Financial Data and Key Metrics Changes - Revenue increased by $158 million, or 12% year-over-year, reaching $1.2 billion in the construction segment [15] - Gross profit rose by $58 million, or 28%, with adjusted net income improving by $33 million, or 36% [15] - Adjusted EBITDA improved by $67 million, or 45%, with year-to-date operating cash flow of $290 million [15][17] Business Line Data and Key Metrics Changes - In the construction segment, revenue increased by $82 million, or 8% year-over-year, driven by acquisitions [15] - The materials segment saw aggregate volumes increase by 26% and asphalt volumes by 14% year-over-year [16] - Newly acquired companies contributed 1.4 million tons of aggregates and 177,000 tons of asphalt [16] Market Data and Key Metrics Changes - Demand remains strong, particularly in the public market, supporting volume growth in aggregates and asphalt [10] - The southeastern platform, including Warren Paving, performed better than expected, leading to significant increases in asphalt margins [16] Company Strategy and Development Direction - The company has introduced an investment framework focused on supporting core competencies and expanding into new markets through acquisitions [4][5] - Recent acquisitions, including Cindolite, are aimed at enhancing the vertically integrated model and supporting long-term growth [8][21] - The company expects to achieve organic growth targets of 6-8% through 2027 [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the market, supported by the Infrastructure Investment and Jobs Act (IIJA) [26] - The company anticipates continued growth in its CAP portfolio and increased bid-day margins [12][20] - There is optimism regarding the conversion of CAP into revenue, with expectations for acceleration in the fourth quarter and into 2026 [28][44] Other Important Information - The company has more than doubled its aggregate reserves to approximately 2.1 billion tons since 2021 [8] - Cash and marketable securities totaled $617 million, with $1.3 billion of debt outstanding [17] - The company revised its annual revenue target to a range of $4.35 billion to $4.45 billion [19] Q&A Session Summary Question: Sources of CAP change and bidding opportunities - Management noted that the overall market remains strong, supported by the IIJA and private market investments, leading to improved margins and increased CAP [25][26] Question: Conversion of CAP into revenue - Management indicated that Q4 is expected to show an 8% organic growth rate, with confidence in continued growth into 2026 [28] Question: Guidance on EBITDA margin drivers - Management highlighted that both construction and materials segments are contributing to margin expansion, with expectations for continued improvement [31][33] Question: Operating cash flow and CapEx outlook - Management attributed higher operating cash flow to successful claim settlements and collections, while adjusting CapEx guidance to $130 million [35][37] Question: Opportunities with recent acquisitions - Management expressed excitement about the integration of Warren and Pappage, noting strong aggregate demand and opportunities for growth in the southeast [41][42]

Dow Jones Industrial Average ($DOWI) component Caterpillar (CAT) is a key part of the construction industry. It is a $250 billion stock, which was much smaller last spring. But since then, its price has surged. CAT’s earnings report a week ago took the stock down a few percentage points from its recent all-time high. It has more than tripled during the past 5 years. Not bad for an industrial company celebrating its 100th anniversary in 2025! More News from Barchart www.barchart.com The stock is not che ...

Core 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]

The major U.S. index futures are currently pointing to a modestly higher open on Thursday, with stocks poised to add to the gains posted in yesterday's session.Some traders may continue to look to pick up stocks at relatively reduced levels even after Wednesday's advance, as the major averages remain well off last week's record highs.While concerns about an artificial intelligence bubble and the possibility of a near-term correction continue to weigh on investors' minds, the momentum for the currently stil ...

British construction activity has shrunk at its fastest pace since the height of the pandemic https://t.co/4fKUNM4peh ...

Core Insights - Trimble Inc. reported stronger-than-expected third-quarter financial results, raising its full-year outlook due to steady gains in its transportation and logistics segment despite ongoing freight market weakness [1][2] Financial Performance - Trimble's total revenue increased by 3% year-over-year to $901.2 million, with transportation and logistics revenue growing by 4% year-over-year to $134 million [1] - Annualized recurring revenue (ARR) reached $2.31 billion, reflecting a 14% organic growth [2] - Non-GAAP diluted earnings per share were reported at $0.81, exceeding expectations [2] Strategic Initiatives - The company's recurring revenue strength is attributed to the execution of its "connect and scale" strategy, which integrates field operations with digital workflow platforms [2] - Trimble launched a freight marketplace platform with Procter & Gamble as an anchor shipper customer, aiming to create a more responsive and data-driven supply chain ecosystem [5] Segment Performance - The AECO (architecture, engineering, construction, and operations) segment experienced a 17% revenue growth, remaining the largest contributor to Trimble's ARR [6] - The Field Systems segment, which includes geospatial and heavy equipment guidance technology, saw an 8% revenue increase, benefiting from the transition to a subscription model [6] - Both segments benefited from infrastructure spending, industrial construction activity, and the adoption of AI-driven workflows in project planning and execution [7] Market Trends - Despite challenges in trucking and freight markets, demand for connected fleet technologies remains strong as shippers and carriers focus on cost control, fleet efficiency, and driver retention [4]

This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. Dive Brief: Construction salary growth slowed in 2025 as contractors pulled back from aggressive compensation strategies amid market uncertainty, according to a report from accounting and tax advisory firm Baker Tilly. Nonetheless, wage growth projections for 2026 and a rising number of companies offering merit pay and cash incentives hint at expectations ...

Core Insights - The private sector added 42,000 jobs in October, marking a recovery from a loss of 32,000 jobs in September, with the trade, transportation, and utilities industry leading the growth [1][2] - Job growth was modest compared to earlier in the year, with ADP Chief Economist noting that this was the first job addition since July [2] - Year-over-year pay growth remained flat, with job-stayers seeing a 4.5% increase and job-changers at 6.7%, indicating a balance in supply and demand [3] Industry Performance - Five industries added jobs in October: - Trade, transportation, and utilities: +47,000 jobs - Education and health services: +26,000 jobs - Financial activities: +11,000 jobs - Natural resources and mining: +7,000 jobs - Construction: +5,000 jobs [6] - Five industries experienced job losses: - Information: -17,000 jobs - Professional and business services: -15,000 jobs - Other services: -13,000 jobs - Leisure and hospitality: -6,000 jobs - Manufacturing: -3,000 jobs [6] Establishment Size Impact - Only large establishments (500 or more employees) added jobs, contributing 73,000 jobs - Small businesses (1-49 employees) cut 10,000 jobs, while medium establishments (50-499 employees) reduced their workforce by 21,000 [7]

Group 1 - Private sector added 42,000 jobs in October, exceeding economists' estimates of 28,000 jobs [1] - Previous month's payrolls were revised from a loss of 32,000 to a loss of 29,000 [1] - Job creation in October marked the first increase since July, although hiring remains modest compared to earlier this year [2] Group 2 - Trade, transportation, and utilities led job creation with an addition of 47,000 positions [2] - Education and health services added 25,000 jobs, financial activities added 11,000, natural resources and mining contributed 7,000, and construction added 5,000 [2] Group 3 - Information sector lost 17,000 positions, professional and business services lost 15,000 jobs, and other services lost 14,000 [3] - Leisure and hospitality lost 5,000 jobs, while manufacturing lost 3,000 [3] Group 4 - Pay growth has remained largely flat for over a year, indicating a balance in supply and demand [2]

Core Insights - Ferrovial emphasizes risk management and digital innovation as essential for timely and budget-compliant project completion [1][3] - The company has expanded its U.S. operations, achieving significant revenue growth across all divisions in the first nine months of 2025 [2] Group 1: Risk Management and Strategy - The CEO of Ferrovial Construction highlights the importance of early risk management, especially in light of labor shortages and economic volatility [3] - Ferrovial's integrated business model allows for a proactive approach to balancing long-term investments with short-term market dynamics, particularly in high-growth metropolitan areas [4] - The I-66 project in Virginia exemplifies the company's ability to manage short-term pressures while ensuring timely and budget-compliant project delivery [5] Group 2: Collaboration and Risk Allocation - Ferrovial collaborates with partners, subcontractors, and technology providers to tailor risk management strategies for complex infrastructure projects [7] - The company employs contractual structures like joint ventures and public-private partnerships to formalize risk allocation, ensuring that risks are assigned to the parties best equipped to manage them [8]