Tutor Perini Stock Earnings Reports

Tutor Perini reported a strong start to 2026 with record first-quarter operating cash flow of $147 million (up 542% YoY) and revenue of $1.4 billion (up 11% YoY). Adjusted EPS was $1.03, up 58% YoY, while GAAP EPS was $0.48. Backlog remains robust at $19.8 billion, supported by nine recent mega projects and nearly $700 million of awards in Q1. Segment highlights: Civil delivered its highest-ever Q1 operating income and a 12.6% margin; Building operating income rose 56% with a 3.5% margin; Specialty Contractors turned marginally profitable and is expected to improve. The board declared a $0.06 quarterly dividend and the company repurchased ~$20 million of stock under a $200 million buyback authorization. Management reaffirmed 2026 adjusted EPS guidance of $4.90–$5.30, expects double-digit revenue growth in 2026 and significantly higher earnings in 2027 as large projects ramp, and highlighted continued strong cash generation and a strengthened net cash position (cash > debt by $404 million). They plan to opportunistically continue buybacks, refinance debt to materially lower interest expense (targeting substantially reduced rates), and remain selective in bidding with focus on higher-margin, favorable-contract projects. A notable headwind: an unfavorable legal ruling on the W/Element Hotel dispute (approx. $175 million damages) that the company will appeal; only an immaterial charge was recognized in Q1. Management also outlined a rich pipeline of large bidding opportunities (e.g., Penn Station transformation, Blatnik Bridge, CA high-speed rail segments, Sepulveda Transit Corridor, Newark Terminal B) and growth opportunities in the Indo-Pacific region and data-center/tech-related work via the Specialty segment.