TPC Tutor Perini (TPC) Q1 FY26 earnings call
Tutor Perini delivered a strong first quarter, marked by record operating cash flow and double-digit revenue growth, driven by increased project execution on higher-margin projects. The company affirmed its full-year adjusted EPS guidance, anticipating continued strong earnings and cash generation, despite an unfavorable legal ruling and increased share-based compensation. Management expressed increased confidence in 2027 earnings potential, underpinned by a robust $19.8 billion backlog and numerous significant bidding opportunities.
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TPC operating KPIs by quarter
| KPI | Dec 2025 Q4 FY25 | This call Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Backlog | $20.6BWe concluded 2025 with a robust backlog of $20.6 billion, up 10% year-over-year and had a solid book-to-burn ratio of 1.34x for the year.Source: earnings call transcript | $19.8BOur backlog remains very strong at $19.8 billion at the end of the first quarter, and we continue to expect that it will fuel much higher revenue and earnings, increased profitability and continued strong cash flow this year and beyond.Source: earnings call transcript | $19.9BWe booked $1.7 billion of new awards and contract adjustments, a book-to-burn of just over 1x, and finished the quarter again with a near-record backlog of $19.9 billion, up slightly compared to the prior quarter.Source: earnings call transcript | +0.5% |
| Orders | — | <$700MIn the first quarter, we booked nearly $700 million of new awards and contract adjustments.Source: earnings call transcript | $1.7BWe booked $1.7 billion of new awards and contract adjustments, a book-to-burn of just over 1x, and finished the quarter again with a near-record backlog of $19.9 billion, up slightly compared to the prior quarter.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.