Tutor Perini Shares Down Almost 19% Following Earnings Miss, Suspended Guidance [MarketWatch]
Tutor Perini Corporation (TPC)
Last tutor perini corporation earnings: 2/26 04:15 pm
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investors.tutorperini.com/investor-overview/default.aspx
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Source: MarketWatch
Reduced project execution cut into the company's top and bottom lines, and continued effects and delays related to Covid-19 had a significant negative effect on performance, Tutor Perini said. The Sylmar, Calif.-based construction company withdrew its guidance for the current fiscal year and said it expects to issue new projections during its third-quarter earnings announcement. The company said it expects a net loss for fiscal year 2022. Tutor Perini posted a second-quarter loss of $63 million, or $1.23 a share, compared with a profit of $31.2 million, or 61 cents a share, in the previous year. Revenue fell to $861 million, compared with $1.2 billion in the year-ago quarter. Analysts polled by FactSet forecast $1.1 billion. Shares of the company closed Thursday at $9.04 before falling to a new 52-week low of $7.25 on Friday. The company's share price is down about 36% so far this year and about 45% in the last 52 weeks. Write to Connor Hart at connor.hart@wsj.com
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TPC
Earnings
- 4/25/24 - Beat
TPC
Analyst Actions
- 3/12/24 - UBS
TPC
Sec Filings
- 4/25/24 - Form 10-Q
- 4/25/24 - Form 8-K
- 4/23/24 - Form 8-K
- TPC's page on the SEC website