Tutor Perini (TPC) Provides Update Regarding Recent Developments
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Tutor Perini Provides Update Regarding Recent Developments
October 21, 2024 6:00 AM EDTAnticipating strong operating cash flow of approximately $175 million year-to-date through Q3 2024 and new record operating cash flow in the range of $425 million to $575 million for full-year 2024 Planning to utilize anticipated strong 2024 cash collections to prepay $100 million to $150 million of Term Loan B debt by December 31, 2024, with further prepayments of $50 million to $75 million expected in Q1 2025 Expecting record backlog of approximately $14 billion as of September 30, 2024, up 35% compared to the backlog at June 30, 2024, driven by certain significant new project awards, two of which have not yet been announced Awaiting owners decisions... More
