Tutor Perini(US:TPC) ZACKSยท2025-11-06 14:11Core Insights - Tutor Perini Corporation (TPC) reported strong third-quarter 2025 results, with earnings and revenues exceeding expectations and showing year-over-year growth [1][3] - The company raised its adjusted earnings per share (EPS) guidance for the third consecutive quarter, indicating confidence in future performance [2][10] Financial Performance - Adjusted EPS for the quarter was $1.15, surpassing the Zacks Consensus Estimate of 96 cents by 19.8%, compared to an adjusted loss per share of $1.92 in the same quarter last year [3][7] - Revenues reached $1.42 billion, exceeding the consensus estimate of $1.34 billion by 5.3% and increasing 31% year over year from $1.08 billion [3][8] Backlog and Project Execution - As of September 30, 2025, Tutor Perini's backlog increased by 54% year over year to $21.6 billion, driven by new awards and contract adjustments [4][8] - The Civil segment saw revenues rise by 31% year over year to $770.2 million, with a backlog increase of 26% to $11.2 billion [5] - The Specialty Contractors segment experienced a significant revenue increase of 124% year over year to $226.5 million, with a backlog growth of 7% to $3 billion [6] Operating Highlights - Income from construction operations improved to $40.1 million, a turnaround from a loss of $106.8 million in the prior year, supported by higher-margin projects [7] - Adjusted net income totaled $61.9 million, contrasting with a loss of $84.5 million reported in the same quarter last year [7] Liquidity and Cash Flow - As of September 30, 2025, Tutor Perini had cash and cash equivalents of $695.7 million, up from $455.1 million at the end of 2024 [8] - Net cash provided by operating activities was $574.4 million in the first nine months of 2025, compared to $174 million in the prior year [9] Future Outlook - The company now expects adjusted EPS for 2025 to be in the range of $4.00-$4.20, an increase from the previous guidance of $3.65-$3.95 [10]