secwatch.observer — SEC 8-K summary
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Issuer:     TUTOR PERINI CORP (TPC)
CIK:        0000077543
Form:       8-K
Filed at:   2024-02-28T23:59:59+00:00
Accession:  0000077543-24-000013
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tutor Perini reports 2023 net loss $171.2M but record operating cash flow $308.5M; backlog up 28% to $10.2B
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- Full-year revenue $3.9B, flat YoY; net loss $171.2M ($3.30 diluted loss) vs $210.0M loss in 2022.
- Record operating cash flow $308.5M in 2023, up 49% from prior record $207.0M in 2022.
- Backlog grew 28% to $10.2B; largest award: $2.95B Brooklyn Jail project in New York.
- Initial 2024 EPS guidance $0.85-$1.10; anticipates double-digit revenue growth and return to positive earnings.
- Term Loan B paid down $91M on Feb 23, 2024; Senior Notes refinancing expected by end of April 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/77543/000007754324000013/0000077543-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/77543/000007754324000013/tpc-20240228.htm
  HTML page:      https://secwatch.observer/filing/0000077543-24-000013

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