Shares of Tutor Perini Corporation (TPC) surged 10.28% in pre-market trading on Thursday, following the release of its impressive first-quarter earnings report. The construction and engineering company significantly outperformed analyst expectations, demonstrating robust financial performance and an optimistic outlook for the year ahead.
Tutor Perini reported earnings of $0.53 per diluted share for Q1 2025, nearly doubling the $0.30 per share recorded in the same period last year. This result far exceeded the consensus estimate of $0.09 per share from analysts polled by FactSet. The company's revenue also showed strong growth, reaching $1.25 billion for the quarter, up from $1.05 billion in the previous year and surpassing analysts' expectations of $1.07 billion.
Adding to the positive sentiment, Tutor Perini raised its full-year 2025 earnings per share (EPS) guidance. The company now projects EPS to be between $1.60 and $1.95, up from the previous range of $1.50 to $1.90. This upward revision reflects management's confidence in the company's ongoing performance and growth prospects. The construction sector's resilience and Tutor Perini's ability to secure and execute projects efficiently appear to be key factors driving its strong financial results and optimistic outlook.
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