Tutor Perini Q2 Revenue Rises 19.2% to $1.64 Billion, Beats Estimates

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3▲3 ▼2Impact / 5
Summary · why it matters

Tutor Perini reported second-quarter revenues of $1.64 billion, up 19.2% year on year and 4.4% above analysts' expectations, in what the company called an incredible quarter that also included a beat of analysts' EPS estimates and full-year EPS guidance exceeding expectations. The stock is down 1.5% since reporting and currently trades at $83.29. Among the 11 construction and maintenance services stocks tracked, group revenues beat consensus estimates by 3.6% while next quarter's revenue guidance came in 6.2% above, though share prices across the group are down 11.5% on average since the latest earnings results. MYR Group reported revenues of $1.08 billion, up 20.1% year on year and 8.3% above expectations, with the stock down 8.3% since reporting at $295.29. Matrix Service posted revenues of $244.5 million, up 13% year on year but 1% short of expectations, and its stock is down 9.7% at $9.81. Concrete Pumping reported revenues of $116.8 million, up 12.6% year on year and 6.5% above expectations, with its stock up 6.1% at $9.61, while Limbach reported revenues of $173.5 million, up 21.9% year on year but 2.1% below expectations, and its stock is down 33.4% at $51.33.

Impact on assets 6

Industrials± Mixed · 3 stocks
Tutor Perini Corporation
TPC
▲ PositiveCapitalrelevance

Tutor Perini beat on Q2 revenue, EPS, and raised full-year EPS guidance above expectations.

Limbach Holdings Inc
LMB
▼ NegativeDemandrelevance

Limbach revenue rose 21.9% YoY but came in 2.1% below expectations, a demand miss.

Energy Transition & Power Demand± Mixed · 2 stocks
Matrix Service Co
MTRX
▼ NegativeDemandrelevance

Matrix Service revenue rose 13% YoY but fell 1% short of expectations, a demand miss.

MYR Group Inc
MYRG
▲ PositiveDemandrelevance

MYR Group revenue up 20.1% YoY and 8.3% above expectations, a company-specific demand beat.

Cloud & Digital Infrastructure▲ · 1 stocks
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