Construction firm Tutor Perini's Q2 revenue beats estimates, guidance raised

Tutor Perini

05/08/2026 21:39

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

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

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

Company press release: ID:nBw9DJy03a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$1.64 bln
$1.56 bln (4 Analysts)
Q2 EPS
 
$1.23
 
Q2 Net Income
 
$84.07 mln
 
Q2 Gross Profit
 
$211.28 mln
 
Q2 Pretax Profit
 
$114.85 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction & engineering peer group is "buy"
Wall Street's median 12-month price target for Tutor Perini Corporation is $118.00, about 37.7% above its August 4 closing price of $85.71
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 19 three months ago

Reuters Recommended Reads
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Aug 4 - Jacobs beats quarterly profit estimates on strong infrastructure demand

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)