Tutor Perini Corporation (NYSE: TPC), a leading civil, building, and specialty construction company, saw its stock soar by 5.17% on Wednesday, November 7, 2024, following the release of its Q3 2024 earnings report. The company's strong performance and promising outlook for the future fueled investor confidence, driving the stock price higher.

One of the key highlights of the earnings call was Tutor Perini's record backlog of $14 billion, representing a remarkable 35% increase compared to the previous quarter. This substantial backlog provides the company with a solid foundation for future growth and revenue generation.

Additionally, the company secured several new high-value projects, including a $1.66 billion project in Honolulu and a $1.1 billion tunnel project in New York. These lucrative contracts, combined with higher-margin projects and improved contractual terms, are expected to drive significant revenue growth and profitability for Tutor Perini in 2025 and beyond.