secwatch.observer — SEC 8-K summary
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Issuer:     TUTOR PERINI CORP (TPC)
CIK:        0000077543
Form:       8-K
Filed at:   2023-11-09T23:59:59+00:00
Accession:  0000077543-23-000175
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tutor Perini Q3 net loss widens to $36.9M; cash flow surges, backlog up 28% to $10.6B
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- Net loss of $36.9M ($0.71 diluted loss per share) vs $32.5M loss YoY; loss from construction ops $12.6M.
- Revenue flat at $1.1B; Civil/Building growth offset by Specialty Contractors decline.
- Operating cash flow $103.2M in Q3, up 42% from $72.6M YoY; YTD $180.8M, both near-record since 2008 merger.
- Backlog $10.6B, up 28% YoY; key new awards include $115M healthcare project, $95M and $81M mass-transit projects in CA.
- No 2023 EPS guidance; expects to provide initial 2024 EPS guidance with Q4 results; accumulating cash for timely debt refinancing (>$70M set aside).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/77543/000007754323000175/0000077543-23-000175-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/77543/000007754323000175/tpc-20231109.htm
  HTML page:      https://secwatch.observer/filing/0000077543-23-000175

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