Tutor Perini (TPC) Tops Q2 EPS by 18c, Revenues Miss; Offers FY18 EPS Outlook

Tutor Perini (NYSE: TPC) reported Q2 EPS of $0.49, $0.18 better than the analyst estimate of $0.31. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.21 billion.

“Earnings for the second quarter exceeded our expectations largely due to better-than-anticipated margins in our Civil and Building segments,” commented Ronald Tutor, Chairman and Chief Executive Officer. “We also achieved our fourth consecutive quarter of double-digit year-over-year backlog growth, reflecting our continued success in bidding and winning new projects. We believe that our results for the second half of 2018 will continue to improve due to expected increased activity on some of our larger projects.”

GUIDANCE:

Tutor Perini sees FY2018 EPS of $1.90-$2.05, versus the consensus of $1.90.

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

You May Also Be Interested In

• Nvidia pitches Vera CPU to Chinese clients with August delivery target
• Vera Bradley (VRA) Misses Q1 EPS by 26c ; Offers Guidance
• UBS Reiterates Neutral Rating on Lennar (LEN) Following Q2 Results