Tutor Perini Corporation reported a decrease in revenue for the fourth quarter of 2021, driven by reduced project execution activities in the Building segment. Net income attributable to the company also decreased compared to the same period in 2020. However, the Civil segment showed strong operating performance, with the highest annual operating margin since 2014.
Revenue for the fourth quarter of 2021 was $1.0 billion, a 23% decrease compared to the same period last year.
Net income attributable to Tutor Perini Corporation for the fourth quarter of 2021 was $29.3 million, or $0.57 per diluted share.
Civil segment achieved its highest annual operating margin since 2014.
Backlog at December 31, 2021 was $8.2 billion, essentially level compared to the end of 2020.
The Company anticipates continued solid revenue contributions from its existing backlog of large Civil segment infrastructure projects on the West Coast and other projects in Guam and is establishing its initial EPS guidance for 2022 at a range of $1.15 to $1.60.
Visualization of income flow from segment revenue to net income
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