Tutor Perini Raises 2026 Adjusted EPS Guidance to $5.90–$6.10
The company raised its prior forecast of $5.15–$5.45 per share. Q3 included record revenue and operating cash flow, $2.2 billion in new awards and contract adjustments, and a $20.4 billion backlog.
Tutor Perini Corporation has increased its 2026 adjusted earnings forecast to a range of $5.90 to $6.10 per share, up from its previous guidance of $5.15 to $5.45. CEO Gary Smalley attributed the improved outlook to strong execution of the company's backlog and the successful mitigation of project risks. During the third quarter, the company achieved record revenue and operating cash flow, while also booking $2.2 billion in new awards and contract adjustments. Additionally, the company completed a refinancing of its senior notes, reducing the coupon rate to 6.625% from 11.875%, which is expected to generate $21 million in annual interest savings.
Tutor Perini ended the quarter with a near-record backlog of $20.4 billion and anticipates continued double-digit revenue and earnings growth in 2027.