Tutor Perini (TPC) Reports Earnings Tomorrow: What To Expect

General contracting company Tutor Perini (NYSE:TPC) will be announcing earnings results this Wednesday afternoon. Here’s what investors should know.

Tutor Perini beat analysts’ revenue expectations by 16.7% last quarter, reporting revenues of $1.25 billion, up 18.8% year on year. It was an incredible quarter for the company, with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Is Tutor Perini a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Tutor Perini’s revenue to grow 12.3% year on year to $1.27 billion, improving from the 10.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.34 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Tutor Perini has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Tutor Perini’s peers in the construction and maintenance services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Primoris delivered year-on-year revenue growth of 20.9%, beating analysts’ expectations by 12.1%, and Comfort Systems reported revenues up 20.1%, topping estimates by 10.6%. Comfort Systems traded up 22.3% following the results.

Read our full analysis of Primoris’s results here and Comfort Systems’s results here.

Investors in the construction and maintenance services segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Tutor Perini is down 2.1% during the same time and is heading into earnings with an average analyst price target of $53.50 (compared to the current share price of $47).

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