Tutor Perini Corporation · NYSE:TPC
Tutor Perini — Investor Presentation (February 2022)
15 slides from Tutor Perini's investor presentation, February 2022
Slide 1: Investor Presentation February 2022
Investor Presentation February 2022 Alaskan Way Viaduct (SR 99) Replacement Project, Seattle
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements contained in this presentation that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding the Company’s expectations, hopes, beliefs
Slide 3: Company Overview
Company Overview Leading provider of diversified general contracting, design-build and self-perform construction services for public and private clients • Civil segment infrastructure projects drive profitability • Increased infrastructure spending has already begun and is expected to be Tutor Per
Slide 4: Diverse Geographic Footprint
Diverse Geographic Footprint Well positioned to capture work in all 50 states and in targeted international markets 4
Slide 5: Representative Significant Projects
Representative Significant Projects (approximate contract values) Various New York MTA East Side Access Projects – $3.3B Los Angeles MTA Purple Line Sections 2 & 3 (JV) – $3.2B California High-Speed Rail (JV) – $2.5B Newark Airport Terminal One, NJ (JV) – $1.5B San Francisco MTA Central Su
Slide 6: Segment Overview and Financials
Segment Overview and Financials (2021 financials; backlog as of year-end 2021) A Leading Construction Services Firm Revenue: $4.6B Income from Construction Operations (ICO): $226.8M(1) Operating Margin: 4.9%(1) Q4-21 Backlog: $8.2B Civil Segment Building Segment Specialty Contractors Segment Revenue
Slide 7: Civil Segment Drives TPC’s Profitability
Civil Segment Drives TPC’s Profitability Construction and rehabilitation of critical infrastructure, including highways, bridges, Winning Large and Highly Visible Projects tunnels, mass-transit systems and wastewater treatment facilities TPC’s highest-margin segment (typically 10% to 12%; 12.7%
Slide 8: Building Segment
Building Segment Private / Non-Residential and Building Construction Success Drivers Public Projects Expertise in Hospitality and Gaming, Large and active bid pipeline across diverse end markets Design-Build and Accelerated Delivery — Significant volume of prospective projects in California an
Slide 9: Specialty Contractors Segment
Specialty Contractors Segment Specialty Contractors Success Drivers One of the largest electrical contractors FIVE STAR ELECTRIC in New York City Strong electrical and mechanical proficiencies Stable demand, especially in New York City and California, driven by substantial work being performed
Slide 10: Vertical Integration: A Competitive Advantage
Vertical Integration: A Competitive Advantage (approximate values) Example Projects: Hudson Yards Development Platform, tunnel and buildings Midtown Manhattan, NY Total project volume: $2.4B New York MTA East Side Access Subway stations, tracks and systems Queens to Manhattan, NY Project value: $3.3
Slide 11: Core Strengths Provide Significant Benefits
Core Strengths Provide Significant Benefits Core Strengths Benefits Realized Cost estimating Greater project cost and schedule Self-perform capabilities certainty Diverse construction experience – Civil, Durable competitive advantage Building and Specialty Contractors Higher profit margi
Slide 12: $8.2B Backlog Provides Revenue Visibility
$8.2B Backlog Provides Revenue Visibility (as of Q4-21) Backlog by Segment Backlog by Customer Specialty Contractors 17% $1.4B Private Building 16% 28% State and Local $1.3B $2.3B Government 71% $5.9B Civil Federal Gov't 55% 13% $4.6B $1.0B Note: Backlog amounts shown for the segments do not sum to
Slide 13: 2022 Guidance
2022 Guidance (as of February 24, 2022) Rev ised 2022 Guidance EPS Range $1.15 - $1.60 Assumptions for 2022: No new significant or worsening impacts from the COVID-19 pandemic General and administrative expenses of $250M to $260M Depreciation expense of approximately $61M Amortization expens
Slide 14: Why Consider Investing in Tutor Perini?
Why Consider Investing in Tutor Perini? Market leader with strong résumé of successfully completed projects Well-positioned to benefit from years of pent-up demand and anticipated incremental spending on U.S. infrastructure projects, particularly with the recent passage of the new $1.2T federal
Slide 15: Contact: Jorge Casado, Vice President, Investor Relations
Contact: Jorge Casado Vice President, Investor Relations (818) 408-5746 Jorge.Casado@tutorperini.com 15