General contracting company Tutor Perini (NYSE:TPC) will be reporting results tomorrow afternoon. Here’s what to expect.
Tutor Perini missed analysts’ revenue expectations by 7.2% last quarter, reporting revenues of $1.08 billion, up 2.1% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EPS estimates.
Is Tutor Perini a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Tutor Perini’s revenue to grow 5.4% year on year to $1.08 billion, slowing from the 12.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.10 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Tutor Perini has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Tutor Perini’s peers in the construction and maintenance services segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Construction Partners delivered year-on-year revenue growth of 41.6%, beating analysts’ expectations by 9.7%, and Comfort Systems reported revenues up 37.6%, topping estimates by 5.5%. Construction Partners traded down 3.6% following the results while Comfort Systems was also down 4.8%.
Read our full analysis of Construction Partners’s results here and Comfort Systems’s results here.
Inflation has progressed towards the Fed’s 2% goal as of late, leading to strong stock market performance. Recent rate cuts and the 2024 Presidential election's conclusion added further sparks to the market, and while some of the construction and maintenance services stocks have shown solid performance, the group has generally underperformed, with share prices down 5.6% on average over the last month. Tutor Perini is down 12.4% during the same time and is heading into earnings with an average analyst price target of $39.33 (compared to the current share price of $21.11).
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