Tutor Perini Q3 net loss $32.5M vs prior year profit; revenue down to $1.1B

TUTOR PERINI CORP

2022-Q3 EPS reported -$2.28 revenue$2,884,107,000

Net loss $32.5M ($0.63 loss per diluted share) vs net income $15.4M ($0.30 EPS) in Q3 2021.
Revenue $1.1B, down from $1.2B YoY; loss from construction operations $6.9M vs income $52.1M.
Operating cash flow $72.6M in Q3 vs usage $21.3M; YTD record $251.3M.
Backlog $8.4B; two pending contract awards could add >$4.5B.
No 2022 guidance; expects net loss for full year; ~$100M excess cash paydown on Term Loan B expected by April 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TUTOR PERINI CORP reported quarter ended September 30, 2022 results: revenue $1.1 billion, net income $32.5 million, or a $0.63 loss per diluted share, EPS $0.63 loss per diluted share.

Period: quarter ended September 30, 2022
Revenue: $1.1 billion
Net income: $32.5 million, or a $0.63 loss per diluted share
EPS: $0.63 loss per diluted share
Result: reported results

Exact text from the filing

Perini Corporation (the “Company”) (NYSE: TPC), a leading civil, building and specialty construction company, reported results today for the third quarter of 2022. Revenue was $1.1 billion compared to $1.2 billion for the third quarter of last year. The decrease was primarily due to reduced project execution activities on various projects in all three segments.

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Source: SEC EDGAR

accession 0000077543-22-000074

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