General contracting company Tutor Perini (NYSE: TPC) will be reporting earnings this Wednesday after market hours. Here’s what to look for.
Tutor Perini beat analysts’ revenue expectations last quarter, reporting revenues of $1.64 billion, up 19.2% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and full-year EPS guidance exceeding analysts’ expectations.
Is Tutor Perini a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Tutor Perini’s revenue to grow 15% year on year, slowing from the 30.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Tutor Perini has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Tutor Perini’s peers in the construction and maintenance services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. MYR Group delivered year-on-year revenue growth of 32.5%, beating analysts’ expectations by 8.9%, and APi reported revenues up 22.5%, topping estimates by 6.3%. MYR Group traded up 1.1% following the results while APi was also up 7.3%.
Read our full analysis of MYR Group’s results here and APi’s results here.
Investors in the construction and maintenance services segment have had steady hands going into earnings, with share prices flat over the last month. Tutor Perini is down 8.1% during the same time and is heading into earnings with an average analyst price target of $116.25 (compared to the current share price of $79.42).
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