Tutor Perini reports Q2 net loss of $63M, withdraws 2022 guidance; backlog up 14% to $8.5B

TUTOR PERINI CORP

2022-Q2 EPS reported -$1.65 revenue$1,813,181,000

Revenue $0.9B (down from $1.2B YoY); net loss $63M ($1.23/sh) vs net income $31.2M ($0.61/sh) in Q2 2021.
Operating cash flow $58M in Q2 2022; record $178.7M for first six months, largest since 2008 merger.
Backlog $8.5B, up 14% YoY; new awards include $293M CA mass-transit and $95M educational facility.
Withdrawing 2022 guidance due to pending settlement uncertainty; expects net loss for full year.
Cash generation improved; anticipate continued strong operating cash for remainder of 2022.

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