Construction Company Tutor Perini's Stock Price Continues To Soar

WYCO Researcher
8.44K Followers

Summary

  • Tutor Perini 1Q revenue was up 35% and EPS were $0.30 compared to a loss of $0.95 in 1Q' 23.
  • The company's latest backlog is $9.9822 billion, up from 1Q last year but down from the end of 2023.
  • The potential for new mega projects is driving investor interest, but delays and cancellations pose a risk to future operations.
  • Future earnings will have to increase sharply to justify the current stock price.

Construction workers working on construction site

Paul Bradbury/OJO Images via Getty Images

Tutor Perini Corporation's (NYSE:TPC) stock price has soared 255% from its twelve-month low of $5.06. While their balance sheet has improved somewhat, and they reported fairly strong 1Q'24 results, the major reason for the stock price increase

This article was written by

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I no longer write for Seeking Alpha. B.A. in Economics; M.S. in Finance. I usually wrote about distressed companies and companies in Ch.11 bankruptcy. I am now fully retired after spending decades in investments.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of TPC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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