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Stock impact report

Tutor Perini Further Strengthens Balance Sheet with Payoff of its Term Loan B

Tutor Perini Corporation (TPC) 
Last tutor perini corporation earnings: 2/26 04:15 pm Check Earnings Report
Company Research Source: Business Wire
LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that the Company has paid off its remaining Term Loan B debt of approximately $47 million. With this latest prepayment, Tutor Perini has successfully accelerated the deleveraging of its balance sheet, reducing total debt by $477 million, or 52%, since December 31, 2023.“Our strong operating cash flow has enabled us to exceed our debt reduction commitments, further strengthening our balance sheet,” said Gary Smalley, Chief Executive Officer and President. “Looking ahead, we expect to continue generating strong cash flow, explore opportunities to further enhance our capital structure, and consider capital allocation strategies that will drive shareholder value. With our record backlog, we believe Tutor Perini’s business is well-positioned for significant growth and substantially improved profitability over the next several Show less Read more
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