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Jun 30, 2022
Tutor Perini Q2 2022 Earnings Report
Reported second quarter 2022 results with a net loss, but backlog increased and operating cash flow was strong.
Key Takeaways
Tutor Perini reported a net loss of $63.0 million for Q2 2022, compared to a net income of $31.2 million in Q2 2021. Revenue decreased to $0.9 billion from $1.2 billion in the same quarter last year. However, the company's backlog increased by 14% year-over-year to $8.5 billion, and operating cash flow was strong at $58.0 million for the quarter.
Operating cash flow was $58.0 million in Q2 2022, compared to usage of $84.6 million in Q2 2021.
Record year-to-date operating cash flow of $178.7 million.
Backlog increased 14% year-over-year to $8.5 billion.
Company anticipates improved operating cash generation for the remainder of 2022 compared to the second half of 2021.
Revenue by Segment
Forward Guidance
The Company is withdrawing its guidance for 2022 and expects to issue new guidance once it has greater visibility into the timing and magnitude of any potential settlements, which it expects to have by the time of the third quarter earnings announcement. Regardless of the outcome of any potential settlements, the Company now expects a net loss for 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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