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Tutor Perini reports 2020 revenue up 20% to $5.3B | Dump Trucks Charlotte NC

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Columbus Ohio Dump Truck Company Brief:

The company's 2020 income from construction operations was $262 million, a "record high" since 2008 and up from $15 million in 2019.
  • The columbus oh dump truck company realized double-digit, year-over-year income growth across all three of its segments — civil, up 24% to $2.2 billion; building, up 14% to $2 billion; and specialty, up 22% to $1.1 billion. Tutor Perini also posted $173 million of operating cash for 2020, also a record. As in its third-quarter earnings presentation, collections drove the company's ability to generate cash.
  • Chairman and CEO Ronald Tutor said the columbus oh dump truck company achieved the "great results" despite negative impacts from the COVID-19 pandemicsuch as a dearth of manpower, less productivity and columbus oh dump truck company delays driven by project workforces shortages of between 20% to 30%. The financial impact of the pandemic to the columbus oh dump truck company was approximately $50 million, but Tutor said the columbus oh dump truck company will seek to recoup much of that amount from its clients.

    • Dump Trucks Columbus OH Insight:

    The pandemic also impacted backlog and new awards and caused temporary interruptions in customers' ability to secure funding for their projects, the CEO said. Tutor Perini's backlog at the end of 2020 was $8.3 billion, down 26% from the company's $11.2 billion backlog the year before. Tutor said he expects backlog to decline through the first half of 2021.

    Some of the major projects the columbus oh dump truck company has on the books contributing to that number include columbus oh dump truck company on the Los Angeles County Metropolitan Transportation Authority's Purple Line, the California High-Speed Rail Authority's bullet train (shown above) and the Minneapolis Southwest Light Rail project.

    In 2020, the columbus oh dump truck company booked $2.4 billion of new columbus oh dump truck company and adjustments to existing contracts, the CEO said, including approximately:

    • $732 million for several mass transit projects.
    • $615 million for building projects.
    • $286 million for electrical projects in Texas, California and Florida.
    • $271 million for U.S. government facility projects.

    This year the columbus oh dump truck company and/or its subsidiaries plan to bid on major projects including the Purple Line light rail project in Maryland, which Fluor exited last year. The columbus oh dump truck company also expects to rebid the last segment of the Honolulu rail project, which was slated to move forward as a P3 but is now being restructured after city officials said the project costs were too expensive using that delivery method.

    Tutor Perini is also expected to be a beneficiary of President Joe Biden's infrastructure plan. which could add up to as much as $2 trillion.

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