TPC
Tutor Perini Corporation69.46
+1.65+2.43%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q3 '25
Q&A colors margins, backlog lumpiness
Q&A largely reaffirmed the scripted beat on records across cash flow, revenue, and backlog, but added color on segment dynamics: Specialty Contractors flipped positive from core non-dispute work on ramping Tutor Perini projects, with revenue and margins trending higher toward 5-8% by 2026; Building margins to show significant lift mid-2026 from better mix and less competition. About a dozen significant legacy disputes remain. Management sounded even more bullish on 2026-27 via stronger buyouts and early execution. Cash stays robust post-mobilization, though Q4 backlog likely flattish amid lumpiness. No funding risks seen. Board mulls returns soon. Investors watch award timing.
Key Stats
Market Cap
3.66BP/E (TTM)
-Basic EPS (TTM)
-0.55Dividend Yield
0%Recent Filings
8-K
Dividend and $200M buyback authorized
Tutor Perini declared a $0.06 per share quarterly cash dividend, payable December 23 to shareholders of record December 9, and authorized a $200 million share repurchase program. This rewards investors amid record 2025 results: $574.4 million year-to-date operating cash flow, $21.6 billion backlog. Strong cash flow fuels returns. Forward-looking plans face litigation and execution risks.
8-K
Strong Q3 results, raised guidance
Tutor Perini Corporation reported robust Q3 2025 results, with revenue surging 31% year-over-year to $1.42 billion, driven by higher-margin projects in civil and specialty segments. Income from construction operations flipped to $40.1 million from a $106.8 million loss last year, bolstered by $2.0 billion in new awards that pushed backlog to a record $21.6 billion, up 54%. The company raised 2025 adjusted EPS guidance to $4.00-$4.20, while anticipating even stronger performance in 2026 and 2027. Cash flow hit records, yet litigation risks loom large.
10-Q
Q3 FY2025 results
Tutor Perini posted Q3 revenue of $1.4B, up 30.7% y/y from $1.1B, fueled by robust execution on large civil and building projects while specialty contractors rebounded sharply. Income from operations swung to $40.1M from a $106.8M loss, with gross margins climbing to 12.0% versus -2.4% amid the absence of last year's arbitration hits; y/y EPS improved to $0.07 from -$1.92, reconciling to 53.7M diluted shares. Cash swelled to $696M with $574M operating cash flow for the nine months, free cash flow at $468M (derived), and debt trimmed to $413M after repaying the $122M Term Loan B, revolver fully available at $170M. Backlog hit a record $21.6B. Yet litigation drags on legacy disputes.
8-K
Strong Q2 results boost guidance
Tutor Perini reported robust Q2 2025 results, with revenue climbing 22% year-over-year to $1.37 billion, fueled by higher-margin projects across civil, building, and specialty segments. Income from construction operations surged 89% to $76.4 million, while record backlog hit $21.1 billion after $3.1 billion in new awards, including the $1.87 billion Midtown Bus Terminal project. The company raised 2025 GAAP EPS guidance to $1.70-$2.00 and Adjusted EPS to $3.65-$3.95, expecting even stronger performance in 2026-2027. Cash flow roared ahead.
10-Q
Q2 FY2025 results
Tutor Perini posted solid Q2 FY2025 results, with revenue climbing 21.8% y/y to $1.4B on stronger execution across segments, especially Civil's mass-transit projects in California and Hawaii. Income from construction operations surged 88.7% y/y to $76.4M, boosted by $28.0M in favorable change order settlements and improved Midwest project performance, while gross margins expanded to 14.3% from 10.4%. Diluted EPS rose to $0.38 from $0.02, reconciling to net income of $20.0M over 53.2M shares; operating cash flow hit a record $285.3M YTD, yielding $228.3M free cash flow (derived) after $56.9M capex, with cash at $526.1M and full $170.0M revolver availability under compliant covenants. Debt fell to $419.4M, mainly $400.0M 11.875% senior notes due 2029. Backlog swelled to a record $21.1B. Yet litigation risks linger from ongoing disputes like the Alaskan Way Viaduct case.
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