Tutor Perini (TPC) Misses Q3 EPS by 26c, Miss on Revenues; Offers FY17 Revenues Below Consensus

Tutor Perini (NYSE: TPC) reported Q3 EPS of $0.47, $0.26 worse than the analyst estimate of $0.73. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.55 billion.

Highlights

• New awards of $1.1 billion in Q3 2017; YTD book-to-burn of 1.36
• Backlog at $7.5 billion, up 12% Y/Y; Civil segment backlog up 54% Y/Y to a new record level
• Cash Flow from Operations of $36.5 million in Q3 2017

Outlook and Guidance

Based on the current backlog and market outlook, the Company is updating its guidance for 2017, with revenue now expected to be approximately $5.0 billion and diluted earnings per share (EPS) now expected in the range of $1.75 to $1.90.

GUIDANCE:

Tutor Perini sees FY2017 EPS of $1.75-$1.90, versus the consensus of $2.26.

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

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