General contracting company Tutor Perini (NYSE: TPC) will be reporting earnings this Wednesday after market hours. Here’s what to look for.
Tutor Perini missed analysts’ revenue expectations last quarter, reporting revenues of $1.39 billion, up 11.5% year on year. It was a satisfactory quarter for the company, with full-year EPS guidance exceeding analysts’ expectations.
Is Tutor Perini a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Tutor Perini’s revenue to grow 14.1% year on year, slowing from the 21.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Tutor Perini has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Tutor Perini’s peers in the construction and maintenance services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. MYR Group delivered year-on-year revenue growth of 20.1%, beating analysts’ expectations by 8.3%, and Comfort Systems reported revenues up 50.3%, topping estimates by 9.9%. MYR Group traded up 2.7% following the results while Comfort Systems was down 5.3%.
Read our full analysis of MYR Group’s results here and Comfort Systems’s results here.
Over the past year, investors have repeatedly shifted their focus from one macro narrative to another (AI disruption and AI capex spending to geopolitics, interest rates, and the broader health of the economy). While some of the construction and maintenance services stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2% on average over the last month. Tutor Perini is up 6.3% during the same time and is heading into earnings with an average analyst price target of $113.25 (compared to the current share price of $84.98).
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