TPC Tutor Perini (TPC) Q2 FY26 earnings call
Tutor Perini delivered an exceptionally strong second quarter, marked by record financial performance across revenue, operating income, and cash flow, driven by the ramp-up of high-margin mega projects. The company successfully refinanced debt, significantly reducing interest costs and increasing liquidity, while also raising its full-year adjusted EPS guidance. Management remains confident in its long-term growth trajectory, supported by a robust project pipeline and disciplined bidding strategy.
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TPC operating KPIs by quarter
| KPI | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | This call 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.