Tutor Perini Subsidiary Secures Contract Valued At $1.1B From New York City Department Of Environmental Protection For Kensico-Eastview Connection Tunnel Project
Portfolio Pulse from Benzinga Newsdesk
Tutor Perini's subsidiary has secured a $1.1 billion contract from the New York City Department of Environmental Protection for the Kensico-Eastview Connection Tunnel Project. The project is expected to start soon and complete by 2030, with the contract value added to the company's backlog in Q3 2024.
October 23, 2024 | 10:12 am
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Tutor Perini's subsidiary has secured a significant $1.1 billion contract for a major infrastructure project, enhancing its backlog and revenue prospects.
The $1.1 billion contract significantly increases Tutor Perini's backlog, indicating strong future revenue streams. The project's scale and long-term nature suggest a positive impact on the company's financials and stock price.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90