Tutor Perini: Hold While Backlog Accumulates Three Quarters Of Contraction
Tutor Perini Corporation is currently rated as a Hold due to a solid balance sheet and average free cash flow margins. However, the company is experiencing a backlog contraction and a significant decline in awards, which raises concerns. Future earnings guidance for 2027 is contingent on securing major new projects amidst increasing competition.
- ▪Tutor Perini's backlog has decreased by 8% over the last three quarters, currently standing at $19.84 billion.
- ▪Awards in the first quarter fell by 66.5% year-over-year to $670 million, significantly below the required pace.
- ▪The company's ability to meet its 2027 earnings per share guidance relies on winning new projects, which is complicated by recent bid losses.
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