Tutor Perini Likely Contractor for LAX Project

Tutor Perini Corp. was the low bidder for the Los Angeles International Airport Metro Connector project, the company announced Monday.As a result, the Sylmar construction and engineering services firm said it expects to receive a $478 million contract from the Los Angeles County Metropolitan Transportation Authority to do the work but didn’t know exactly when.The project includes building a new major transit station hub connecting the Metro Crenshaw/LAX and Green rail lines and a number of bus routes with the LAX Automated People Mover, the company said in a release. Work is anticipated to begin in the third quarter this year with substantial completion expected in the first quarter of 2025. Shares in Tutor Perini (TPC) closed down 39 cents, or about 2 percent, to $19.68 on the New York Stock Exchange on a day when the Dow Jones industrial average closed up 0.5 percent and the Nasdaq closed up just more than 1 percent.