secwatch.observer — SEC 8-K summary
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Issuer:     TUTOR PERINI CORP (TPC)
CIK:        0000077543
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0000077543-23-000074
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tutor Perini Q1 net loss widens to $49.2M; withdraws FY 2023 EPS guidance
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- Revenue $776.3M vs $952.2M YoY; net loss $0.95/share vs $0.42 loss/share YoY.
- Non-cash $83.6M charge from adverse bankruptcy ruling on completed NYC mixed-use project.
- Backlog $7.9B; Q2 already awarded >$3.2B new work including $2.95B Brooklyn Jail.
- Positive operating cash flow $21.3M vs $120.7M in Q1 2022 (record prior year).
- Withdraws 2023 EPS guidance; expects to provide updated guidance with Q2 results.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/77543/000007754323000074/0000077543-23-000074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/77543/000007754323000074/tpc-20230504.htm
  HTML page:      https://secwatch.observer/filing/0000077543-23-000074

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer