Tutor Perini Corporation (TPC) experienced a significant pre-market surge of 8.87% on Friday, driven by the company's impressive fourth-quarter 2024 earnings report and positive outlook for 2025.
The construction firm reported a record backlog of $18.7 billion, representing an 84% year-over-year increase, fueling investor optimism. Additionally, Tutor Perini generated a record operating cash flow of $504 million in 2024, up 63% from the previous year, and significantly reduced its total debt by 52% since the end of 2023, enhancing its financial flexibility.
While the company reported a net loss of $164 million for 2024, the outlook for 2025 is promising, with projected earnings per share (EPS) expected to range between $1.50 and $1.90, alongside double-digit revenue growth. The company's backlog and improved financial position position it well for a return to profitability and continued growth.
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