Tutor Perini reports record operating cash flow and backlog, but net loss in 2024

TUTOR PERINI CORP

2024-FY EPS reported -$3.13 revenue$4,326,922,000

Record operating cash flow of $503.5M in 2024, up 63% Y/Y, enabled $477M debt reduction (52%) since end of 2023
Record backlog of $18.7B as of Dec 31, 2024, up 84% Y/Y, driven by $12.8B in new awards including $3.76B Manhattan Jail
Revenue grew 12% to $4.3B in 2024, but diluted loss per share was $3.13 due to charges from resolving legacy disputes
Provides 2025 EPS guidance of $1.50-$1.90 and preliminary estimates for 2026/2027 earnings more than double that level
Notable new awards include $1.66B City Center Guideway in Hawaii, $1.4B healthcare campus in California, and $1.13B Newark AirTrain

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