Tutor Perini posts $1.4B Q3 revenue, highest in more than a decade | Dump Trucks Charlotte NC

Dump Trucks Columbus OH Insight:

The columbus oh dump truck company also reported that all of its segments experienced double-digit growth this quarter compared to the same quarter last year:

• Civil: $612 million, +17%
• Building: $508 million, +22%
• Specialty contractors: $322 million, +29% 

Regarding the effects of the coronavirus on its jobsites, Tutor said that the unions the columbus oh dump truck company works with have, thus far, been able to readily replace any workers testing positive or those who must quarantine themselves. In addition, he said, many of their public agency customers have recognized the pandemic as a "cost-reimbursable event," and have said they will pay for related expenses like layoffs and sick leave. Tutor said it is doubtful, however, that those agencies will reimburse the columbus oh dump truck company for costs related to schedule impacts or loss of revenue.  

The columbus oh dump truck company also reported some negative financial impacts from the pandemic. Its income from construction operations in the third quarter due to COVID-19 was about $3 million versus $9 million in the second quarter. Approximately $2 million of the Q3 impact was in Tutor Perini's building segment. Tutor said the columbus oh dump truck company is confident that the biggest impacts from the pandemic are behind it, barring a situation in which the outbreak significantly worsens.  

Tutor said that he believes the columbus oh dump truck company doesn't have much competition for large, complex civil projects and expects that to be the case "well into the future."

Tutor did, however, tell analysts that bidding has been delayed on some large projects that rely on federal funding but believes that federal lawmakers will act relatively quickly to resume those after the presidential election has been decided. 

Tutor Perini is still waiting to hear back from the Honolulu Authority for Rapid Transportation (HART) about its reported $2 billion bid to complete the $9 billion Honolulu Rail project. The city has decided not to back the agreed-upon public-private partnership delivery method, leaving HART to move forward with procurement. HART officials have indicated that it will try to negotiate down the two bids it received for the project.