Tutor Perini Wins $155M Arts Center Project, Backlog Grows Stronger

Core Insights - Tutor Perini Corporation (TPC) has secured a new contract worth approximately $155 million for the construction of the Diego Rivera Performing Arts Center at the City College of San Francisco, enhancing its backlog and market position [1][7]. Project Details - The project is set to commence immediately and is expected to reach substantial completion by fall 2028, with the contract amount included in Tutor Perini's backlog for Q3 2025 [2]. - The performing arts center will feature an approximately 78,000 square foot facility, including a 631-seat main performance hall, a 90-seat recital hall, rehearsal spaces, and classrooms [2]. Market Position and Growth - This contract win strengthens Tutor Perini's presence in the education and public-sector construction markets, enhancing backlog visibility and supporting long-term revenue growth [3]. - At the end of Q3 2025, Tutor Perini's backlog reached a record high of $21.6 billion, a 54% year-over-year increase, driven by $2 billion in new awards [5]. - The company has over $25 billion in potential bidding opportunities in the next 12 to 18 months across various sectors, including transit and healthcare [4]. Financial Performance - Tutor Perini's stock has increased by 57.3% over the past six months, outperforming the Zacks Building Products - Heavy Construction industry's growth of 31.7% [6]. - The company remains confident in its backlog position and disciplined bidding strategy, which is expected to support sustained growth and long-term shareholder value creation [6].