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Construction firm Tutor Perini's Q3 revenue beats estimates

By Reuters News


Overview

  • US construction firm's Q3 revenue rose 22% yr/yr, beating analyst expectations

  • Adjusted EPS for Q3 rose 59% yr/yr

  • Company raised 2026 adjusted EPS guidance


Outlook

  • Tutor Perini raises 2026 adjusted EPS guidance to $5.90-$6.10 from $5.15-$5.45

  • Company anticipates continued strong revenue and adjusted EPS growth in 2027

  • Company says demand remains robust, supported by public infrastructure and commercial projects


Result Drivers

  • HIGHER PROJECT VOLUME - Co said record operating cash flow was driven by higher project volume, strong execution and collections on profitable projects

  • HIGH-MARGIN PROJECTS - Revenue growth was mainly due to increased activity on newer high-margin projects in several regions

  • LOWER COMPENSATION EXPENSE - Decrease in share-based compensation expense contributed to higher income from construction operations


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$1.72 bln

$1.63 bln (4 Analysts)

Q3 EPS

$0.39

Q3 Net Income

$37.88 mln

Q3 Gross Profit

$221.46 mln

Q3 Pretax Profit

$49 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the construction & engineering peer group is "buy"

  • Wall Street's median 12-month price target for Tutor Perini Corporation is $120.00, about 44.8% above its November 3 closing price of $82.85

  • The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 15 three months ago


Reuters Recommended Reads

  • Nov 3 - Everus Construction Q3 revenue beats on data center demand

  • Nov 3 - Primoris Services Q3 revenue falls on lower renewables revenue

  • Nov 4 - Martin Marietta Q3 revenue beats estimates but profit misses on inflationary pressure


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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