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Jun 30, 2021
Tutor Perini Q2 2021 Earnings Report
Reported strong EPS growth driven by higher income from construction operations and backlog remains healthy.
Key Takeaways
Tutor Perini Corporation reported a decrease in revenue but an increase in income from construction operations and net income. The company's EPS increased significantly compared to the same quarter last year. Backlog decreased due to revenue outpacing new awards, but the company anticipates backlog growth to resume later in the year.
Income from construction operations increased 19% year-over-year, driven by higher-margin Civil segment projects.
Diluted earnings per share increased 65% compared to Q2 2020.
Backlog remains healthy at $7.5 billion, with 58% comprised of higher-margin Civil projects.
2021 EPS guidance of $1.80 to $2.20 is affirmed.
Revenue by Segment
Forward Guidance
The Company is affirming its EPS guidance and still expects EPS to be in the range of $1.80 to $2.20.
Positive Outlook
- Demand for construction services remains very strong.
- There is an ever-expanding list of prospective projects.
- The market is vibrant in terms of opportunities.
- There is potential for growth with federal infrastructure investment.
- Company expects to capture its share of large opportunities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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