TPC earnings analysis
What we found in TPC's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Tutor Perini Corporation reported a strong Q1 2026 with adjusted EPS of $1.03, representing a 58% year-over-year increase. Revenue for the quarter reached $1.39 billion, up 11.5% compared to the same quarter last year, driven by increased project execution across all segments. However, the company missed revenue estimates slightly, leading to concerns about potential future performance.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Adjusted EPS Growth
- Adjusted diluted EPS was $1.03, up 58% YoY from $0.65.
- Revenue Increased 11.5% Year-Over-Year
- Q1 2026 revenue was $1.39 billion, up from $1.25 billion in Q1 2025.
- Record Operating Cash Flow
- Operating cash flow reached $146.9 million, a significant increase from $22.9 million in Q1 2025.
- Civil Segment Revenues Reached New Highs
- Civil segment revenue was $697.8 million, up 14.4% from $610 million YoY.
- Improved Building Segment Performance
- Building segment revenue increased to $473 million, a 2.9% rise YoY.
- Positive Cash Position
- Cash and cash equivalents rose to $803 million, up from $734.6 million at year-end 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased Share-Based Compensation
- Share-based compensation expense rose by $23.5 million YoY, impacting overall profitability.
- Decline in New Awards Comparatively
- New awards totaled $0.7 billion, significantly down from $2.0 billion in Q1 2025.
- Rising Corporate General Admin Expenses
- Corporate expenses increased to $45.5 million from $17.6 million, primarily due to share-based compensation.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.03
- Segment
- Civil: $697.8M
- Segment
- Building: $473.0M
- Segment
- Specialty Contractors: $218.7M
What they said about what is next.
Management affirmed adjusted EPS guidance for 2026 in the range of $4.90 to $5.30.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 26, 2026
- Tutor Perini Corporation reported strong growth in 2025, achieving consolidated revenue of $5.5 billion, a 28% increase year-over-year, driven by successful project execution across all three segments: Civil, Building,…
- 10-Q · November 5, 2025
- Tutor Perini Corporation reported strong financial results for Q3 2025, achieving $1.42 billion in revenue, a 30.7% increase year-over-year. The company also marked significant improvements in earnings per share, with…
- 10-Q · August 6, 2025
- Tutor Perini Corporation reported a strong Q2 2025, with revenues of $1.37 billion, reflecting a 21.8% year-over-year increase. Diluted EPS surged to $1.41, significantly above estimates, driven by improved project…
- 10-Q · May 7, 2025
- Tutor Perini Corporation (TPC) reported a strong Q1 2025 with significant growth in revenue and earnings, surpassing both prior estimates and previous year’s results. Revenue increased by 19% year-over-year to $1.25…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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