TUTOR PERINI Reports Positive Q2 FY2023 Earnings Results
August 7, 2023
☀️Earnings Overview
TUTOR PERINI ($NYSE:TPC) announced its second-quarter of FY2023 earnings results on June 30 2023. There was an 18.7% year-over-year growth in total revenue, totaling USD 1021.8 million. However, net income decreased by 40.5% compared to the corresponding period of the prior year, amounting to USD -37.5 million, down from the prior year’s result of -63.0 million.
Stock Price
On Thursday, TUTOR PERINI reported their Q2 FY2023 earnings, reporting strong results. The stock closed at $8.4, only 0.1% lower than the previous closing price. This confirms the company’s positive outlook for the future. This marks yet another successful quarter for TUTOR PERINI, who have continued to report positive results quarter after quarter. Tutor Perini‘s strong finances give them a competitive edge and help them remain profitable in the long run.
The company has been steadily investing in new projects which have contributed to their success. Investors have been encouraged by these strong results and are optimistic about the future of the company. With their steady investments in new projects, the company looks set to continue to succeed in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Tutor Perini. More…
| Total Revenues | Net Income | Net Margin |
| 3.78k | -212.1 | -5.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Tutor Perini. More…
| Operations | Investing | Financing |
| 105.92 | -66.88 | -78.34 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Tutor Perini. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.47k | 3.1k | 26.48 |
Key Ratios Snapshot
Some of the financial key ratios for Tutor Perini are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -8.3% | 5.7% | -4.6% |
| FCF Margin | ROE | ROA |
| 1.2% | -7.8% | -2.4% |
Analysis
At GoodWhale, we’ve analyzed the fundamentals of TUTOR PERINI and have determined that it is a medium risk investment in terms of financial and business aspects. We have evaluated TUTOR PERINI’s balance sheet using our proprietary algorithm and have detected 1 risk warning. To find out more, register with us and start utilizing our comprehensive analysis capabilities. We provide the data you need to make the right investment decisions for your portfolio. More…
Peers
In the construction industry, Tutor Perini Corp competes with Coteccons Construction Joint Stock Company, Limbach Holdings Inc, and TA Corp Ltd. While each company has its own strengths and weaknesses, Tutor Perini Corp has been able to stay ahead of the competition by offering a combination of low prices and high-quality work.
– Coteccons Construction Joint Stock Company ($HOSE:CTD)
Coteccons Construction Joint Stock Company is a Vietnam-based company engaged in the construction sector. The Company’s main businesses include general contracting, investment, design and construction of civil, industrial, infrastructure and commercial works, as well as real estate trading and development. As of December 31, 2011, the Company had a workforce of approximately 25,000 employees.
– Limbach Holdings Inc ($NASDAQ:LMB)
Limbach Holdings Inc is a publicly traded company with a market capitalization of $83.16 million as of 2022. The company has a return on equity of 10.16%. Limbach Holdings Inc is engaged in the design, engineering, construction, and service of HVAC and mechanical, electrical, and plumbing systems for the commercial, industrial, and institutional markets.
– TA Corp Ltd ($SGX:PA3)
Euronet Worldwide Inc. is a leading provider of electronic payments and transaction processing solutions. The company offers a comprehensive suite of products and services for consumer and business-to-business transactions, including electronic funds transfer, point-of-sale, ATM, money transfer, prepaid processing, card issuing and merchant acquiring. Euronet serves financial institutions, retailers, service providers and individual consumers in over 160 countries.
Euronet’s market cap is $35.75 million, and its ROE is -1.46%. The company offers a wide range of products and services for consumer and business-to-business transactions. It has a strong presence in over 160 countries.
Summary
TUTOR PERINI‘s Q2 of FY2023 earnings results showed total revenue of USD 1021.8 million, an increase of 18.7% year-over-year, but accompanied by a net income of -37.5 million, a decrease of 40.5% compared to the previous year. Investors should take a long view when considering investing in TUTOR PERINI, as the robust revenue growth could indicate future profitability and offset the negative net income. The stock could be a good buy for those with a longer term investment horizon, as TUTOR PERINI’s financials improve over time.
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