AI Earnings Predictions for Tutor Perini Corporation (TPC)

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News Release

Tutor Perini Reports Record Third Quarter 2026 Financial Results; Raises 2026 Adjusted EPS Guidance

•Record operating cash flow of $330.9 million and $665.1 million for the third quarter and first nine months of 2026, up 14% and 16% Y/Y, respectively

•Record Q3 2026 revenue of $1.7 billion, up 22% Y/Y

•Record Q3 2026 income from construction operations of $125.4 million, up 213% Y/Y reflecting continued strong operating performance and contributions from higher-margin projects

•Q3 2026 diluted earnings per share ("EPS") of $0.39, up 457% Y/Y

•Q3 2026 adjusted EPS of $1.83, up 59% Y/Y

•High-quality, near-record backlog of $20.4 billion

•Raising 2026 adjusted EPS guidance to $5.90 to $6.10 (up from $5.15 to $5.45)

•Tutor Perini anticipates continued strong revenue and adjusted EPS growth in 2027 due to clear visibility provided by long-duration backlog

LOS ANGELES – (BUSINESS WIRE) – November 4, 2026 – Tutor Perini Corporation (the "Company") (NYSE: TPC), a leading civil, building and specialty construction company, today reported strong financial results for the third quarter of 2026 (see attached tables).

Record Cash Flow, Revenue, and Operating Income

Tutor Perini generated $330.9 million and $665.1 million of cash from operating activities in the third quarter and first nine months of 2026, up 14% and 16%, respectively, compared to $289.1 million and $574.4 million for the same periods last year. Operating cash flow for the third quarter of 2026 was the highest result of any quarter in the Company's history, and the result for the first nine months of 2026 was the highest of any first-nine-month period ever. The record operating cash flow for both periods was driven by higher volume, strong execution, record earnings and collections on profitable projects. The Company expects continued strong operating cash flow for the remainder of 2026 and beyond, as current projects progress and new projects are awarded.

Revenue for the third quarter of 2026 was a record $1.7 billion, the highest revenue of any quarter ever, and up 22% compared to $1.4 billion for the same period in 2025. Revenue for the Civil, Building, and Specialty Contractors segments for the third quarter of 2026 was up 16%, 29%, and 26%, respectively, compared to the same quarter last year. The strong double-digit growth across all segments was primarily driven by increased activities on certain newer high-margin projects, including in the Northeast, California, Texas, and the Indo-Pacific region. During the first nine months of 2026, the Company delivered solid double-digit year-over-year growth across all three segments, with business momentum driven by increased project execution activities on various large projects, all of which have significant scope of work remaining.

Income from construction operations for the third quarter of 2026 was a record $125.4 million, up 213% compared to $40.1 million for the third quarter of 2025, the highest result of any quarter ever. The third quarter of 2026 was positively impacted by higher-margin contributions associated with the increased project execution activities discussed above, as well as a significant decrease of $39.5 million ($0.73 per diluted share, net of associated tax benefit) in share-based compensation expense in the third quarter of 2026 compared to the third quarter of 2025. The reduction in share-based compensation expense was due to the absence of certain liability-classified awards that vested at the end of 2025.

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Share-based compensation expense is expected to decline significantly in 2027, as most of the remaining liability-classified awards will vest by the end of 2026.

Net income attributable to the Company for the third quarter of 2026 was $20.7 million, or EPS of $0.39, up significantly compared to $3.6 million, or EPS of $0.07, reported for the third quarter of 2025. Adjusted net income attributable to the Company, which excludes the impact of share-based compensation expense, loss on extinguishment of debt, and a pension settlement charge, net of the associated tax benefits of these adjustments, for the third quarter of 2026 was $97.6 million, or $1.83 of Adjusted EPS, also up significantly compared to $61.9 million, or $1.15 of Adjusted EPS, reported for the third quarter of 2025.

The Company's strong results this year continue to demonstrate the impressive quality and magnitude of earnings embedded within the Company's backlog. With many of the projects in backlog still in their early phases, management believes the backlog provides strong visibility into future profitability and supports its latest increased 2026 guidance. (Please refer to the Non-GAAP Financial Measures section below for further information and a reconciliation of the Company's financial results reported under generally accepted accounting principles in the United States (“GAAP”) to the reported adjusted results.)

Highly Profi

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News Release

Tutor Perini Reports Strong Second Quarter 2026 Financial Results; Raises 2026 Adjusted EPS Guidance; Increases Quarterly Dividend 50%

•Record revenue of $1.6 billion, up 19% Y/Y

•Record income from construction operations of $117.7 million, up 54% Y/Y reflecting continued strong operating performance and growing contributions from higher-margin projects

•Diluted earnings per share ("EPS") of $1.23, up 224% compared to $0.38 in Q2 2025

•Adjusted EPS of $1.74, up 23% compared to $1.41 in Q2 2025

•Record first-half 2026 operating cash flow of $334.1 million, up 17% Y/Y

•Profitable, near-record backlog of $19.9 billion, up slightly compared to backlog at Q1 2026

•Raising 2026 Adjusted EPS guidance to $5.15 to $5.45 (up from $4.90 to $5.30)

•Board increases quarterly dividend 50% to $0.09 per share

•Tutor Perini remains confident that Adjusted EPS for 2027 will be substantially higher than the upper end of the Company's increased 2026 guidance due to solid earnings visibility provided by current backlog

LOS ANGELES – (BUSINESS WIRE) – August 5, 2026 – Tutor Perini Corporation (the "Company") (NYSE: TPC), a leading civil, building and specialty construction company, today reported strong financial results for the second quarter of 2026 (see attached tables).

Revenue for the second quarter of 2026 was a record $1.6 billion, the highest revenue of any quarter ever, and up 19% compared to $1.4 billion for the same period in 2025. Revenue for the Civil, Building, and Specialty Contractors segments for the second quarter of 2026 was up 11%, 21%, and 47%, respectively, compared to the same quarter last year. The solid growth across all segments was primarily driven by increased activities on certain newer large high-margin projects in New York, California, Hawaii and the Indo-Pacific region. Over the first six months of 2026, the Company has delivered double-digit year-over-year growth across all three segments, with growing and sustainable business momentum driven by increased project execution activities on various large projects, all of which have significant scope of work remaining.

Income from construction operations for the second quarter of 2026 was a record $117.7 million, up 54% compared to $76.4 million for the second quarter of 2025, and the highest result of any quarter ever. The second quarter of 2026 was positively impacted by higher-margin contributions associated with the increased project execution activities discussed above, as well as a significant decrease of $27.5 million ($0.53 per diluted share, net of associated tax benefit) in share-based compensation expense in the second quarter of 2026 compared to the second quarter of 2025. Share-based compensation expense is expected to decrease over the remainder of 2026 as compared to 2025 and decline much more significantly in 2027, as some of the liability-classified awards have recently vested and most of the remaining awards will vest by the end of 2026.

Net income attributable to the Company for the second quarter of 2026 was $65.7 million, or EPS of $1.23, up significantly compared to $20.0 million, or EPS of $0.38, reported for the second quarter of 2025. Adjusted net income attributable to the Company, which excludes the impact of share-based compensation expense, net of associated tax benefit, for the second quarter of 2026 was $93.0 million, or $1.74 of Adjusted EPS, also up significantly compared to $75.1 million, or $1.41 of Adjusted EPS, reported for the second quarter of 2025. The Company's strong adjusted results demonstrate the substantial earnings potential embedded within the Company's backlog. With many of these projects still in their early phases or having recently commenced, management believes the backlog provides strong visibility into future profitability and supports its increased 2026 guidance. (Please refer to the Non-GAAP Financial Measures section

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below for further information and a reconciliation of the Company's financial results reported under generally accepted accounting principles in the United States (“GAAP”) to the reported adjusted results.)

Record First-Half 2026 Operating Cash Flow

The Company generated a record $334.1 million of cash from operating activities in the first half of 2026, up 17% compared to $285.3 million for the same period last year. The record operating cash flow was driven by higher volume and strong execution and collections on profitable projects. The Company expects continued strong operating cash flow in the second half of 2026 and beyond.

Profitable, Near-Record Backlog

The Company booked approximately $1.7 billion of new awards and contract adjustments in the second quarter of 2026, which resulted in backlog of $19.9 billion as of June 30, 2026, up slightly compared to backlog as of March 31, 2026.

The largest additions to backlog in the second quarter of 2026 included the following:

•$652 million for a

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