Is Tutor Perini Poised to Ride the Defense Buildout Wave?

Tutor Perini Corporation TPC is strengthening its presence in the Indo-Pacific region, which has become a key area for U.S. defense and infrastructure activity. The company’s expansion, especially through the Guam-based subsidiary, Platt Construction, is now a significant part of its long-term growth focus. Tutor Perini is positioned to support U.S. military infrastructure requirements across the Pacific. This buildout is supported by defense priorities and sustained commitments from the U.S. government. The company’s ability to secure large-scale projects in this region may help diversify its revenue sources and balance the project portfolio.

In the first quarter of 2025, Tutor Perini qualified for four separate Multi-Award Construction Contracts (MACCs) in Guam. These contracts offer a combined project capacity of more than $32 billion over the next eight years. These contracts provide access to project opportunities awarded over time through individual task orders. Guam remains a key operating base for the company, with steady project demand supported by U.S. military spending.

Furthermore, Tutor Perini secured additional funding of $241 million for the Apra Harbor Waterfront Repairs project in Guam, bringing the total project value to more than $570 million. The company continues to track other large opportunities across the Indo-Pacific, including U.S.-funded projects on nearby islands, such as Palau and Diego Garcia.

Going forward, Tutor Perini’s operations in Guam and experience in managing defense projects position it to participate in this multi-year buildout. The company’s focus on priority government work in this region supports stable, long-term project visibility and contributes to ongoing backlog strength.

Other Industry Players Supporting Defense Projects

While Tutor Perini continues to expand in defense infrastructure, companies such as Jacobs Solutions Inc. J and Fluor Corporation FLR are also actively supporting defense operations and long-term infrastructure needs in key regions.

Jacobs continues to support defense infrastructure through its engineering, logistics and mission-critical services. The company focuses on long-term partnerships with defense agencies and provides technical support across multiple domains, including space, cyber and logistics. Jacobs offers multidisciplinary solutions that align with evolving defense requirements and is expected to contribute to large-scale defense-related projects across key operational regions.

Fluor is actively involved in supporting defense operations through base management, logistics and infrastructure services. The company focuses on delivering reliable support in complex and remote environments. Fluor’s defense-related services align with ongoing infrastructure needs and long-term military support priorities. Its broad capabilities continue to support defense agencies in maintaining critical operations.

TPC’s Price Performance, Valuation & Estimates

Shares of Tutor Perini have gained 62.8% in the past three months compared with the Zacks Building Products - Heavy Construction industry’s growth of 19.1%.

From a valuation standpoint, TPC trades at a forward 12-month price-to-earnings ratio of 17.71X, down from the industry’s 19.27X.

Tutor Perini’s earnings estimates for 2025 and 2026 have trended upward in the past 60 days by 14.4% to $1.75 per share and 10.8% to $3.09, respectively. The estimated figures for 2025 and 2026 indicate 155.9% and 76.6% year-over-year growth, respectively.

Tutor Perini currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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