TPC $88.08 -1.61%

TPC · Tutor Perini Corp

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$88.08 -1.44 (-1.61%) At close · Sep 9

S&P 600 member Russell 2000 member Rebalance outlook locked

Market Cap

$4.64B

52.57M

All earnings calls

Earnings call · FY2024 Q2

Tutor Perini Corp (TPC) Q2 2024 Earnings Call Transcript

Concluded Aug 1, 2024

Aug 1, 2024 0 turns

Period: FY2024 Q2
Runtime: —
Sources: 3 artifacts

8-K 10-Q

Executive readout · one minute

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Backlog growth and new awards 22 Cash flow and dispute resolution 16 Civil segment profitability 15 Debt reduction and balance sheet 10 Share-based compensation and project settlement impacts 8 Bidding pipeline and mega projects 7

Management tone

Confident

Net tone +82 · low hedging

Grounding quotes

“This will continue to bode extremely well for Tutor Perini both in terms of the probabilities of winning new projects, as well as the encompassed margin potential.”
“I would expect that that backlog will climb to levels significantly beyond that prior record over the next six months.”
“We also expect stronger earnings next year and in 2026 even greater.”
“we're pleased with where we are and where we're going”

Forward guidance

1 guided metrics

Management's latest ranges and targets are included below.

Research coverage

3 live sources

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Revenue $1.13B +10.3% YoY

Diluted EPS $0.02

Gross margin 10.4% +4.0 pp YoY

Net income $812,000

Research materials

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8-K earnings release Filed Aug 1, 2024 10-Q report Filed Aug 1, 2024

Forward guidance

From the 8-K filed Aug 1, 2024.

Metric	Period	Guided	Basis	Actual
EPS 2024	2024	$0.85 – $1.10	—	$-3.13 below

Quarter detail

How the reported period landed and where the business moved.

Revenue · segments

Civil$546.49M -1.4% YoY

Building Group$417.87M +26.1% YoY

Specialty Contractors$163.12M +19.7% YoY

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