secwatch.observer — SEC 8-K summary
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Issuer:     TUTOR PERINI CORP (TPC)
CIK:        0000077543
Form:       8-K
Filed at:   2024-11-06T23:59:59+00:00
Accession:  0000077543-24-000233
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 $100.9M ($1.92/share) on $152M charges; record backlog $14B
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- Revenue $1.1B, up slightly YoY; net loss $100.9M ($1.92 diluted EPS) vs loss $36.9M ($0.71) in Q3 2023.
- Record backlog $14.0B (+35% vs Q2 2024) driven by $1.66B Hawaii transit, $1.1B NY tunnel, $1B+ Calif. healthcare.
- Year-to-date operating cash flow $174M; expects record 2024 OCF $425M-$575M and plans to prepay $100M-$150M Term Loan B by Dec 31.
- Dispute resolutions drove $152M net charges but expected to generate ~$180M cash inflow; company returns to profitability in 2025.
- Withdrew 2024 guidance due to charges; initial 2025 guidance expected Feb 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/77543/000007754324000233/0000077543-24-000233-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/77543/000007754324000233/tpc-20241106.htm
  HTML page:      https://secwatch.observer/filing/0000077543-24-000233

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