Tutor Perini (TPC) Reports Q1 Loss of $0.24, Miss on Revenues

Tutor Perini (NYSE: TPC) reported Q1 EPS of ($0.24), versus $0.26 reported last year. Revenue for the quarter came in at $1.03 billion versus the consensus estimate of $1.06 billion.

“Our earnings for the first quarter of 2018 were below expectations, largely because of the unexpected arbitration decision. However, we anticipate that stronger performance later this year should offset the weakness experienced this quarter,” remarked Ronald Tutor, Chairman and Chief Executive Officer. “Our record backlog and $1 billion of pending civil awards reflect our continued success in capturing significant project opportunities. We believe that we are well positioned to win even more, sizable civil awards as long-term funding is released, which should result in continued backlog growth.”

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

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