The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Tutor Perini missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share increased significantly.
Gross margins expanded, operating margins shrank, net margins increased.
Tutor Perini reported revenue of $1.10 billion. The two analysts polled by S&P Capital IQ predicted a top line of $1.15 billion on the same basis. GAAP reported sales were 5.7% lower than the prior-year quarter's $1.17 billion.
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 $0.54. The two earnings estimates compiled by S&P Capital IQ averaged $0.48 per share. GAAP EPS of $0.88 for Q3 were 19% higher than the prior-year quarter's $0.74 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 10.5%, 20 basis points better than the prior-year quarter. Operating margin was 5.0%, 40 basis points worse than the prior-year quarter. Net margin was 3.9%, 90 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.19 billion. On the bottom line, the average EPS estimate is $0.77.
Next year's average estimate for revenue is $4.24 billion. The average EPS estimate is $1.58.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 592 members out of 613 rating the stock outperform, and 21 members rating it underperform. Among 152 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 149 give Tutor Perini a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Tutor Perini is buy, with an average price target of $21.00.
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