Tutor Perini Says Made Considerable Progress In Resolving Seven Of Its Largest Disputed Matters; Expects To Return To Profitability In 2025
Portfolio Pulse from Benzinga Newsdesk
Tutor Perini has made significant progress in resolving major disputes and expects to return to profitability by 2025. Despite a $102 million charge from an adverse arbitration decision, the company anticipates a $180 million cash inflow from other resolved disputes.
October 21, 2024 | 10:21 am
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Tutor Perini has resolved several major disputes, expecting a $180 million cash inflow in Q4 2024. However, a $102 million charge from an adverse arbitration decision will impact Q3 2024 results. The company aims for profitability by 2025.
The resolution of disputes and expected cash inflow are positive developments, indicating improved financial health. The $102 million charge is a setback, but the overall progress suggests a positive outlook, supporting a likely upward movement in stock price.
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