Tutor Perini subsidiary wins $315 million Coast Guard contract

• Perini Management Services secured a $315 million contract from the U.S. Coast Guard for Alaskan infrastructure.
• The transaction expands the company's Q3 2026 project backlog and boosted share price performance.
• The subsidiary stated design work started in late September, with substantial completion targeted for September 2030.

Tutor Perini Corporation (NYSE:TPC) secured a $315 million infrastructure contract through its subsidiary Perini Management Services.

The project delivers a new fuel pier to support major cutter operations at U.S. Coast Guard Base Kodiak in Alaska.

The primary goal of the offshore development involves expanding dock capacity to support 2 major cutter berths simultaneously.

Perini Management Services stated that design work began in late September with substantial completion anticipated in September 2030.

Following the announcement, Tutor Perini Corporation's share price was up at $28.45.

The contract value will be included in the backlog reported for the third quarter of 2026.

Additional project elements cover unexploded ordnance removal, waterfront improvements, utility installations, and a new fueling building.