NYSE$TPC
Tutor Perini Corp · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Reported a net loss due to reduced project execution activities and unfavorable legal rulings, but generated strong operating cash flow.
Tutor Perini reported a decrease in revenue and a net loss for Q3 2022 compared to Q3 2021, primarily due to reduced project execution and unfavorable legal rulings. However, the company generated strong operating cash flow and maintains a healthy backlog.
- Revenue decreased to $1.1 billion compared to $1.2 billion in Q3 2021.
- Net loss attributable to the Company was $32.5 million, or $0.63 loss per diluted share, compared to net income of $15.4 million, or $0.30 earnings per diluted share in Q3 2021.
- Generated $72.6 million in operating cash flow, compared to usage of $21.3 million in Q3 2021.
- Backlog remained strong at $8.4 billion.
Headline financials
Revenue & EPS history
Tutor Perini · Revenue · Quarterly
$1.07B
Revenue by segment
Tutor Perini · $1.07B total across 3 segments · Q3 2022
- Civil$501M-8.3%46.8%
- Building$318M-11.9%29.7%
- Specialty Contractors$252M-7.0%23.5%
Forward guidance
Due to the uncertainty regarding the outcome of ongoing negotiations on various disputes, which could have a positive or negative impact on fourth-quarter financial results, the Company is continuing with its decision to not provide guidance for 2022. Regardless of the outcome of any potential settlements this year, the Company still expects a net loss for 2022.
Tailwinds
- Expects solid operating cash for the rest of this year and in 2023
- Backlog remains healthy at $8.4 billion
- Looks forward to adding several significant new contract awards over the coming months
- Civil business is highly resilient to economic downturns
- Bidding pipeline continues to be very robust and is expected to further expand as substantial incremental funds from the Bipartisan Infrastructure Law flow to our customers to support many existing and future projects
Headwinds
- Uncertainty regarding the outcome of ongoing negotiations on various disputes
- Disputes could have a positive or negative impact on fourth-quarter financial results
- Continuing with its decision to not provide guidance for 2022
- Still expects a net loss for 2022
- Third-quarter earnings were disappointing
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 Q3 2022
-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% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro