Tutor Perini (NYSE: TPC) reported Q1 EPS of ($0.01), $0.08 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $958.49 million versus the consensus estimate of $885.88 million.

“The record new awards and backlog for the first quarter demonstrate our continued success in capturing substantial new project opportunities across all segments of our business,” said Ronald Tutor, Chairman and Chief Executive Officer. “As these and other recent awards progress and contribute more meaningfully as the year develops, we expect to report significantly improved financial results. Our tremendous backlog, combined with what we anticipate will be a multi-year period of increased demand, supports our favorable outlook for strong revenue growth and improved profitability over the next several years.”

The Company is reaffirming its EPS guidance for 2019 in the range of $2.00 to $2.30. As previously mentioned in the earnings release for the fourth quarter of 2018, earnings in 2019 are expected to be weighted more heavily in the second half of the year due to the timing of project ramp-up activities, as well as typical business seasonality.

GUIDANCE:

Tutor Perini sees FY2019 EPS of $2.00-$2.30, versus the consensus of $2.16.

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