Tutor Perini (TPC) traded lower Wednesday after releasing first-quarter 2026 results and reiterating full-year guidance. While the company posted strong operating cash flow and double-digit revenue growth, investors focused on the year-over-year decline in GAAP diluted EPS to $0.48 from $0.53, creating a mixed headline outcome that weighed on the shares. (investors.tutorperini.com)

For the quarter ended March 31, 2026, Tutor Perini reported revenue of $1.4 billion, up 11% from the prior year period, and operating cash flow of $146.9 million, which it described as a record first-quarter level. Adjusted diluted EPS rose to $1.03 from $0.65, but reported (GAAP) diluted EPS declined to $0.48 from $0.53. (investors.tutorperini.com)

The company attributed the year-over-year pressure on profitability to a sharp increase in share-based compensation expense, up $23.5 million versus the year-ago quarter, which it tied to its substantially higher stock price affecting the fair value of certain liability-classified awards. Tutor Perini said that expense is expected to decrease in 2026 compared with 2025 and fall more significantly in 2027 as awards vest. (investors.tutorperini.com)

Tutor Perini reaffirmed 2026 adjusted EPS guidance of $4.90 to $5.30 and ended the quarter with backlog of $19.8 billion, noting it declined modestly versus year-end 2025 due to award timing and project execution. Separately, the board declared a $0.06 per share quarterly cash dividend payable June 4, 2026 to shareholders of record May 21, 2026, providing an additional near-term shareholder-return datapoint alongside the company’s commentary about continued opportunistic buybacks. (investors.tutorperini.com)