Tutor Perini Corporation reported strong results for the second quarter of 2025 on August 6, 2025, with consolidated revenue growing 22% year-over-year to $1.37 billion. This growth was driven by increased project execution activities on newer, higher-margin projects across all three segments.
Income from construction operations increased 89% to $76.4 million in Q2 2025 compared to the same period in 2024. The company reported net income attributable to the company of $20.0 million, or $0.38 diluted EPS, a substantial increase from $0.8 million, or $0.02 diluted EPS, in Q2 2024.
The company generated record operating cash flow of $262.4 million in the second quarter of 2025 and $285.3 million in the first six months of 2025. For the first time since 2010, the company's cash exceeded its total debt by $107 million as of June 30, 2025, following a 21% reduction in total debt since the end of 2024.
Tutor Perini's backlog grew to a new record of $21.1 billion as of June 30, 2025, representing a 102% increase year-over-year. Based on these outstanding results, the company raised its 2025 GAAP EPS guidance to a range of $1.70 to $2.00, up from $1.60 to $1.95, and expects 2026 and 2027 EPS to be higher than the upper end of its increased 2025 guidance.
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