Tutor Perini (NYSE:TPC) Releases Earnings Results, Beats Expectations By $0.49 EPS

Tutor Perini (NYSE:TPC) issued its quarterly earnings results on Wednesday. The construction company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.49, FiscalAI reports. Tutor Perini had a return on equity of 20.95% and a net margin of 2.08%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company earned $0.07 EPS. Tutor Perini’s quarterly revenue was up 21.5% compared to the same quarter last year.

Here are the key takeaways from Tutor Perini’s conference call:

• Raised 2026 adjusted EPS guidance to $5.90–$6.10 from $5.15–$5.45, citing stronger-than-expected project execution and mitigation of previously identified risks. Management also expects double-digit revenue and earnings growth in 2027.
• Third-quarter results set records, including $1.7 billion in revenue, $125 million in operating income, and $331 million in operating cash flow; adjusted EPS rose 59% to $1.83. GAAP results included a debt-extinguishment loss and pension-settlement charge.
• Backlog reached a near-record $20.4 billion after $2.2 billion in awards and adjustments, with a 1.3x book-to-burn ratio. More than three-fourths of expected 2027 revenue is already in backlog, according to management.
• Management cited a pipeline exceeding $200 billion and expects project activity to support growth beyond 2027; it sees potential for further segment-margin improvement, particularly as Specialty Contractors’ newer work ramps up and legacy items roll off.
• Cash and cash equivalents exceeded total debt by $707 million, and the July refinancing reduced the senior-note coupon from 11.875% to 6.625%, which management expects to save $21 million in annual interest expense.

Tutor Perini Trading Down 0.3%

TPC traded down $0.21 during trading on Wednesday, hitting $82.64. 1,711,194 shares of the stock were exchanged, compared to its average volume of 594,963. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a 50 day simple moving average of $84.11 and a 200 day simple moving average of $81.40. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 35.62 and a beta of 2.12. Tutor Perini has a 1 year low of $57.90 and a 1 year high of $102.30.

Insiders Place Their Bets

In other news, Chairman Ronald Tutor sold 2,310,000 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $85.59, for a total transaction of $197,712,900.00. Following the transaction, the chairman owned 701,477 shares of the company’s stock, valued at approximately $60,039,416.43. This represents a 76.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sidney Feltenstein sold 184,209 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $97.05, for a total value of $17,877,483.45. Following the transaction, the director owned 6,700 shares in the company, valued at approximately $650,235. This represents a 96.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 2,507,609 shares of company stock worth $216,823,719. 15.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on TPC shares. Zacks Research downgraded Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Wall Street Zen raised shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Weiss Ratings lowered shares of Tutor Perini from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Finally, UBS Group lifted their price objective on shares of Tutor Perini from $98.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

Tutor Perini Company Profile

Tutor Perini Corporation (NYSE:TPC) is a construction company that provides general contracting, construction management, and design-build services. Its operations are organized around civil, building, and specialty contracting activities, serving public agencies, private developers, and other institutional customers.

The company’s civil construction work includes major infrastructure such as highways, bridges, tunnels, mass-transit systems, airports, water and wastewater facilities, and other transportation and utility projects.