Tutor Perini Corporation Earnings Recaps
Q3 2025
Nov 6, 2025
Tutor Perini Corporation reported exceptional third-quarter performance with record-breaking revenue, operating cash flow, and a substantial increase in backlog, positioning the company for robust growth in the coming years.
Key takeaways
- Q3 revenue surged 31% year-over-year, driven by strong contributions from Civil and Building segments, marking the highest revenue performance since 2009.
- Operating cash flow reached $289 million for the quarter, a record for both the quarter and the first nine months of 2025, highlighting effective project collections.
- Backlog rose to a record $21.6 billion, a 54% increase year-over-year, bolstered by $2 billion in new awards and contract adjustments.
- Adjusted earnings per share of $1.15 reflect significant operational improvements, compared to an adjusted loss of $1.61 per share in Q3 2024.
- The Specialty Contractors segment returned to profitability, and management anticipates continued strong performance from large, higher-margin projects in the pipeline.