirae Asset Global Investments 1.27M +477.72K +60.0%
Norges Bank 0 -343.92K EXIT
BLK Blackrock 4.33M +312.57K +7.8%
STT State Street 1.08M +284.01K +35.6%
Millrace Asset 0 -223.53K EXIT
Vanguard 3.67M -189.56K -4.9%
Citadel Advisors 117.93K -182K -60.7%
Levin Capital Strategies 1.03M +164.43K +19.1%
Hotchkis & Wiley Capital Management 666.71K +160.99K +31.8%

Financial report summary

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Competition
Granite ConstructionAECOMFluor
Risks
  • If we are unable to accurately estimate contract risks, revenue or costs, economic factors such as inflation, the timing of new awards, or the pace of project execution, we may incur a loss or achieve lower than anticipated profit.
  • We are involved in a significant number of legal proceedings which, if determined unfavorable to us, could adversely affect our financial results and/or cash flows, harm our reputation and/or preclude us from bidding on future projects. We also may invest significant working capital on projects while legal proceedings are being settled.
  • Our contracts often require us to perform extra work beyond the initial project scope, which can result in disputes or claims and adversely affect our working capital, profits and cash flows.
  • Competition for new project awards is intense, and our failure to compete effectively could reduce our market share and profits.
  • The coronavirus (“COVID-19”) pandemic has adversely impacted, and could continue to adversely impact, our business, financial condition and results of operations.
  • A significant slowdown or decline in economic conditions could adversely affect our operations.
  • Our actual results could differ from the assumptions and estimates used to prepare our financial statements.
  • The construction services industry is highly schedule driven, and our failure to meet the schedule requirements of our contracts could adversely affect our reputation and/or expose us to financial liability.
  • We may not fully realize the revenue value reported in our backlog due to cancellations or reductions in scope.
  • We require substantial personnel, including construction and project managers and specialty subcontractor resources, to execute and perform on our contracts in backlog. The successful execution of our business strategies is also dependent upon our ability to attract and retain our key officers, as well as adequately plan for their succession.
  • The level of federal, state and local government spending for infrastructure and other public projects could adversely affect the number of projects available to us in the future.
  • Systems and information technology interruption and breaches in data security and/or privacy could adversely impact our ability to operate and negatively impact our operating results.
  • Our participation in construction joint ventures exposes us to liability and/or harm to our reputation for failures by our partners.
  • Our international operations expose us to economic, political, regulatory and other risks, as well as uncertainty related to U.S. Government funding, which could adversely affect our revenue and earnings.
  • Weather can significantly affect our revenue and profitability.
  • We are subject to risks related to government contracts and related procurement regulations.
  • Our business and operations could be negatively affected if we become subject to any securities litigation or shareholder activism, which could cause us to incur significant expense, hinder execution of our business and growth strategy, impact our stock price and adversely affect our reputation.
  • We could be adversely affected by violations of the U.S. Foreign Corrupt Practices Act and similar worldwide anti-bribery laws.
  • Adverse health events, such as an epidemic or a pandemic, could adversely impact our business.
  • Physical and regulatory risks related to climate change could have a material adverse impact on our business, financial condition and results of operations.
  • In connection with mergers and acquisitions, we have recorded goodwill and other intangible assets that could become impaired and adversely affect our operating results. Assessing whether impairment has occurred requires us to make significant judgments and assumptions about the future, which are inherently subject to risks and uncertainties, and if actual events turn out to be materially less favorable than the judgments we make and the assumptions we use, we may be required to record impairment charges in the future.
  • We have a substantial amount of indebtedness which could adversely affect our financial position and prevent us from fulfilling our obligations under our debt agreements.
  • Downgrades in our credit ratings could have a material adverse effect on our business and financial condition.
  • Our chairman and chief executive officer could exert influence over the Company due to his position and significant ownership interest.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. senior Avg
New words: AFS, Alaska, call, category, certified, deterioration, evenly, extended, grew, Maryland, Oklahoma, partly, petition, prepay, quality, receding, relevant, remediation, sell, split, titled, trust, unforeseen, unrealized, wharf
Removed: agency, bond, exceeded, led, legislation, modest, month, municipal, paragraph, upheld