Tutor Perini Corp
F:PE2
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Tutor Perini Corp
F:PE2
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Tutor Perini Corp
Tutor Perini is a large construction contractor that builds complex public and private projects. It works on civil infrastructure such as bridges, highways, transit systems, tunnels, and water projects, and it also takes on large buildings like schools, hospitals, casinos, government facilities, and commercial towers. The company does not make a consumer product; it sells project delivery, construction management, and specialty trade work to clients that need major, hard-to-build jobs completed. Its main customers are government agencies, transportation authorities, developers, and other large organizations that award work through bids, negotiated contracts, or long-term project agreements. Tutor Perini makes money by being paid for construction services, often under contracts that set a fixed price, guaranteed maximum price, or cost-plus structure. It can also earn more when it performs specialty work through its own units, which helps it capture a bigger share of the project value. What sets Tutor Perini apart is its focus on difficult, high-risk projects where experience in heavy civil work and large-scale building matters a lot. In this industry, the company sits near the center of the value chain: it turns plans and engineering designs into finished infrastructure and buildings, coordinating labor, materials, subcontractors, and schedules. That makes it a contractor rather than a manufacturer, and its business depends on winning new projects and executing them well.
Tutor Perini is a large construction contractor that builds complex public and private projects. It works on civil infrastructure such as bridges, highways, transit systems, tunnels, and water projects, and it also takes on large buildings like schools, hospitals, casinos, government facilities, and commercial towers. The company does not make a consumer product; it sells project delivery, construction management, and specialty trade work to clients that need major, hard-to-build jobs completed.
Its main customers are government agencies, transportation authorities, developers, and other large organizations that award work through bids, negotiated contracts, or long-term project agreements. Tutor Perini makes money by being paid for construction services, often under contracts that set a fixed price, guaranteed maximum price, or cost-plus structure. It can also earn more when it performs specialty work through its own units, which helps it capture a bigger share of the project value.
What sets Tutor Perini apart is its focus on difficult, high-risk projects where experience in heavy civil work and large-scale building matters a lot. In this industry, the company sits near the center of the value chain: it turns plans and engineering designs into finished infrastructure and buildings, coordinating labor, materials, subcontractors, and schedules. That makes it a contractor rather than a manufacturer, and its business depends on winning new projects and executing them well.
Record cash flow: Tutor Perini posted record first-quarter operating cash flow of $147 million, up 542% year over year, driven by collections on newer and ongoing projects.
Revenue growth: First-quarter revenue rose 11% to $1.4 billion, the strongest first quarter since 2009, helped by larger, higher-margin projects ramping up.
Backlog remains strong: Backlog ended the quarter at $19.8 billion, and management said it expects more awards to keep backlog elevated even with a modest near-term decline.
Guidance affirmed: The company reaffirmed 2026 adjusted EPS guidance of $4.90 to $5.30 and said it still expects double-digit revenue growth in 2026.
Margins improving: Civil hit a record first-quarter operating income and a 12.6% margin, Building operating income rose 56%, and Specialty turned marginally profitable with further improvement expected.
Capital returns: Tutor Perini declared another $0.06 quarterly dividend and said it will keep buying back stock opportunistically after repurchasing about 278,000 shares for $20 million in Q1.
Legal overhang: The company took an immaterial first-quarter charge tied to the W/Element Hotel dispute and said it will appeal the approximately $175 million adverse ruling.
