Tutor Perini Pays Off Remaining $47M Term Loan B Debt

Author

Slice of Construction Team
February 24, 2025

Key Highlights:

  • Tutor Perini fully repays remaining $47 million Term Loan B debt.

  • Total debt reduced by $477 million, or 52%, since December 31, 2023.

  • Strong cash flow exceeded debt reduction commitments.

  • Company expects continued cash flow strength and strategic capital allocation.

  • Record backlog positions Tutor Perini for significant growth and profitability.

Notable Quote:

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“Our strong operating cash flow has enabled us to exceed our debt reduction commitments, further strengthening our balance sheet. Looking ahead, we expect to continue generating strong cash flow, explore opportunities to further enhance our capital structure, and consider capital allocation strategies that will drive shareholder value. With our record backlog, we believe Tutor Perini’s business is well-positioned for significant growth and substantially improved profitability over the next several years.”

Gary Smalley, Chief Executive Officer and President at Tutor Perini Corporation

Why This Matters:

Tutor Perini’s aggressive debt reduction reflects strong financial management and operational efficiency. By cutting its debt load by more than half in less than a year, the company enhances its financial flexibility, paving the way for future growth. With a record backlog and confidence in its business outlook, Tutor Perini is well-positioned to capitalize on upcoming opportunities without major concerns about federal funding or tariff impacts.