By Katherine Hamilton
Tutor Perini shares climbed after it said it expects earnings to keep growing and be unscathed by tariffs and federal spending scrutiny.
The stock rose 24% to $27.11 and has more than doubled over the past year.
The civil infrastructure builder expects double-digit revenue growth in 2025. It guided for $1.50 to $1.90 earnings per share, compared with the $1.61 forecast by analysts, according to FactSet.
It anticipates higher earnings in 2026 and 2027, as several new projects should be in the construction phase by those times. Earnings per share are set to be more than double the company's guidance for 2025, it said.
Tutor Perini said it doesn't expect to be affected substantially by tariffs or federal budget scrutiny, and is still experiencing strong demand.
"Our record backlog and ample future bidding opportunities should serve as the catalyst," Chief Executive Gary Smalley said of the company's outlook.
Tutor Perini posted a fourth-quarter loss of $79.4 million, or $1.51 a share, for the quarter ended Dec. 31, compared with a loss of $47.5 million, or 91 cents, the prior year.
Revenue increased 4.5% to $1.07 billion, below analysts' expectations of $1.08 billion, according to FactSet.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
February 28, 2025 12:06 ET (17:06 GMT)
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