Tutor Perini Q2 revenue up 10% to $1.1B, net income turns positive; backlog $10.4B

TUTOR PERINI CORP

2024-Q2 EPS reported $0.31 revenue$2,176,457,000

Revenue $1.1B (+10% YoY); net income $0.8M ($0.02 EPS) vs net loss $37.5M ($0.72 loss) in Q2 2023.
Operating cash flow $53.1M in Q2; $151.4M in H1 2024 (second-highest H1 since 2008).
Backlog $10.4B (up from $10.0B at Q1 2024); new awards include $1.3B bridge in CT, $216M airport project in FL.
Affirms 2024 EPS guidance range of $0.85 to $1.10.
Results impacted by $14.3M higher share-based comp (stock price rise) and $12.4M unfavorable settlement.

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