Tutor Perini's stock plummeted 13.89% during pre-market trading on Thursday, extending losses from the previous session. The sharp decline follows the release of the company's first-quarter 2026 financial results.
While Tutor Perini reported adjusted earnings per share of $1.03, beating analyst expectations, revenue for the quarter came in at $1.39 billion, falling short of the $1.44 billion consensus estimate. The company's GAAP earnings per share also declined 9% to $0.48 compared to the prior year period.
Investors appeared to focus on the revenue miss and the 9% decrease in income from construction operations, which management noted was negatively affected by increased share-based compensation expenses. The company did affirm its full-year adjusted EPS guidance of $4.90 to $5.30, but the market reaction suggests concerns about the top-line performance and GAAP profitability metrics.
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