Tutor Perini Corporation’s subsidiary, Perini Management Services, Inc. (PMSI), has been awarded a $900 million Multiple‑Award Task Order Contract (MATOC) by the U.S. Army Corps of Engineers, Middle East District. The MATOC provides shared capacity of $900 million over seven years, comprising a two‑year base period and five one‑year option periods, and is focused on design‑bid‑build services for the Israeli Ministry of Defense and other Israeli customers.
The award extends PMSI’s presence in the Middle East, building on its experience in Iraq, Afghanistan, Saudi Arabia, Pakistan, Lebanon and Egypt. By securing this contract, Tutor Perini positions itself to capture a larger share of defense‑related construction work in the region, reinforcing its strategy of leveraging self‑performed specialty services to win high‑margin, high‑complexity projects. The contract’s scope—maintenance, repairs, alterations, demolition, site and infrastructure improvements, airfield aprons and pavements, aircraft hangars, utility plants, maintenance facilities, warehouses and other facilities—aligns closely with the company’s specialty‑contracting capabilities and is expected to generate a steady, long‑term revenue stream.
Tutor Perini’s Q3 2025 earnings report showed revenue up 31% year‑over‑year to $2.89 billion and adjusted earnings per share higher than the prior year, reflecting strong demand across its civil, building and specialty segments. The new MATOC adds to the company’s already robust backlog and is projected to contribute significantly to future revenue, further supporting the company’s growth trajectory and its focus on high‑margin projects. The contract is likely to fall within the specialty‑contracting segment, which has been a key driver of the company’s recent profitability gains.
CEO Gary Smalley said the company remains confident in its ability to deliver high‑margin projects and that the new Middle East contract is a testament to Tutor Perini’s execution capabilities and its expanding global footprint. He highlighted the company’s continued focus on strategic capital allocation, including a quarterly dividend and a share‑repurchase program, as evidence of its strong financial position.
The announcement was welcomed by investors, reflecting confidence in Tutor Perini’s growing defense backlog and its ability to secure large, long‑term contracts in high‑growth regions.
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