Tutor Perini's stock experienced a significant decline of 10.31% in post-market trading on Wednesday, following the release of its first-quarter 2026 financial results.
The sharp drop appears driven by a revenue miss against analyst expectations, despite the company reporting a year-over-year increase. Revenue for the quarter rose to $1.39 billion, which was below the consensus estimate of $1.44 billion. Furthermore, GAAP earnings per share fell 9% to $0.48 compared to the prior year. Income from construction operations also decreased by 9% to $59.2 million, which management noted was negatively affected by a $23.5 million increase in share-based compensation expense.
While the company reported a strong beat on adjusted earnings per share of $1.03, up from $0.65 a year earlier and above the FactSet estimate of $0.95, and affirmed its full-year 2026 adjusted EPS guidance of $4.90 to $5.30, investors focused on the top-line shortfall and the decline in GAAP profitability.
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