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June 11, 2014
08:31 EDTTPCTutor Perini awarded $255M contract for Panorama Tower in MIami
Tutor Perini Corporation announced that its subsidiary, Tutor Perini Building Corp., has been selected as the general contractor and has signed a contract with Florida East Coast Realty, LLC, valued at approximately $255M for construction of the Panorama Tower at 1101 Brickell Avenue in Miami, Florida. The scope of work for the project includes construction of an 82-story mixed-use tower that will feature 821 luxury rental apartments, a 250-room hotel, 80,000 square feet of retail space, 40,000 square feet of office space, and a 13-story 1,500-space parking garage. The entire Panorama Tower development will comprise approximately 2.6 million square feet. The tower will also include a recreation deck with several pools, a fully equipped fitness area, a pool deck restaurant, and two social rooms. Pre-construction work began in January 2014. Construction is expected to start in June 2014 with substantial completion expected in late 2017. The company expects to include the value of this contract as part of its reported second-quarter backlog.
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November 15, 2015
14:13 EDTTPCTutor Perini re-evaluating prior FY15 EPS guidance of $1.90-$2.10
Tutor Perini remarked in its Q3 earnings report that it is "re-evaluating its prior 2015 diluted EPS guidance in light of the litigation-related charge, the year-to-date results and the outlook for the remainder of the year." Prior FY15 EPS guidance was $1.90-$2.10, consensus $1.79. Backs FY15 revenue $5B-$5.5B, consensus $5.19B. Note that the "litigation-related charge" resulted in a 28c per share negative impact to Q3 EPS.
14:08 EDTTPCTutor Perini reports Q3 adjusted EPS 68c, consensus 78c
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