Construction firm Tutor Perini's Q3 revenue beats estimates
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
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(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.)