Tutor Perini Earnings Call Transcripts
Fiscal Year 2026
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Record Q1 cash flow and strong revenue growth were driven by large, higher-margin projects and robust backlog. Adjusted EPS rose 58% year-over-year, and guidance for 2026 was affirmed, with higher earnings expected in 2027. Net cash position and capital flexibility remain strong.
Fiscal Year 2025
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Record 2025 results featured 28% revenue growth, strong profitability, and robust cash flow, with all segments improving and a $20.6B backlog. Management expects double-digit growth in 2026 and 2027, supported by major project wins, improved contract terms, and a strong balance sheet.
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Record quarterly results with strong revenue, cash flow, and profitability led to a raised 2025 EPS outlook. Backlog hit an all-time high, and all segments, including Specialty Contractors, showed improved performance. Continued robust growth and margin expansion are expected into 2026 and 2027.
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Record Q2 results featured 22% revenue growth, record cash flow, and a backlog doubling to $21.1B. 2025 EPS guidance was raised, with strong civil and building segment performance and robust project pipeline, while cash now exceeds debt and capital allocation remains conservative.
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Q1 2025 saw 19% revenue growth, record backlog, and strong cash flow, prompting an EPS guidance increase. Major new project wins and robust bidding activity support a positive multi-year outlook, with earnings expected to double by 2026–2027.
Fiscal Year 2024
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Record operating cash flow and debt reduction in 2024 set the stage for a return to profitability in 2025, with double-digit revenue growth and improved margins expected. Record backlog and major new project awards support a strong multi-year outlook.
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Record backlog and operating cash flow highlight the quarter, despite a net loss from dispute-related charges. Debt reduction is underway, with profitability expected to return in 2025 as new projects ramp up and legacy disputes are resolved.
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Q2 2024 saw 10% revenue growth, strong civil segment margins, and a $223M debt reduction. Backlog reached $10.4B, with major new awards and a positive outlook for earnings and cash flow in H2 and beyond. Share-based compensation and project settlements impacted EPS.