Tutor Perini Corporation (NYSE:TPC) Q2 2020 Results Earnings Conference Call July 29, 2020 5:00 PM ET Company Participants Jorge Casado - Vice President of Investor Relations Ronald Tutor - Chairman, Chief Executive Officer Gary Smalley - Executive Vice President, Chief Financial Officer Conference Call Participants Steven Fisher - UBS Alex Rygiel - B. Riley FBR Brent Thielman - D.A. Davidson Operator Good day, ladies and gentlemen and welcome to the Tutor Perini Corporation second quarter 2020 earnings con ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 1-6314 Tutor Perini Corporation (Exact Name of Registrant as Specified in its Charter) MASSACHUSETTS 04-1717 ...

Tutor Perini Corp (NYSE:TPC) Q1 2020 Earnings Conference Call May 6, 2020 5:00 PM ET Company Participants Jorge Casado - VP, IR & Corporate Communications Ronald Tutor - Chairman & CEO Gary Smalley - EVP & CFO Conference Call Participants Alexander Rygiel - B. Riley FBR, Inc. Brent Thielman - D.A. Davidson & Co. Operator Good day, ladies and gentlemen, and welcome to Tutor Perini Corporation First Quarter 2020 Earnings Conference Call. My name is Devon, and I will be your coordinator for today. [Operator In ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact Name of Registrant as Specified in its Charter) MASSACHUSETTS 04-1717070 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) 15901 OLDEN STREET, SYLMAR, CALIFORNIA 91342-1093 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d ...

Tutor Perini Corporation (NYSE:TPC) Q4 2019 Earnings Conference Call February 26, 2020 5:00 PM ET Company Participants Jorge Casado - Vice President of Investor Relations Ronald Tutor - Chairman & Chief Executive Officer Gary Smalley - Executive Vice President & Chief Financial Officer Conference Call Participants Brent Thielman - D.A. Davidson Alex Rygiel - B. Riley FBR Steven Fisher - UBS Operator Good day, ladies and gentlemen, and welcome to the Tutor Perini Corporation Fourth Quarter 2019 Earnings Conf ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: þ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2019 o Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from -to- Commission File No. 1-6314 Tutor Perini Corporation (Exact na ...

Tutor Perini Corporation (NYSE:TPC) Q3 2019 Earnings Conference Call November 6, 2019 5:00 PM ET Company Participants Jorge Casado - Vice President of Investor Relations Ronald Tutor - Chairman and Chief Executive Officer Gary Smalley - Executive Vice President and Chief Financial Officer Conference Call Participants Alex Rygiel - B. Riley FBR Steven Fisher - UBS Brent Thielman - D.A. Davidson Operator Good day, ladies and gentlemen, and welcome to the Tutor Perini Corporation Third Quarter 2019 Earnings Co ...

Financial Performance - Consolidated revenue for Q3 2019 was $1.2 billion, up from $1.1 billion in Q3 2018, while revenue for the nine months ended September 30, 2019, remained at $3.3 billion[165]. - Income from construction operations for Q3 2019 was $47.9 million, compared to $47.3 million in Q3 2018; however, there was a loss of $270.9 million for the nine months ended September 30, 2019, primarily due to a $379.9 million goodwill impairment charge[166]. - Adjusted income from construction operations for the nine months ended September 30, 2019, was $109.0 million, excluding the goodwill impairment charge[166]. - Diluted earnings per share for Q3 2019 was $0.38, while the loss per share for the nine months was $6.01, compared to earnings of $0.42 and $0.68 for the same periods in 2018[168]. Awards and Backlog - Consolidated new awards for Q3 2019 totaled $0.7 billion, down from $0.9 billion in Q3 2018, while total new awards for the nine months were $4.9 billion, up from $4.5 billion in the same period last year[169]. - Consolidated backlog as of September 30, 2019, was $10.9 billion, a 17% increase from $9.3 billion at December 31, 2018, and a 28% increase from $8.5 billion at September 30, 2018[170]. - The Civil segment accounted for approximately 55% of the backlog, with significant projects including the $1.4 billion Purple Line Section 3 Stations project and the $350 million Table Mountain Hotel and Casino project[170]. - New awards in the Civil segment totaled $293 million and $2.1 billion for the three and nine months ended September 30, 2019, compared to $346 million and $1.6 billion for the same periods in 2018[186]. - Backlog for the Civil segment was $5.9 billion as of September 30, 2019, up 28% from $4.7 billion as of September 30, 2018[187]. - New awards in the Building segment totaled $199 million and $1.6 billion for the three and nine months ended September 30, 2019, compared to $493 million and $1.8 billion for the same periods in 2018[191]. - Backlog for the Building segment was $2.7 billion as of September 30, 2019, up 25% from $2.1 billion as of September 30, 2018[192]. - Backlog for the Specialty Contractors segment was $2.3 billion as of September 30, 2019, up 31% from $1.7 billion as of September 30, 2018[198]. Segment Performance - Civil segment revenue for the three and nine months ended September 30, 2019 increased by 22% and 21%, respectively, compared to the same periods in 2018, driven by increased project execution activities[182]. - Adjusted income from construction operations for the Civil segment increased by 23% and 48% for the three and nine months ended September 30, 2019, respectively, compared to the same periods in 2018[183]. - Building segment revenue for the three and nine months ended September 30, 2019 decreased by 9% and 8%, respectively, compared to the same periods in 2018[188]. - Adjusted income from construction operations for the Building segment decreased by 15% and 27% for the three and nine months ended September 30, 2019, respectively, compared to the same periods in 2018[189]. - Specialty Contractors segment revenue for the three months ended September 30, 2019 increased by 6% compared to the same period in 2018, while revenue for the nine months decreased by 15%[194]. Tax and Financial Ratios - The effective tax rate for Q3 2019 was 17.3%, compared to 22.5% in Q3 2018; the nine-month effective tax rate was 11.0%, down from 26.2% in the prior year[167]. - The leverage ratio under the 2017 Credit Facility was 2.64 to 1.00, well below the required maximum of 3.50 to 1.00[212]. - The fixed charge coverage ratio was 3.45 to 1.00, exceeding the required minimum of 1.25 to 1.00[212]. Cash Flow and Working Capital - Cash and cash equivalents increased to $207.1 million as of September 30, 2019, up from $116.1 million as of December 31, 2018[204]. - Net cash provided by operating activities for the nine months ended September 30, 2019, was $111.4 million, with $222.9 million generated in the third quarter[205]. - The increase in cash provided by operating activities compared to the same period in 2018 was $146.1 million, primarily due to favorable timing of payments and changes in accounts payable[206]. - Cash used for investing activities was $66.1 million for the first nine months of 2019, compared to $58.5 million in the same period of 2018[207]. - Net cash provided by financing activities was $48.3 million for the first nine months of 2019, primarily due to increased net borrowings of $66.1 million[208]. - Working capital as of September 30, 2019, was $1.7 billion, with a current assets to current liabilities ratio of 1.88[209]. - Restricted cash and investments totaled $74.0 million as of September 30, 2019, compared to $61.9 million as of December 31, 2018[204]. Future Outlook - The company anticipates continued growth driven by long-term capital spending plans, with approximately $200 billion in funding approved for transportation projects in various states[174]. - The outlook for growth remains favorable, particularly in the Civil and Specialty Contractors segments, despite potential delays in project commencements and completions[174]. - The company had no material changes in contractual obligations from the previous year[213].

Financial Data and Key Metrics Changes - The company reported a revenue of $1.1 billion for Q2 2019, slightly up from the previous year, but impacted by project delays [33] - Gross profit for Q2 2019 was $101 million, down 15% year-over-year, with a gross margin of 9% [35] - Adjusted net income attributable to the company was $9 million or $0.18 per diluted share, compared to $24.9 million or $0.49 per diluted share in the same quarter last year [46] Business Line Data and Key Metrics Changes - Civil segment revenue was $474 million, up 18% year-over-year, benefiting from newer projects [33] - Building segment revenue was $428 million, lower than the previous year due to timing of revenue recognition [34] - Specialty Contractors segment reported an adjusted loss of $4 million, compared to an operating income of $7 million in the same quarter last year [41] Market Data and Key Metrics Changes - The company finished the quarter with a backlog of $11.4 billion, up 31% year-over-year, indicating strong market demand [12] - Approximately 75% of the total backlog is comprised of higher-margin specialty and civil work [12] Company Strategy and Development Direction - The company remains focused on improving the performance of its Specialty Contractors group, with a new executive appointed to stabilize operations [10][42] - The long-term outlook for revenue growth and increased earnings is positive, particularly with a backlog represented by higher-margin civil projects [57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the future despite the impairment charge and project delays, citing a strong market demand for construction services [6][55] - The company anticipates significant cash flow improvements in the second half of 2019, driven by the reduction of unbilled receivables and project execution [50][59] Other Important Information - The company took a non-cash goodwill impairment charge in Q2 2019 due to a decline in stock price, which does not affect cash flows or financial strength [5][31] - The company is actively negotiating and settling claims and change orders, with expectations of significant collections in the near future [25][93] Q&A Session Summary Question: Were the adjusted results only adjusted for the goodwill charges? - The adjusted results were only adjusted for the goodwill, with all other items reported in accordance with GAAP [65] Question: How much did the weather impact the Newark project? - The weather caused approximately $60 million of deferred revenue, with 93 days of excess weather delays reported [67] Question: What is the confidence level regarding the High-Speed Rail project? - Management expressed confidence that the right-of-ways will be handed over by September, allowing for significant project progress [85] Question: What difficulties has the Specialty group encountered? - The Specialty group has faced performance issues, and management expects the new executive to stabilize operations over the next few months [88]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 1-6314 Tutor Perini Corporation (Exact Name of Registrant as Specified in its Charter) MASSACHUSETTS 04-1717 ...