secwatch.observer — SEC 8-K summary
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Issuer:     TUTOR PERINI CORP (TPC)
CIK:        0000077543
Form:       8-K
Filed at:   2023-04-21T23:59:59+00:00
Accession:  0000077543-23-000056
Event type: litigation
Sentiment:  negative
Materiality: 0.85
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Tutor Perini expects $84M charge from adverse appeals court ruling on GW Bridge bus station project
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- Second Circuit affirmed denial of TPBC's third-party beneficiary rights under lease agreement.
- $84M non-cash pre-tax charge to Q1 2023 income from construction operations.
- Company believes it can still collect substantially all amounts from Port Authority or developer managers.
- Expects to report loss from operations and negative EPS in Q1 2023; guidance to be revised.
- Dispute involves George Washington Bridge Bus Station renovation contract with $113M claim by TPBC.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/77543/000007754323000056/0000077543-23-000056-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/77543/000007754323000056/tpc-20230421.htm
  HTML page:      https://secwatch.observer/filing/0000077543-23-000056

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