Tutor Perini Corporation's (TPC) subsidiary, Five Star Electric, secured a lighting subcontract from AECOMHunt for the new JFK International Airport Terminal 6 (T6). Per the subcontract, the company will provide lighting, lighting controls, and electrical branch wiring for the two-phased undertaking, T6, which is set to open in 2026. The first phase is expected to be completed in firstquarter 2026, while the second phase is scheduled for first-quarter 2028. The contract value will be added to TPC's third-qu ...

Core Viewpoint - Tutor Perini (TPC) has experienced a significant decline in stock performance, with a return of -10.3% over the past month, contrasting with the S&P 500's +1.9% and the heavy construction industry’s +4% [2] Earnings Estimates - For the current quarter, Tutor Perini is projected to report earnings of $0.33 per share, reflecting a year-over-year increase of +146.5%. The Zacks Consensus Estimate has risen by +17.9% in the last 30 days [5] - The consensus earnings estimate for the current fiscal year stands at $0.95, indicating a change of +128.8% from the previous year, although this estimate has decreased by -13.6% over the past month [5] - For the next fiscal year, the consensus estimate is $1.65, which represents a +73.7% increase compared to the prior year, with no changes in the estimate over the past month [6] Revenue Growth - The consensus sales estimate for the current quarter is $1.13 billion, indicating a year-over-year growth of +7%. For the current and next fiscal years, the revenue estimates are $4.5 billion and $4.98 billion, reflecting changes of +16.1% and +10.6%, respectively [9] Recent Performance - In the last reported quarter, Tutor Perini achieved revenues of $1.13 billion, a +10.4% increase year-over-year, with an EPS of $0.19 compared to -$0.72 a year ago [10] - The reported revenues were -4.34% below the Zacks Consensus Estimate of $1.18 billion, while the EPS exceeded estimates by +18.75% [11] - Over the last four quarters, Tutor Perini has surpassed consensus EPS estimates twice and revenue estimates three times [11] Valuation - Tutor Perini is graded B in the Zacks Value Style Score, indicating that it is trading at a discount compared to its peers [15] - Valuation multiples such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF) are essential for assessing whether the stock is overvalued, fairly valued, or undervalued [13][14] Zacks Rank - The Zacks Rank for Tutor Perini is 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [7][16]

Tutor Perini Corporation (TPC) won an approximately $1.66 billion contract from the Honolulu Authority for Rapid Transportation for the City Center Guideway and Stations Project in Honolulu, Hawaii. TPC's experts will design and construct six rail stations and approximately three miles of elevated rail guideway, beginning just east of the existing Middle Street Transit Center Station and ending at the Civic Center Station, which will be located just east of downtown Honolulu. Work on the project is expected ...

Group 1: Project Wins and Backlog Growth - Tutor Perini Corporation's subsidiary, WDF, Inc., secured a $35.5 million project from the New York City Housing Authority to construct a new boiler plant at George Washington Carver Houses [1] - The project is set to begin this month and is expected to be completed by January 2027, contributing to TPC's second-quarter backlog [2] - As of June 30, 2024, TPC's total backlog increased to $10.4 billion from $10 billion as of March 31, with new awards rising to $1.56 billion from $872.8 million in the previous quarter [4] Group 2: Growth Drivers and Market Outlook - Tutor Perini's consistent contract wins are attributed to efficient project execution and diversified delivery methods, which are key growth drivers for the company [3] - The company remains optimistic about its bidding pipeline, citing substantial government funding and limited competition for larger projects, expecting significant backlog growth in the latter half of 2024 and 2025 [6] - Shares of Tutor Perini surged 115% year-to-date, outperforming the Zacks Building Products - Heavy Construction industry's growth of 54.8% [6] Group 3: Notable Contracts - A significant contract contributing to the current quarter's performance is the Connecticut River Bridge Replacement Project, valued at nearly $1.3 billion, awarded to a joint venture with O&G Industries, Inc. [5]

Financial Data and Key Metrics Changes - The company reported a 10% consolidated revenue growth, with revenue for Q2 2024 at $1.13 billion compared to $1.02 billion in Q2 2023 [3][13] - Operating cash flow for Q2 2024 was $53 million, with year-to-date operating cash flow of $151 million, marking the second highest result since the 2008 merger [4][12] - Total debt decreased by $223 million or 25% since the end of last year, bringing total debt to $676 million [5][19] - Net income attributable to the company was $800,000 or $0.02 per diluted share, compared to a net loss of $38 million or a loss of $0.72 per share in Q2 2023 [18] Business Line Data and Key Metrics Changes - Civil segment revenue for Q2 2024 was $546 million, essentially flat compared to Q2 2023, but up 13% year-to-date [14] - Building segment revenue increased by 26% year-over-year to $418 million, driven by healthcare and educational facility projects [14] - Specialty Contractors segment revenue was $163 million, up 20% compared to the same quarter last year, despite some reduced project execution activities [14][15] Market Data and Key Metrics Changes - The company’s backlog was $10.4 billion at the end of Q2 2024, with significant new awards including a $1.3 billion bridge project and various other projects totaling over $1 billion [6][11] - The company anticipates substantial backlog growth due to limited competition for large projects, which is expected to bode well for future revenue and margin potential [7][11] Company Strategy and Development Direction - The company is focused on reducing debt and improving cash flow, with expectations of resolving legacy disputes and collecting associated cash in the latter part of 2024 and early 2025 [5][25] - The company is optimistic about substantial backlog growth and revenue increases in 2025 and 2026, reaffirming EPS guidance for 2024 in the range of $0.85 to $1.10 [11][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong cash generation and operating performance, with expectations for improved earnings in the second half of 2024 due to project timing and seasonality [11][25] - The company noted that while some legacy losses remain, they are working through these issues and expect to see improvements in the Specialty Contractors segment over the next year [29][30] Other Important Information - The increase in share-based compensation expense negatively impacted earnings by $0.19 per share due to a significant rise in stock price [4][21] - Corporate G&A expenses rose to $32 million in Q2 2024, primarily due to higher share-based compensation [17] Q&A Session Summary Question: What is the expected earnings ramp-up in Q3 versus Q4? - Management indicated that both Q3 and Q4 are expected to be stronger, with Q4 likely being slightly stronger than Q3 due to improvements in specialty and larger projects generating higher earnings [27][28] Question: What is causing the losses in the Specialty segment? - Management noted that legacy losses, particularly in Five Star Electric, are still being resolved, with expectations that these issues will diminish by the end of next year [29][30] Question: Is there a cash settlement expected in Q3? - Management confirmed that a significant cash settlement is expected in Q3, with about 60% already collected [31] Question: Will Civil segment margins improve in the second half? - Management believes that while margins will improve, they may not be significantly stronger due to the nature of project ramp-ups [33] Question: What percentage of Q2 cash from operations was from settled claims? - Management estimated that roughly 50% of Q2 cash from operations was from settled claims [34] Question: Will intersegment revenue continue to grow? - Management indicated that intersegment revenue is expected to remain flat in the short term but may increase as more work is secured in the Northeast [35][37] Question: What is the current stance on contract terms and retainage? - Management stated that they do not accept onerous terms and have successfully negotiated favorable terms in recent contracts [42]

Tutor Perini (TPC) came out with quarterly earnings of $0.19 per share, beating the Zacks Consensus Estimate of $0.16 per share. This compares to loss of $0.72 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 18.75%. A quarter ago, it was expected that this construction company would post a loss of $0.18 per share when it actually produced earnings of $0.30, delivering a surprise of 266.67%. Over the last four quarters, the com ...

Tutor Perini Corporation (TPC) is scheduled to report its second quarter of 2024 results on Aug 1, after market close. Estimates The consensus mark for revenues is pegged at $1.18 billion, indicating 15.4% growth from the year-ago quarter's level. The top line of Tutor Perini is expected to have improved year over year on the back of increased project execution activities, primarily under its Building and Civil segments. The uptrend is likely to have been backed by the ongoing favorable demand environment f ...

Core Viewpoint - Tutor Perini (TPC) has gained attention as a trending stock, influenced by earnings estimates and revenue growth projections, which could impact its stock performance in the near future [1][2][3]. Earnings Estimates - The consensus earnings estimate for Tutor Perini is $1.10 for the current fiscal year, reflecting a year-over-year increase of +133.3% [4]. - For the current quarter, the expected earnings per share (EPS) is $0.16, indicating a year-over-year change of +122.2% [11]. - The consensus earnings estimate for the next fiscal year is $1.65, representing a +50% change from the previous year [17]. Revenue Growth - The consensus sales estimate for the current quarter is $1.18 billion, showing a year-over-year increase of +15.4% [6]. - For the current fiscal year, revenue estimates are $4.58 billion and $4.98 billion for the next fiscal year, indicating changes of +18% and +8.8%, respectively [6]. - Tutor Perini reported revenues of $1.05 billion in the last quarter, a year-over-year increase of +35.1% [14]. Performance Metrics - The reported revenues of $1.05 billion exceeded the Zacks Consensus Estimate of $919.6 million by +14.07%, with an EPS surprise of +266.67% [7]. - Over the past month, Tutor Perini's shares have returned +20.3%, outperforming the Zacks S&P 500 composite's +1.8% change [10]. Valuation - Tutor Perini is graded B in terms of valuation, indicating it is trading at a discount compared to its peers [16]. - The analysis of valuation multiples, such as price-to-earnings (P/E) and price-to-sales (P/S), suggests that the stock's current price may not fully reflect its intrinsic value [8][22]. Market Position - Tutor Perini's Zacks Rank is 3 (Hold), suggesting it may perform in line with the broader market in the near term [12][20].

The construction company's shares have seen an increase of 16.16% over the last month, surpassing the Construction sector's gain of 2.65% and the S&P 500's gain of 3.82%. For the full year, the Zacks Consensus Estimates are projecting earnings of $1.10 per share and revenue of $4.58 billion, which would represent changes of +133.33% and +18.04%, respectively, from the prior year. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we ...

Tutor Perini Corporation's (TPC) subsidiary, Perini Management Services, Inc., has won the Alcatraz Island Historic Structures Stabilization and Rehabilitation Project from the National Park Service. The project is located in the San Francisco Bay and expected to offer a safe facility for about 1.4 million annual visitors and staff. The successful execution of the project will help expand the building's ability to resist seismic forces and resolve aging and weather-related impacts on the exterior walls. Con ...