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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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 of Motley 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.