TUTOR PERINI CORP

Tutor Perini reported strong second-quarter 2026 results with revenue increasing to $1.64 billion and diluted EPS rising to $1.23. Net income attributable to the company significantly improved to $65.7 million. Post-quarter, the company successfully refinanced its debt by issuing $400 million in new senior notes at a lower interest rate and extending its revolving credit facility to $350 million, maturing in 2031.

Tutor Perini Corporation reported strong second-quarter 2026 financial results, achieving record revenue of $1.6 billion, a 19% increase year-over-year, and record income from construction operations of $117.7 million, up 54%. Diluted EPS surged 224% to $1.23, while Adjusted EPS rose 23% to $1.74. The company also generated a record $334.1 million in operating cash flow for the first half of 2026 and maintained a near-record backlog of $19.9 billion. Based on these results, Tutor Perini raised its 2026 Adjusted EPS guidance to $5.15-$5.45 and increased its quarterly dividend by 50% to $0.09 per share.

Tutor Perini Corporation completed an offering of $400 million in 6.625% Senior Notes due 2033. The company will use the net proceeds, along with cash on hand, to redeem $400 million aggregate principal amount of its existing 11.875% Senior Notes due 2029, effectively refinancing higher-interest debt. Concurrently, the company also entered into an Amended and Restated Credit Agreement.

Tutor Perini Corporation announced a proposed private offering of $400 million in senior notes due 2033. The company plans to use the proceeds, along with cash on hand, to redeem its existing $400 million 11.875% Senior Notes due April 30, 2029. Concurrently, Tutor Perini expects to amend and restate its credit agreement, extending the maturity of its Revolving Credit Facility and increasing its commitments from $170.0 million to $350.0 million.

Tutor Perini Corporation's Compensation Committee approved a new Deferred Compensation Plan for eligible employees, including named executive officers, allowing them to defer cash compensation. Additionally, at the Annual Meeting, shareholders elected 10 director nominees to serve until the 2027 Annual Meeting. Shareholders also ratified the appointment of Deloitte & Touche LLP as independent auditors for 2026 and approved the compensation of named executive officers on an advisory basis.

Tutor Perini Corporation reported an 11.5% increase in total revenue to $1.39 billion for the first quarter of 2026, driven by strong performance in its Civil and Specialty Contractors segments. However, net income attributable to the company decreased by 8.2% to $25.7 million, resulting in diluted EPS of $0.48, down from $0.53 in the prior year. A significant positive was the substantial increase in net cash provided by operating activities, which rose to $146.9 million. The company also engaged in capital allocation activities, including a $20.0 million share repurchase and a $3.3 million dividend payment.

Tutor Perini Corporation reported strong first quarter 2026 results, with Adjusted EPS of $1.03, a 58% increase year-over-year, and revenue of $1.4 billion, up 11%. The company achieved a record Q1 operating cash flow of $146.9 million and maintained a profitable backlog of $19.8 billion. Tutor Perini affirmed its 2026 Adjusted EPS guidance and plans to refinance outstanding debt while continuing opportunistic share buybacks.