Construction firm Tutor Perini's Q2 revenue beats estimates, guidance raised
TPC•Outlook
- Tutor Perini raises 2026 adjusted EPS guidance to $5.15-$5.45 from $4.90-$5.30
- Company expects 2027 adjusted EPS to be substantially higher than upper end of 2026 guidance
- Tutor Perini anticipates continued strong operating cash flow in H2 2026 and beyond
Overview
- U.S. construction firm's Q2 revenue rose 19% yr/yr, beating analyst expectations
- Adjusted EPS for Q2 rose 23% yr/yr to $1.74; 2026 adjusted EPS guidance raised
- Company increased quarterly dividend 50% to $0.09 per share
Result drivers
- Large high-margin projects - Co said revenue and operating income growth were driven by increased activities on newer large, higher-margin projects in New York, California, Hawaii and the Indo-Pacific region
- Lower share-based compensation - Co said a significant decrease in share-based compensation expense boosted Q2 profitability
- Strong operating cash flow - Record first-half operating cash flow was attributed to higher volume and strong execution and collections on profitable projects
Key details and analyst coverage
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