Tutor Perini Corporation reported strong results for the first quarter of 2025 on May 7, 2025, with consolidated revenue growing 19% year-over-year to $1.25 billion. This growth was broad-based across all three segments, driven by increased project execution activities on newer, higher-margin projects.
Income from construction operations increased 34% to $65.3 million in Q1 2025 compared to the same period in 2024. The company reported net income attributable to the company of $28.0 million, or $0.53 diluted EPS, a significant improvement from the prior year.
The company's consolidated backlog reached a new record of $19.4 billion as of March 31, 2025, representing a 94% increase year-over-year and a 4% increase from the end of 2024. Based on these strong results, management increased its 2025 EPS guidance to a range of $1.60 to $1.95, up from the initial $1.50 to $1.90, and conservatively projects 2026/2027 earnings to be more than double the 2025 midpoint.
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