| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 1.4K | 3.0% | 30.7% |
| Total Income | 1.4K | 3.0% | 30.7% |
| Expenditure | 1.4K | 6.0% | 15.6% |
| PBT | 34.00 | 50.8% | 127.5% |
| Net Profit | 3.63 | 81.8% | 103.6% |
| OPM | 2.83% | 2.73pp | 12.70pp |
| NPM | 0.26% | 1.20pp | 9.57pp |
| EPS | 0.07 | 81.6% | 103.7% |
Tutor Perini Reports Strong Q3 2025 Results; Raises Adjusted EPS Guidance
04 May 2026 · 4 May, 7:57 am
Summary
Tutor Perini Corporation reported strong third-quarter results for 2025, with revenue up 31% year-over-year to $1.42 billion. Income from construction operations improved significantly, reaching $40.1 million compared to a loss in the same quarter last year. The company's backlog grew to a record $21.6 billion, reflecting strong new awards activity. Management is raising its 2025 Adjusted EPS guidance for the third consecutive quarter, now expecting it to be in the range of $4.00 to $4.20, and anticipates significantly higher revenue and earnings in 2026 and 2027.
Key Highlights
- 1
Tutor Perini's Q3 2025 revenue reached $1.42 billion, a 31% increase year-over-year.
- 2
Income from construction operations significantly improved to $40.1 million in Q3 2025, compared to a loss of $106.8 million in Q3 2024.
- 3
Diluted earnings per share (EPS) increased substantially to $0.07 in Q3 2025, compared to a diluted loss per share of $1.92 in Q3 2024.
- 4
Adjusted EPS rose significantly to $1.15 in Q3 2025, compared to an adjusted diluted loss per share of $1.61 in Q3 2024.
- 5
The company achieved a record Q3 2025 operating cash flow of $289.1 million and a record operating cash flow of $574.4 million for the first nine months of 2025.
- 6
Backlog reached a record $21.6 billion at the end of Q3 2025, up 54% year-over-year, driven by $2.0 billion of new awards and contract adjustments during the quarter.
- 7
Tutor Perini is raising its 2025 Adjusted EPS guidance for the third consecutive quarter, now expecting it to be in the range of $4.00 to $4.20.
Management Comments
Gary Smalley
"Tutor Perini's third-quarter results were outstanding across all key metrics and demonstrate our continued business momentum and success in delivering solid operating performance, with healthy profit margins in the Civil and Building segments and a return to profitability in the Specialty Contractors segment." "We are benefiting from favorable macroeconomic tailwinds, which are driving strong market demand for construction services across all our segments. We remain focused on capitalizing on a range of attractive bidding opportunities, which resulted in Tutor Perini securing $2 billion of new awards this quarter, increasing our backlog to a new record of $21.6 billion. We continue to expect the long-duration and higher-margin nature of projects in backlog to translate into significantly higher revenue and earnings over the next several years." "Our record operating cash flow for the first nine months of 2025 is already well in excess of last year's full-year record cash flow, and we expect to continue generating strong cash flow for the rest of this year and beyond. Furthermore, our earnings to date are considerably higher than expected, enabling us to confidently raise our full-year earnings guidance for the third consecutive quarter."
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