Tutor Perini (TPC) Misses Q2 EPS by 8c; Affirms Outlook

Tutor Perini (NYSE: TPC) reported Q2 EPS of $0.43, $0.08 worse than the analyst estimate of $0.51. Revenue for the quarter came in at $1.31 billion versus the consensus estimate of $1.4 billion.

Backlog as of June 30, 2016 was $7.3 billion compared to $7.5 billion as of December 31, 2015. New awards and adjustments to contracts in process during the second quarter and first half of 2016 were $0.4 billion and $2.2 billion, respectively, compared to $1.3 billion and $2.3 billion for the same periods last year. The Civil and Building segments were the major contributors to new award activity in the first half of 2016.

GUIDANCE:

Tutor Perini affirms FY2016 EPS of $1.90-$2.20, versus the consensus of $2.08. Tutor Perini sees FY2016 revenue of $5.1-5.6 billion, versus the consensus of $5.34 billion.

For earnings history and earnings-related data on Tutor Perini (TPC) click here.

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