Tutor Perini Goes Negative
Tutor Perini (NYS: TPC) reported earnings on May 4. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Tutor Perini whiffed on both revenue and estimates for earnings per share.
Compared to the prior-year quarter, revenue grew significantly, while GAAP earnings per share dropped to a loss.
Margins contracted across the board.
Tutor Perini chalked up revenue of $912.5 million. The two analysts polled by S&P Capital IQ foresaw sales of $1.14 billion on the same basis. GAAP-reported sales were 48% higher than the prior-year quarter's $615.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.08. The three earnings estimates compiled by S&P Capital IQ predicted $0.42 per share. GAAP EPS were -$0.03 for Q1 against $0.14 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 9.4%, 80 basis points worse than the prior-year quarter. Operating margin was 1.9%, 110 basis points worse than the prior-year quarter. Net margin was -0.1%, 120 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.02 billion. On the bottom line, the average EPS estimate is $0.55.
Next year's average estimate for revenue is $4.41 billion. The average EPS estimate is $1.94.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 588 members rating the stock outperform and 22 members rating it underperform. Among 154 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 150 give Tutor Perini a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Tutor Perini is outperform, with an average price target of $24.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.