Tutor Perini (TPC) Q3 Earnings: What To Expect

StockStory
2024-11-05
Tutor Perini (TPC) Q3 Earnings: What To Expect

General contracting company Tutor Perini (NYSE:TPC) will be reporting earnings tomorrow after market close. Here’s what you need to know.

Tutor Perini missed analysts’ revenue expectations by 2% last quarter, reporting revenues of $1.13 billion, up 10.3% year on year. It was a disappointing quarter for the company, with a miss of analysts’ EBITDA and earnings estimates.

Is Tutor Perini a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Tutor Perini’s revenue to grow 10% year on year to $1.17 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.33 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Tutor Perini has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Tutor Perini’s peers in the construction and maintenance services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Primoris delivered year-on-year revenue growth of 7.8%, beating analysts’ expectations by 3.5%, and Orion reported revenues up 34.5%, falling short of estimates by 3.6%. Orion’s stock price was unchanged following the results.

Read our full analysis of Primoris’s results here and Orion’s results here.

Investors in the construction and maintenance services segment have had steady hands going into earnings, with share prices flat over the last month. Tutor Perini is down 2.7% during the same time and is heading into earnings with an average analyst price target of $32.50 (compared to the current share price of $26.14).

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