Tutor Perini (NYSE:TPC) Releases Quarterly Earnings Results, Beats Expectations By $1.07 EPS

Tutor Perini (NYSE:TPC) posted its quarterly earnings results on Wednesday. The construction company reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $1.07, FiscalAI reports. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.57 billion. Tutor Perini had a net margin of 2.08% and a return on equity of 21.26%. The business’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 earnings per share. Tutor Perini updated its FY 2026 guidance to 5.150-5.450 EPS.

Here are the key takeaways from Tutor Perini’s conference call:

• Record second-quarter performance: Revenue rose 19% year over year to $1.6 billion, operating income increased 54% to $118 million, and adjusted EPS climbed 23% to $1.74. Operating margins improved across all segments, including Civil at 15.3%, Building at 5.6%, and Specialty Contractors at 2.2%.
• 2026 guidance was raised: Management increased adjusted EPS guidance to $5.15–$5.45 from $4.90–$5.30, citing strong project execution, sustained demand, and expectations for higher earnings in 2027.
• Cash generation and liquidity strengthened: First-half operating cash flow reached a record $334 million, while cash exceeded total debt by $542 million. A refinancing reduced the senior-notes coupon to 6.625%, extends maturities, and is expected to save approximately $21 million in annual cash interest.
• Backlog and bidding opportunities remain substantial: Backlog ended the quarter near a record at $19.9 billion, supported by $1.7 billion of awards, while management cited a potential project pipeline exceeding $200 billion over the next three to four years, particularly in the Indo-Pacific region and major U.S. infrastructure markets.
• Shareholder returns increased: The quarterly dividend was raised 50% to $0.09 per share, and the company repurchased approximately 137,000 shares for $10 million during the quarter, with $170 million remaining under its buyback authorization.

Tutor Perini Price Performance

NYSE TPC traded up $1.68 on Friday, hitting $97.45. 448,130 shares of the company were exchanged, compared to its average volume of 655,609. Tutor Perini has a 1-year low of $53.83 and a 1-year high of $102.30. The firm has a 50 day moving average of $78.99 and a two-hundred day moving average of $79.26. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. The company has a market cap of $5.13 billion, a P/E ratio of 42.11 and a beta of 2.05.

Tutor Perini Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Wednesday, August 19th will be issued a $0.09 dividend. This is a positive change from Tutor Perini’s previous quarterly dividend of $0.06. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 19th. Tutor Perini’s dividend payout ratio (DPR) is presently 16.33%.

Insiders Place Their Bets

In other Tutor Perini news, Director Robert C. Lieber sold 17,500 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $75.36, for a total value of $1,318,800.00. Following the completion of the transaction, the director directly owned 149,410 shares of the company’s stock, valued at approximately $11,259,537.60. The trade was a 10.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Gendell Jeffrey L lifted its stake in shares of Tutor Perini by 95.0% in the 4th quarter. Gendell Jeffrey L now owns 889,915 shares of the construction company’s stock valued at $59,642,000 after purchasing an additional 433,559 shares during the period. Millennium Management LLC increased its stake in Tutor Perini by 165.2% in the first quarter. Millennium Management LLC now owns 383,530 shares of the construction company’s stock valued at $8,890,000 after purchasing an additional 238,933 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Tutor Perini by 397.2% in the second quarter. Cubist Systematic Strategies LLC now owns 292,077 shares of the construction company’s stock valued at $13,663,000 after purchasing an additional 233,335 shares in the last quarter. Nearwater Capital Markets Ltd bought a new position in shares of Tutor Perini during the fourth quarter worth $15,080,000. Finally, Marshall Wace LLP grew its holdings in shares of Tutor Perini by 243.1% in the 3rd quarter. Marshall Wace LLP now owns 287,025 shares of the construction company’s stock valued at $18,826,000 after buying an additional 203,378 shares during the period. Institutional investors own 65.01% of the company’s stock.

Analyst Upgrades and Downgrades

TPC has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. UBS Group upped their target price on shares of Tutor Perini from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday. Zacks Research lowered shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tutor Perini in a report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $105.00.

Tutor Perini Company Profile

Tutor Perini Corporation is a leading U.S. construction company that provides diversified general contracting, construction management and design-build services to private clients and public agencies. The company operates through three principal market segments—Civil, Building and Specialty Contractors—serving a broad range of infrastructure and vertical construction needs.

In its Civil segment, Tutor Perini delivers heavy civil infrastructure projects including highways and bridges, water management, dams, tunnels and rail systems.