Tutor Perini's Business Segments

Tutor Perini Corporation, formerly known as Perini Corporation, was incorporated in 1918 as a successor to businesses which had been engaged in providing construction services since 1894. Tutor Perini Corporation and its consolidated subsidiaries is a leading construction company, based on revenue, as ranked by Engineering News-Record (“ENR”), offering diversified general contracting, construction management and design-build services to private customers and public agencies throughout the world. Our corporate headquarters are in Sylmar, California, and we have various other principal office locations throughout the United States and certain U.S. territories. Our common stock is listed on the New York Stock Exchange under the symbol “TPC”. We are incorporated under the laws of the Commonwealth of Massachusetts.

Tutor Perini Corporation Overview

Tutor Perini Corporation is a leading civil, building, and specialty contractors firm based in the United States, specializing in a wide array of construction services catered to both public and private sector clients. Established in 1894, the corporation has evolved into a robust enterprise recognized for its expertise in large-scale, complex infrastructure projects.

Segments of Operation

The company operates through three primary segments: Civil, Building, and Specialty Contractors, each with distinct services, capabilities, and market focus.

Civil Segment

The Civil segment is dedicated to public works construction, focusing on the repair, replacement, and reconstruction of vital infrastructure across the United States. Some key aspects include:

1. Services Offered:
- Heavy Civil Construction: Activities include building highways, bridges, and mass-transit systems.
- Environmental Infrastructure: Construction and rehabilitation of water management and wastewater treatment facilities.

2. Acquisitions and Legacy Operations:
- The segment includes legacy operations of organizations like Perini Corporation and Tutor-Saliba, along with acquired companies such as:
- Frontier-Kemper: Specializes in tunnel construction, hydroelectric projects, and mine development.
- Lunda Construction: Focuses on constructing and rehabilitating bridges, railroads, and civil structures.
- Becho: Engages in drilling and excavation support primarily in the southwestern U.S.

3. Client Procurement:
- Contracts are typically awarded through either competitive bidding or a request for proposals, emphasizing both price and technical capabilities.
- The firm has established strong qualifications that allow it to compete effectively for complex projects.

4. Market Positioning:
- Ranked as the fourth largest domestic heavy contractor by ENR, particularly well-regarded in the transportation sector.
- Capitalizes on significant government funding initiatives aimed at U.S. infrastructure improvements.

5. Ongoing Projects:
- Major projects include the East Side Access in New York, California High-Speed Rail, and various rehabilitation efforts on critical infrastructure like the Verrazano-Narrows Bridge.

Building Segment

The Building segment is known for its expertise in diverse building markets and includes the following:

1. Service Offerings:
- General contracting, design-build, preconstruction, and comprehensive construction services.
- Specialized services in specific markets including hospitality, healthcare, and education.

2. Divisions and Focus Areas:
- Tutor Perini Building Corp.: Manages large-scale building projects nationally.
- Rudolph and Sletten: Focuses on complex projects in California across several sectors.
- Roy Anderson Corp.: Offers services primarily in the southeastern U.S. including rapid disaster response.

3. Recognition:
- Recognized as the tenth largest general building contractor in the U.S.
- Established as a leader in the hospitality market, working on high-end resorts and casinos.

4. Notable Projects:
- Recent and ongoing efforts include significant developments in Miami, New York, and various healthcare facilities, showcasing capability across various sectors.

Specialty Contractors Segment

The Specialty Contractors segment provides focused services in mechanical, electrical, plumbing, HVAC, and fire protection systems:

1. Core Services:
- Offers essential construction services for civil and building projects across commercial and industrial markets.
- Provides greater control over scheduling and project risk management.

2. Key Players:
- Five Star Electric: Major player in New York providing electrical contracting in high-end buildings.
- Fisk Electric: Covers electrical construction markets in the southwest and southeast.
- WDF, Nagelbush, and Desert Mechanical: Focus on mechanical and HVAC services across various states.

3. Infrastructure Projects:
- Works on diverse projects including bridges, dams, and tunnels, demonstrating a wide area of expertise.

International Operations

In addition to its domestic projects, Tutor Perini also extends its capabilities internationally:

- Global Presence: The company has undertaken various projects in overseas markets, leveraging its expertise in large-scale construction and its strong financial health.
- Diverse Portfolio: Projects outside the U.S. may include infrastructure improvements, military contracts, and private developments, demonstrating flexibility and adaptability to international standards and regulatory environments.

Conclusion

Tutor Perini Corporation stands as a multifaceted construction powerhouse with a comprehensive approach to both civil and building projects. The combination of its long-standing history, extensive range of services, skilled workforce, and strong market positioning provides abundant opportunities for continued growth and excellence in infrastructure and building endeavors. As the demand for infrastructure modernization continues to rise, Tutor Perini is well-positioned to leverage its capabilities across both domestic and international markets.