Tutor Perini (TPC) Tops Q2 EPS by 10c

Tutor Perini (NYSE: TPC) reported Q2 EPS of $0.58, $0.10 better than the analyst estimate of $0.48. Revenue for the quarter came in at $1.09 billion versus the consensus estimate of $1.15 billion.

The backlog of uncompleted construction work at June 30, 2014 was $7.8 billion, an increase of $1.2 billion, or 17.9%, from $6.6 billion reported at June 30, 2013. The strong increase in backlog since last year has been driven by a large volume of new awards primarily in the Civil segment. In the second quarter, approximately $1.2 billion of new awards and adjustments to existing contracts were added to backlog, including several large awards recorded in the Building segment. New awards included a $255 million multi-unit residential tower project in Florida, a $120 million retail development project in California, a $113 million hospitality and gaming development project in Mississippi, and a $67 million excavation and tunnel project in British Columbia.

For earnings history and earnings-related data on Tutor Perini (TPC) click here.

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