Core Insights - The demand for government and commercial infrastructure contracts is at its peak, benefiting companies like Tutor Perini Corporation (TPC) and KBR, Inc. (KBR) [1][2] Infrastructure Market Dynamics - The U.S. infrastructure market is bolstered by federal and state funding initiatives aimed at enhancing public infrastructure and sustainability [2] - A recent Federal Reserve rate cut of 0.25 percentage points, with expectations of two additional cuts in 2025, is further catalyzing infrastructure investments [2] Tutor Perini Corporation (TPC) - TPC is focusing on high-margin project opportunities and selective bidding strategies to enhance long-term revenue visibility and profitability [3] - As of June 30, 2025, TPC's total backlog increased by 102% year-over-year to a record high of $21.1 billion, driven by robust project wins in its Civil and Building segments [4][9] - Major contract awards since the second quarter of 2025 include a $60.2 million contract from Domtar Paper Company and a $960 million contract for the UCSF Benioff Children's Hospital [5] - TPC's strategic bidding approach targets projects with limited competition and favorable contract terms, positioning the company for long-term growth [6] - Despite recent improvements, TPC faces operational and financial challenges, including tariffs, labor shortages, and material cost inflation [7] KBR, Inc. (KBR) - KBR benefits from a diversified global reach and a backlog of $21.57 billion as of July 4, 2025, reflecting a 7.3% year-over-year increase [8][9] - The company has reported significant contract wins, including a $2.459 billion contract from NASA, and anticipates a compounded annual growth rate (CAGR) of over 9% in total revenues through 2027 [10] - KBR is undergoing a strategic restructuring to form two independent companies, which is expected to enhance long-term growth and shareholder value [11] - However, KBR faces risks from project delays and the removal of its HomeSafe contract, which may negatively impact near-term revenue visibility [12] Stock Performance and Valuation - TPC's stock has outperformed KBR's and the broader construction sector over the past six months [13] - TPC trades at a premium valuation compared to KBR, which offers a discounted valuation with steady, diversified exposure [9][15] - TPC's earnings per share (EPS) estimates indicate a 220.8% year-over-year growth for 2025, while KBR's EPS estimates imply a 12.9% growth [17][18] Investment Considerations - TPC is capitalizing on record public infrastructure investments and has a strong backlog, but faces challenges from labor shortages and cost inflation [21] - KBR's diversified exposure and significant backlog position it well for long-term growth, but project delays could impact margins [22] - Overall, TPC offers stronger near-term growth potential, while KBR provides diversification and long-term structural potential [23]

Core Viewpoint - HP Inc. will hold a live audio webcast to discuss its financial results for the third fiscal quarter ending July 31, 2025, on August 27, 2025 [1] Company Overview - HP Inc. is a global technology leader operating in over 170 countries, providing a variety of innovative and sustainable devices, services, and subscriptions across personal computing, printing, 3D printing, hybrid work, and gaming [2]