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

Tutor Perini (NYSE:TPC) announced its quarterly earnings data on Wednesday. The construction company reported $1.83 earnings per share 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 for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the company posted $0.07 earnings per share. Tutor Perini’s quarterly revenue was up 21.5% on a year-over-year basis.

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 Price Performance

Shares of NYSE:TPC opened at $82.64 on Thursday. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 35.62 and a beta of 2.12. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.29 and a quick ratio of 1.29. The business’s 50 day simple moving average is $84.02 and its 200-day simple moving average is $81.44. Tutor Perini has a 12 month low of $57.90 and a 12 month high of $102.30.

Analysts Set New Price Targets

TPC has been the topic of several research analyst reports. Zacks Research lowered shares of 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 downgraded shares of Tutor Perini from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Finally, UBS Group raised their price objective on shares of Tutor Perini from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $105.00.

Insider Activity at Tutor Perini

In related news, Chairman Ronald Tutor sold 2,310,000 shares of Tutor Perini 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 completion of the transaction, the chairman directly owned 701,477 shares of the company’s stock, valued at approximately $60,039,416.43. The trade was a 76.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dale Reiss sold 13,400 shares of Tutor Perini stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $92.04, for a total value of $1,233,336.00. Following the transaction, the director directly owned 31,203 shares of the company’s stock, valued at approximately $2,871,924.12. This represents a 30.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,507,609 shares of company stock valued at $216,823,719 in the last ninety days. Corporate insiders own 15.40% of the company’s stock.

About Tutor Perini

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.