Tutor Perini Corporation Overview

Tutor Perini Corporation Overview 

Formerly known as Perini Corporation, Tutor Perini Corporation is a North American construction company, and by extension, is one of the largest contractors in the entire United States of America. The corporation since its inception in the year 1894, over a century ago, and approximately 128 years in existence has continued to evolve and transit from stage to stage. The corporation has over the years completed several iconic and notable projects like the CityCenter in Las Vegas, Nevada, Hudson Yards in New York, California High-Speed Rail in Central California, Terminal 3 – McCarran International Airport in Las Vegas, Nevada, Embassy Housing and Infrastructure in Baghdad, Irag, Cosmopolitan Hotel in Las Vegas, Nevada, Purple Line Extension Project Sections 2 & 3 in Los Angeles California,  Airport Expansion – John F. Kennedy International Airport in New York, Ronal Reagan Building and International Trade Center in Washington D.C., Terminal On – Newark Liberty International Airport in Newark, NJ, Lincoln Financial Field Philadelphia, Pennsylvania, SR 99 – Alaska Way Viaduct Replacement Tunnel in Seattle, WA, Hurricane Katrina Repairs in Florida, Mississippi, Louisiana, & Gulf Coast, Encore at Wynn in Las Vegas, Nevada, BART San Francisco Airport Extension in San Francisco, California, amongst others. However, in its entirety, Tutor Perini Corporation’s market niches include but are not limited to Civil Infrastructure which includes bridges, tunnels, airports, highways, and mass transit systems; Building Infrastructure which includes education, healthcare, hospitality and gaming, municipal government, office towers, multi-use, multi-unit residential towers, as well as high technology projects; and lastly, Specialty Contracting which include Electrical, plumbing, heating, air conditioning and ventilation (HVAC), mechanical, concrete placement, as well as fire protection systems. This article, however, tends to avail you of a more detailed, comprehensive, and extensive review of the Tutor Perini Corporation, its operations, and its dealings. As such, all relevant information detailing its key facts, historical background, its product listings, financial overview, as well as its pros and cons will be concisely covered to enable you to understand the significant key and major elements of a Web hosting company as quickly as possible.   

 

Tutor Perini Corporation Key Facts

Founding Year: Tutor Perini Corporation was founded in the year 1894, over a century ago, and approximately 128 years in existence 

Industrial Ranking: Tutor Perini Corporation is ranked on the 2022 Fortune list, taking the 638th position, a feat indicating the company as one of the largest corporations based on revenue generation in the United States.   

Company Type: A Public Corporation (PLC)    

Industry Type: Construction Industry  

Trading Type: Tutor Perini Corporation is traded on the New York Stock Exchange (NYSE) market under the ticker symbol, TPC. Additionally, the company’s stock is a Russell 2000 Component   

Workforce Strength: Tutor Perini Corporation controls a total number 10, 061 employees in its workforce globally.     

Tutor Perini Corporation Historical Background 

The corporation’s long-shot history portrays its gravitational move toward cutting-edge projects as well as its resilience in the creation of the most challenging innovative technologies. In this section, however, you would be shown a brief snapshot of the company’s transition and evolution stages.  

Tutor Perini Corporation was founded by two innovative and determined immigrants, Albert G. tutor, and Bonfiglio Perini who laid the foundation and framework of the Tutor Perini Building Corp. 

Although originally founded in 1894 in Ashland, Massachusetts, the company, Tutor Perini Corporation’s major history began in 1949, when the visionary entrepreneur, Albert G. Tutor founded a family construction enterprise, operating under the name, A.G. Tutor Company, Inc. However, the company witnessed a massive success sequel to a synergistic approach, comprising of father and son. In essence, Tutor Perini Corporation’s upward progression and trajectory milestone began when Ronald Tutor joined his father in building up the business in the year 1963. Tutor Perini Corporation grew from operating as a family-owned civil contractor work into becoming one of the most prosperous and diversified publicly owned construction companies across North America, and by extension, the world. 

In the year 1972, Tutor Perini Corporation continued its seamless growth and partnered with N.M Saliba, a partnership deal with brought extensive and expansionary changes to the company’s overall operations. In the year 1981, Ron Tutor emerges as the president of the Tutor-Saliba Corporation. Upon his appointment as the corporation’s president, the company evolved rapidly into becoming a major colossus and force to reckon with in the construction industry as a result of its keen focus on executing cutting-edge and exceptional projects. 

Having an eye toward strategic growth and development, Ron Tutor identifies a potential partner in the Perini Corporation and leverages that to build the company’s strength to the point it made the corporation earn significant recognition on the basis of infrastructural work and groundbreaking innovations. 

Additionally, Ron Tutor saw the avenue to bring and merge together two like-minded industry powerhouses, as such, he led the recapitalization of the Perini Corporation in the year 1997. 

In the year 2008, the two industry-leading companies officially conjoin and merged together, creating a powerful, and customer-centric entity which now operates under the name, Tutor Perini Corporation. As of today, Tutor Perini Corporation includes over 20 wholly-owned divisions and subsidiaries scattered across the United States, as well as throughout the world. 

Tutor Perini Corporation Major Acquisitions

No doubt, Tutor Perini Corporation has myriads of acquisitions latched in its history, however, for the sake of brevity, this section will only focus on its major purchase. 

In the year 2003, Tutor Perini bought a Florida-based company, operating under the name, James A. Cummings, Inc founded in the year 1981, and whose primary operations deal with the construction of homes and residences. In the year 2005, the company bought a Maryland-based construction company, operating under the name, Cherry Hill Construction. Additionally, in the same year, the company also bought a California-based company, operating under the name, Rudolph & Sletten, Inc. 

In the year 2009, January, the company bought a Philadelphia-based building corporation, operating under the name, Keating Building Corporation. In the year 2010, the company bought a structural concrete company headquartered in Lakeview Terrace, California, operating under the name, Superior Gunite. 

In the year 2011, Tutor Perini Corporation bought, a general contracting company, under the Anderson Companies, headquartered in Gulfport, MS. In the same year, the company also bought a provider of technological and electrical services, operating under the name Fisk Electric; a company located on the coast of Houston, Texas.  

On June 1, 2011, Tutor Perini Corporation bought Frontier-Kemper Constructors, a company dealing with the provision of several construction services which include mine development, civil construction, as well as electrical services. The company’s headquarters is located in Black River Falls. 

And finally, on the 1st of July, 2011, Tutor Perini Corporation acquired GreenStar Services Corporation, a company proving customers with mechanical and electrical services composed of 3 operating entities: WDF, Five Star Electric Corporation as well as Nagelbush. 

Tutor Perini Corporation Key Projects 

As briefly enumerated in the introductory part of this piece, this section will list in its entirety all the significant projects handled by the Tutor Perini Corporation.    

 These projects include: 

CityCenter in Las Vegas, Nevada,  

Hudson Yards in New York,  

California High-Speed Rail in Central California,  

Terminal 3 – McCarran International Airport in Las Vegas, Nevada, 

 Embassy Housing and Infrastructure in Baghdad, Irag, 

 Cosmopolitan Hotel in Las Vegas, Nevada,  

Purple Line Extension Project Sections 2 & 3 in Los Angeles California,  

 Airport Expansion – John F. Kennedy International Airport in New York,  

Ronal Reagan Building and International Trade Center in Washington D.C.,  

Terminal On – Newark Liberty International Airport in Newark, NJ, 

 Lincoln Financial Field Philadelphia, 

 Pennsylvania, SR 99 – Alaska Way  

Viaduct Replacement Tunnel in Seattle, WA,  

Hurricane Katrina Repairs in Florida, Mississippi, Louisiana, & Gulf Coast, 

 Encore at Wynn in Las Vegas, Nevada,  

BART San Francisco Airport Extension in San Francisco, California 

Gaylord National Hotel in Oxon Hill, MD 

Paris Hotel in Las Vegas, NV 

Third Street Light Rail – Phase 2 in San Francisco, CA 

LAPD Administration Building in Los Angeles 

Royal Saudi Air Force Center in Saudi Arabia 

Tutor Perini Corporation Services 

The company’s overall services include: 

Design-Build 

Green Building 

Self-Perform 

Virtual Design & Construction 

Preconstruction 

Corporation Key Financials 

Revenue: 4.641 Billion USD (2022)

Net Income: 91.9 Million USD (2022) 

Total Assets: 4. 724 Billion USD (2022) 

Total Equity: 1.654 Billion USD (2022) 

Pros and Cons of working for Tutor Perini Corporation

According to reviews by employees on Glassdoor, and Indeed.com below are the outlined pros and cons of Tutor Perini Corporations 

Pros 

Competitive Remuneration 

Great workspace 

Great Organizational Culture 

Avenue for career advancement

Cons 

Long & Extensive Working Hours 

Bureaucracy 

Conclusion 

Finally, I hope this piece has been able to address extensively what Tutor Perini Corporation is all about, beginning with a quick overview of the company’s key facts, its historical snapshot, its acquisition and transition stages with dates, its notable projects, its services, its key financial overview, and finally, its pros and cons. Thus, with all of these sections comprehensively addressed for you to have adequate insight into the company, I hope you are able to grasp all there is to know, and that this piece will by extension help you make a rational decision.