Exhibit 99.1

News Release

Tutor Perini Reports First-Quarter Results

·                  Backlog of $7.7 billion, up 38% compared to $5.5 billion in Q1 2013

·                  Income from Construction Operations of $41.5 million, up 15% compared to $36.1 million in Q1 2013

·                  Diluted EPS of $0.33, up 6% compared to $0.31 in Q1 2013

·                  Maintaining 2014 guidance: Revenue $4.5 billion to $5.0 billion; diluted EPS $2.20 to $2.40

SYLMAR, California - (BUSINESS WIRE) - May 7, 2014 - Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil and building construction company, today reported results for the first quarter of 2014.

First-Quarter Results

Revenue was $955.2 million for the first quarter of 2014, compared to $992.9 million for the same period last year. Income from construction operations was $41.5 million for the first quarter, compared to $36.1 million for the same period last year. Net income was $15.9 million for the first quarter, compared to $14.8 million for the same period last year. Diluted earnings per share (EPS) were $0.33 for the first quarter, compared to $0.31 for the same period last year.

Revenue decreased 3.8% in the first quarter due primarily to decreased activity on hospitality and gaming projects in California, Arizona, Nevada, and Louisiana, which was partially offset by the ramp-up of civil and building projects at Hudson Yards in New York and a rail transportation project in California. Inclement weather in the first quarter also contributed to the decreased revenue, as it impacted several projects in the northeastern U.S. The increase in net income in the first quarter was due primarily to an overall increase in volume in our Civil segment, which was partially offset by Hurricane Sandy-related projects performed in the first quarter of 2013.

The Company used $41.1 million of cash from operating activities in the first quarter, compared to $84.5 million in the same period last year. The cash usage in the first quarter was primarily driven by the timing of payments primarily in our Civil and Building segments. At March 31, 2014, working capital was $873.5 million, an increase of $86.1 million from $787.4 million at December 31, 2013. The Company believes its financial position and available borrowing under existing credit arrangements are sufficient to support the Company’s current backlog and anticipated new work.

During the first quarter of 2014, the Company completed a reorganization which resulted in the elimination of the Management Services segment. The Management Services segment formerly consisted of the Company’s subsidiaries, Black Construction and Perini Management Services. Effective March 31, 2014, the operations and financial results of Black Construction and Perini Management Services have been consolidated into and are being reported under the Civil and Building segments, respectively. The financial tables attached hereto reflect the results under the reorganized segments for the current and historical periods presented.

Backlog Increased to $7.7 Billion on Continued Strength in New Awards

The backlog of uncompleted construction work at March 31, 2014 was $7.7 billion, an increase of $2.2 billion from $5.5 billion reported at March 31, 2013. Revenue earned during the first quarter partially offset a continued strong volume of new awards and adjustments to contracts in process, which together added approximately $1.7 billion. Significant additions to backlog in the first quarter included two New York MTA East Side Access projects collectively valued at $844 million, a $113 million technology building project in California, the $92 million I-564 Intermodal Connector design-build project in Virginia, and a $74 million wastewater treatment project in New York.

Outlook and Guidance

Commenting on the first-quarter results, Ronald Tutor, Chairman and Chief Executive Officer, said, “The Company delivered another quarter of strong results, which were in line with expectations. Our higher-margin Civil and Specialty Contractors segments continue driving backlog growth, and our Civil segment is driving profitability. We are benefiting from the execution of major multi-year projects awarded over the past 12 months, and the outlook for additional large new awards remains favorable.”

Based on the current outlook, the Company is maintaining its fiscal 2014 guidance for revenue in the range of $4.5 billion to $5.0 billion and diluted EPS in the range of $2.20 to $2.40. The Company continues to expect its earnings in 2014 will be weighted towards the second half of the year.

First-Quarter Conference Call

The Company will host a conference call at 7:30 AM Pacific Time on Wednesday, May 7, 2014, to discuss the first-quarter results. To participate in the conference call, please dial 877-407-8293 five to ten minutes prior to the scheduled time. International callers should dial +1-201-689-8349.

The conference call will be webcasted live over the internet and can be accessed on Tutor Perini’s website at www.tutorperini.com. To listen to the webcast, please visit Tutor Perini’s website at least fifteen minutes prior to the start of the call to register, download, and install any necessary software. For those unable to participate during the live call, the webcast will be available for replay shortly after the call on Tutor Perini’s website.

About Tutor Perini Corporation

Tutor Perini Corporation is a leading civil and building construction company offering diversified general contracting and design-build services to private clients and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large complex projects on time and within budget while adhering to strict quality control measures. We offer general contracting, pre-construction planning, and comprehensive project management services, including the planning and scheduling of the manpower, equipment, materials, and subcontractors required for a project. We also offer self-performed construction services including excavation, concrete forming and placement, steel erection, electrical and mechanical services, plumbing, and HVAC. We are known for our major complex building project commitments as well as our capacity to perform large and complex transportation and heavy civil construction for government agencies and private clients throughout the world.

The statements contained in this Release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including without limitation, statements regarding the Company’s expectations, hopes, beliefs, intentions or strategies regarding the future and statements regarding future guidance or estimates and non-historical performance. These forward-looking statements are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. The Company’s expectations, beliefs and projections are expressed in good faith and the Company believes there is a reasonable basis for them. There can be no assurance that future developments affecting the Company will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the Company’s ability to successfully and timely complete construction projects; the Company’s ability to win new contracts and convert backlog into revenue; the Company’s ability to realize the anticipated economic and business benefits of its acquisitions and its strategy to assemble and operate a Specialty Contractors business segment; the potential delay, suspension, termination, or reduction in scope of a construction project; the continuing validity of the underlying assumptions and estimates of total forecasted project revenue, costs and profits and project schedules; the outcomes of pending or future litigation, arbitration or other dispute resolution proceedings; the availability of borrowed funds on terms acceptable to the Company; the ability to retain certain members of management; the ability to obtain surety bonds to secure its performance under certain construction contracts; possible labor disputes or work stoppages within the construction industry; changes in federal and state appropriations for infrastructure projects and the impact of changing economic conditions on federal, state and local funding for infrastructure projects; possible changes or developments in international or domestic political, social, economic, business, industry, market and regulatory conditions or circumstances; and actions taken or not taken by third parties, including the Company’s customers, suppliers, business partners, and competitors and legislative, regulatory, judicial and other governmental authorities and officials; and other risks and uncertainties discussed under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2013 filed with the Securities and Exchange Commission on February 24, 2014. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Contact:

Tutor Perini Corporation
Jorge Casado, 818-362-8391
Vice President, Investor Relations & Corporate Communications

www.tutorperini.com

Tutor Perini Corporation

Consolidated Balance Sheets

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Consolidated Statements of Operations (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited)

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Selected Segment Information

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*  Primarily consists of corporate general and administrative expenses.

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Selected Backlog Information

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