secwatch.observer — SEC 8-K summary
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Issuer:     TUTOR PERINI CORP (TPC)
CIK:        0000077543
Form:       8-K
Filed at:   2025-02-27T23:59:59+00:00
Accession:  0000077543-25-000023
Event type: earnings
Sentiment:  neutral
Materiality: 0.90
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/77543/000007754325000023/0000077543-25-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/77543/000007754325000023/tpc-20250227.htm
  HTML page:      https://secwatch.observer/filing/0000077543-25-000023

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