Tutor Perini(US:TPC)2026-02-26 21:18Financial Performance - Tutor Perini reported record operating cash flow of $748.1 million in 2025, up 49% year-over-year from $503.5 million in 2024[4]. - The company achieved record revenue of $5.5 billion in 2025, a 28% increase compared to 2024, with growth across all segments: Civil (34%), Building (15%), and Specialty Contractors (43%)[6]. - Income from construction operations was $232.0 million in 2025, a significant recovery from a loss of $103.8 million in 2024, driven by higher-margin projects[7]. - Diluted earnings per share (EPS) rose to $1.51 in 2025, compared to a diluted loss per share of $3.13 in 2024[8]. - Total revenue for the year ended December 31, 2025, reached $5,861,772, an increase from $4,506,343 in 2024, representing a growth of approximately 30%[42]. - Revenue from external customers for 2025 was $5,543,039, compared to $4,326,922 in 2024, indicating a year-over-year increase of about 28%[42]. - The company reported a net income of $143,081 for 2025, a significant recovery from a net loss of $122,339 in 2024[48]. - Fourth quarter 2025 revenue reached $1,507,365, a 41.1% increase from $1,067,649 in Q4 2024[37]. - Full year 2025 revenue totaled $5,543,039, up 28.2% from $4,326,922 in 2024[37]. - Gross profit for Q4 2025 was $147,724, compared to a loss of $9,462 in Q4 2024[37]. - Net income for Q4 2025 was $34,398, a significant recovery from a loss of $76,208 in Q4 2024[37]. - Basic earnings per share for Q4 2025 was $0.55, compared to a loss of $1.51 in Q4 2024[37]. - The construction operations segment reported an income of $50,112 in Q4 2025, recovering from a loss of $86,245 in Q4 2024[37]. Debt and Assets - The company reduced total debt by $126.8 million, or 24%, ending 2025 with total debt of $407 million[5][14]. - Total current assets increased to $4,116,885 in 2025 from $3,286,667 in 2024, reflecting a growth of approximately 25%[45]. - Total liabilities increased to $3,897,760 in 2025 from $3,084,104 in 2024, marking a rise of about 27%[45]. - The company’s total assets reached $5,160,422 in 2025, compared to $4,242,710 in 2024, indicating a growth of approximately 22%[45]. Backlog and Future Outlook - Consolidated backlog reached $20.6 billion as of December 31, 2025, up 10% year-over-year, supported by $7.4 billion in new awards[12]. - The company expects to book approximately $1 billion into backlog for the Midtown Bus Terminal project in New York City later this year[12]. - Significant bidding opportunities are anticipated in the next 12 to 18 months, including major infrastructure projects funded by the U.S. government[13][20]. - The company anticipates continued growth in 2026, although specific guidance figures were not disclosed[33]. - For 2026, the company anticipates double-digit revenue growth and adjusted EPS in the range of $4.90 to $5.30[22]. Capital Expenditures - Total capital expenditures for Q4 2025 amounted to $74,963, compared to $9,143 in Q4 2024[39]. - Capital expenditures for 2025 totaled $180,854, a substantial increase from $37,409 in 2024, highlighting a focus on investment in property and equipment[48]. Risks and Challenges - The company faces various risks including economic factors, competition, and potential impacts from public health crises[34].