$33.4M Highway 77 Contract Boosts Tutor Perini’s Backlog
Event summary
- $33.4 million contract awarded to Lunda Construction for Highway 77 project in Minnesota.
- Scope includes grading, bridge rehabilitation, and infrastructure upgrades.
- Work begins fall 2026, substantial completion by fall 2028.
- Contract value added to Tutor Perini’s backlog in Q3 2026.
The big picture
Tutor Perini secures another large-scale public infrastructure project, reinforcing its position in the civil construction space. The award aligns with broader U.S. infrastructure investment trends, particularly in transportation upgrades. With a multi-year timeline, this contract provides visibility into the company’s revenue stream but also introduces execution risks typical of complex highway projects.
What we're watching
- Backlog Growth
- How this contract contributes to Tutor Perini’s backlog momentum amid infrastructure spending trends.
- Execution Risk
- Whether Lunda can deliver on schedule given the project’s complexity and duration.
- Public Sector Demand
- The pace at which similar state-funded projects materialize for Tutor Perini’s civil construction segment.
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