NYSE$TPC
Tutor Perini Corp · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported second quarter 2024 results with revenue up 10% and backlog up modestly.
Tutor Perini reported strong operating cash flow and solid year-over-year revenue growth in Q2 2024. The company is affirming its 2024 EPS guidance in the range of $0.85 to $1.10.
- Generated strong operating cash flow of $53.1 million in Q2 2024.
- Revenue of $1.1 billion in Q2 2024, up 10% compared to Q2 2023.
- Backlog of $10.4 billion at the end of Q2 2024, up modestly compared to the end of Q1 2024.
- Affirming 2024 EPS guidance in range of $0.85 to $1.10.
Headline financials
Revenue & EPS history
Tutor Perini · Revenue · Quarterly
$1.13B
Revenue by segment
Tutor Perini · $1.06B total across 3 segments · Q3 2023
- Civil$520M+3.9%49.1%
- Building$365M+14.9%34.5%
- Specialty Contractors$175M-30.6%16.5%
Forward guidance
The Company is affirming its 2024 EPS guidance and still expects EPS to be in the range of $0.85 to $1.10.
Tailwinds
- Anticipated significant backlog growth during the second half of this year and in 2025.
- Pursuing and expecting to capture share of various large project opportunities.
- Some projects have already been bid and others are expected to be bid soon.
- Expects a significant positive impact on third-quarter operating cash flow due to a project settlement.
- Delivered solid year-over-year revenue growth.
Headwinds
- Impact of higher share-based compensation expense due to a substantial increase in stock price during the second quarter.
- Unfavorable adjustment due to a project settlement.
- Unfavorable outcomes of existing or future litigation or dispute resolution proceedings.
- Revisions of estimates of contract risks, revenue or costs, economic factors such as inflation, the timing of new awards, or the pace of project execution.
- Contract requirements to perform extra work beyond the initial project scope.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
-0.2%
Avg return
Earnings day
+2.0%
Avg return
5 days after
+0.4%
Avg return
30 days after
48%
31 / 65 earnings
Positive
+34.4%
Q4 2024
Best reaction
-30.3%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.3% | -14.9% | -27.6% | |
| Q4 2025 | -15.7% | -17.5% | -14.8% | |
| Q3 2025 | -1.2% | -7.8% | -0.1% | |
| Q1 2025 | +25.2% | +51.6% | +71.8% | |
| Q4 2024 | +34.4% | +25.6% | +7.5% | |
| Q3 2024 | +21.3% | +11.8% | -2.3% | |
| Q2 2024 | -30.3% | -24.5% | -3.7% | |
| Q1 2024 | +2.4% | +8.4% | +15.0% | |
| Q4 2023 | +25.1% | +28.1% | +59.6% | |
| Q3 2023 | -3.2% | +9.5% | +10.9% | |
| Q2 2023 | -3.9% | +11.1% | +5.7% | |
| Q1 2023 | +2.9% | -4.0% | -10.9% | |
| Q4 2022 | -17.3% | -15.2% | -28.3% | |
| Q3 2022 | -0.7% | +4.2% | -1.2% | |
| Q2 2022 | -18.9% | -20.0% | -26.7% | |
| Q1 2022 | +2.9% | -4.2% | -11.2% | |
| Q4 2021 | -6.2% | -16.0% | -6.8% | |
| Q3 2021 | -5.9% | +3.5% | -7.1% | |
| Q2 2021 | -1.4% | -0.3% | -1.2% | |
| Q1 2021 | +0.4% | +2.8% | -14.8% | |
| Q4 2020 | -1.2% | -12.9% | +1.9% | |
| Q3 2020 | -5.0% | -8.1% | -7.8% | |
| Q2 2020 | +3.8% | +6.1% | +7.3% | |
| Q1 2020 | +14.4% | +10.3% | +20.1% | |
| Q4 2019 | +4.7% | +21.0% | -48.0% | |
| Q3 2019 | +10.1% | +14.3% | -10.2% | |
| Q2 2019 | -6.7% | -5.3% | -6.2% | |
| Q1 2019 | +2.6% | +10.7% | +16.6% | |
| Q4 2018 | +6.5% | +8.3% | -3.1% | |
| Q3 2018 | -2.3% | -6.0% | -5.3% | |
| Q2 2018 | +9.7% | +6.8% | +6.1% | |
| Q1 2018 | -1.4% | +5.0% | -6.3% | |
| Q4 2017 | +7.3% | -2.4% | -2.0% | |
| Q3 2017 | -6.2% | -7.6% | +7.6% | |
| Q2 2017 | +4.4% | -1.1% | -1.1% | |
| Q1 2017 | -1.1% | -1.9% | -1.0% | |
| Q4 2016 | +4.0% | +5.5% | +2.3% | |
| Q3 2016 | +2.9% | +5.6% | +38.6% | |
| Q2 2016 | -4.8% | -1.3% | -6.9% | |
| Q1 2016 | -0.8% | — | — | |
| Q4 2015 | +9.2% | — | — | |
| Q3 2015 | +1.5% | — | — | |
| Q2 2015 | -16.6% | — | — | |
| Q1 2015 | +0.4% | — | — | |
| Q4 2014 | -10.7% | — | — | |
| Q3 2014 | +0.9% | — | — | |
| Q2 2014 | +3.8% | — | — | |
| Q1 2014 | +3.4% | — | — | |
| Q4 2013 | +9.0% | — | — | |
| Q3 2013 | -2.6% | — | — | |
| Q2 2013 | -2.1% | — | — | |
| Q1 2013 | -1.8% | — | — | |
| Q4 2012 | -4.5% | — | — | |
| Q3 2012 | +24.4% | — | — | |
| Q2 2012 | -12.8% | — | — | |
| Q1 2011 | -18.7% | — | — | |
| Q1 2012 | +2.8% | — | — | |
| Q4 2011 | -9.0% | — | — | |
| Q4 2009 | -9.0% | — | — | |
| Q3 2010 | +3.8% | — | — | |
| Q3 2011 | +3.8% | — | — | |
| Q4 2010 | -15.7% | — | — | |
| Q2 2010 | -15.7% | — | — | |
| Q2 2011 | -15.7% | — | — | |
| Q1 2010 | +8.2% | — | — |
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