Tutor Perini (TPC) Lands A Major Federal Contract That Could Lift Its Backlog

With a short percentage of shares outstanding of 3.42%, Tutor Perini Corporation (NYSE: TPC ) is among the 7 Best Water Infrastructure Stocks to Buy for Scarcity Trends . Tutor Perini Corporation (NYSE:TPC) strengthened its project pipeline on May 27 when its subsidiary, Perini Management Services, secured an approximately $81.8 million contract from the U.S. Coast Guard. The award covers the design and construction of family housing units and a major water storage tank replacement project at USCG Base Kodiak in Alaska. Work is expected to begin immediately, with substantial completion targeted for late 2028. The contract will be added to Tutor Perini’s backlog during the second quarter, further enhancing the company’s already substantial portfolio of infrastructure and government projects. Earlier, on May 6, Tutor Perini Corporation (NYSE:TPC) reported first-quarter adjusted earnings per share of $1.03, exceeding analyst expectations of $0.96. Revenue totaled $1.4 billion, slightly below consensus estimates, but management reaffirmed its full-year 2026 adjusted EPS guidance range of $4.90 to $5.30. The company emphasized its confidence in the business outlook, noting that current guidance includes contingency allowances for unforeseen developments while reflecting expectations for continued strong project execution throughout the year. Tutor Perini Corporation (NYSE:TPC) is a leading construction company headquartered in Sylmar, California, and was founded in 1894. The company specializes in large-scale civil, building, and infrastructure projects, including bridges, highways, transit systems, tunnels, airports, military facilities, and water resource developments. While we acknowledge the potential of TPC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock . READ NEXT: 7 Best 3D Printing Stocks to Buy for Aerospace Components and Top 10 Stocks That Members of Congress Own . Disclosure: None. Follow Insider Monkey on Google News .