Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Tutor Perini Slips To Loss In Q1; Backs FY12 Outlook - Quick Facts

RELATED NEWS
Trade TPC now with 

Tutor Perini Corp. (TPC: Quote) reported that its first-quarter net loss was $1.2 million, compared to net income of $6.9 million for the first quarter of 2011. Loss per common share was $0.03 for the first quarter of 2012, compared to earnings of $0.14 for the first quarter of 2011.

Operating results for the quarter were negatively impacted by $3.6 million of discrete tax adjustments related to stock-based compensation and a $2.7 million loss on the sale of certain auction rate securities which, together, contributed non-recurring charges in the quarter of $0.11 per share.

xcluding these items the Company earned an adjusted $0.08 per share, reflecting the substantial completion of several large successful projects in 2011, coupled with the timing of approval of change orders on certain Civil segment jobs, delays related to the timing of new awards, and the startup of pending awards.

Revenues from construction operations were $912.5 million for the first quarter of 2012, as compared to $615.3 million for the first quarter of 2011.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.42 per share on revenues of $1.10 billion for the quarter. Analysts' estimates typically exclude special items.

Excluding the non-recurring items, guidance for the full-year 2012 is estimated to be in the range previously provided. Revenues are estimated to be in the range of $4.5 billion to $5.0 billion and earnings per share are estimated to be in the range of $2.10 to $2.30 per share. Analysts expect the company to report earnings of $2.17 per share on revenues of $4.61 billion for fiscal 2012.

Register
To receive FREE breaking news email alerts for Tutor Perini Corporation and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Micro-blogging site Twitter Inc said Tuesday after the markets closed that its second quarter loss widened from last year, hurt mainly by stock-based compensation expense, even as revenue more than doubled thanks to growth in advertising. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Pharmaceutical giant Pfizer, Inc., which was aspiring to buy British drug maker AstraZeneca Plc, reported Tuesday a profit for the second quarter that plunged 79 percent from last year, which reflected hefty gains from animal health business sales. Total revenues declined 2 percent, as it continued to be hurt by generic competition for major drugs. Home improvement and building products company Masco Corp. said Monday after the markets closed that its second quarter profit jumped 78% from last year, as revenue increased and margins improved amid strong performance of its Plumbing Products, Installation and Other Services and Decorative Architectural Products segments.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.