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Dec 31, 2024
Tutor Perini Q4 2024 Earnings Report
Estimated Revenue:$1.04B
+6.8% YoY
Estimated EPS:$0.294
+320.0% YoY
Key Takeaways
Tutor Perini reported a net loss for Q4 2024, but highlighted record operating cash flow and backlog growth. The company reduced its debt significantly and anticipates double-digit revenue growth and improved profitability in 2025.
Generated very strong operating cash flow of $329.6 million in Q4 2024.
Reduced total debt by $477 million, or 52%, from the end of 2023 through February 27, 2025.
Achieved a record backlog of $18.7 billion as of December 31, 2024, up 84% Y/Y.
Anticipates double-digit revenue growth and EPS range of $1.50 to $1.90 in 2025.
Forward Guidance
The Company anticipates double-digit revenue growth in 2025 and a return to solid earnings, with substantially higher earnings expected in 2026 and 2027. For 2025, the Company expects EPS of $1.50 to $1.90.
Positive Outlook
- Record backlog provides excellent visibility and confidence for significant revenue growth
- Expects improved profitability over the next several years.
- Newer large projects should be in the construction phase by 2026 and 2027
- Strong operating cash generation in 2025 and beyond is expected
- Customer demand remains strong with substantial funding in place at the state and local levels, boosted by the $1.2 trillion Bipartisan Infrastructure Law at the federal level.
Challenges Ahead
- Earnings in 2025 are expected to be weighted more heavily in the second half of the year
- Anticipated timing of more meaningful revenue contributions from newer projects
- Typical business seasonality for weather
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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