Tutor Perini Corporation

NYSE:TPC Stock Report

Market Cap: US$5.1b

Tutor Perini Future Growth

Future criteria checks 4/6

Tutor Perini is forecast to grow earnings and revenue by 53.1% and 12% per annum respectively while EPS is expected to grow by 52.2% per annum.

Key information

53.1%

Earnings growth rate

52.16%

EPS growth rate

Construction earnings growth23.2%
Revenue growth rate12.0%
Future return on equityn/a
Analyst coverage

Low

Last updated07 May 2026

Recent future growth updates

Recent updates

Narrative Update • May 03

TPC: Higher Margin Backlog And 2026 Execution Risks Will Shape Returns

Narrative Update on Tutor Perini The analyst price target for Tutor Perini has risen by $12 to $98, with analysts pointing to stronger revenue, profit margins, and backlog driven by higher margin, large scale projects across all segments as key supports for this revised view. Analyst Commentary Recent research points to rising optimism on Tutor Perini, with price targets lifted in response to reported Q4 results and backlog metrics.
Narrative Update • Apr 17

TPC: Higher Margin Backlog And 2026 Outlook Will Drive Future Upside

Analysts have lifted their price targets on Tutor Perini into a higher range, with recent moves from $86 to $98 and from $95 to $120. These changes reflect updated views on revenue, margins and future P/E assumptions following the latest quarterly results and backlog trends.
Narrative Update • Apr 02

TPC: Large Project Backlog And Higher Margins Will Support Long Term Upside

The analyst price target for Tutor Perini has been raised from $91.50 to $109.50, as analysts cite improving backlog trends, higher-margin large projects, and recent Street targets in the $98 to $120 range following the latest quarterly results. Analyst Commentary Recent research updates reflect more constructive views on Tutor Perini, with bullish analysts lifting price targets into a higher range as they reassess revenue visibility, margin potential, and execution on larger projects.
Narrative Update • Mar 19

TPC: Backlog And Rail Extension Pipeline Will Drive Future Re Rating

Narrative Update on Tutor Perini The updated analyst price target for Tutor Perini has moved from $95 to $120. Analysts point to recent Street research that highlights Q4 revenue of $1.51b, adjusted EBITDA of $62.3m, EPS of $0.54, and a 10% year over year increase in backlog, along with identified future projects and ongoing construction demand, as key supports for the higher valuation range.
Narrative Update • Mar 05

TPC: Higher Margin Backlog And Honolulu Extension Work Will Drive Future Upside

Narrative Update The analyst price target for Tutor Perini has been raised by $12 to $98. Analysts pointed to recent Q4 results that included $1.51b in revenue, adjusted EBITDA of $62.3m, EPS of $0.54, and a 10% year over year backlog increase, supported by higher margin, large scale projects across all segments and identified future work of about $1b.
Narrative Update • Feb 18

TPC: Honolulu Rail Extension Optionality Will Support A Balanced Outlook

Analysts have maintained their $86.00 price target on Tutor Perini, reflecting updated assumptions that now indicate slightly higher revenue growth, improved profit margins, and a lower expected future P/E multiple. What's in the News Tutor Perini received a change order valued at approximately US$53 million for the City Center Guideway and Stations Project in Honolulu, HI, related to extending the rail segment and adding two stations along the alignment (Key Developments).
Narrative Update • Feb 04

TPC: Rail Contract Wins And Capital Returns Will Support Long Term Backlog

Analysts have nudged their price target for Tutor Perini higher to US$91.50 from US$89.00, reflecting slightly adjusted fair value and discount rate inputs, along with a modestly higher assumed future P/E multiple. What's in the News Tutor Perini received a change order of about US$53 million for the City Center Guideway and Stations Project in Honolulu, allowing it to design the rail segment that extends the current terminal and connects Kaka'ako to Ala Moana, including two additional stations.
Narrative Update • Jan 21

TPC: Honolulu Rail Wins And Buybacks Will Drive Infrastructure Upside

Analysts have nudged their price target for Tutor Perini higher to US$86 from US$85, citing slightly adjusted assumptions around the discount rate, revenue growth, profit margins and future P/E as the key drivers of this change. What's in the News Tutor Perini announced a change order valued at approximately US$53 million for the City Center Guideway and Stations Project in Honolulu, HI, to design the rail segment extending the current terminal and connecting Kaka'ako to Ala Moana, including two additional stations along the alignment (Key Developments).
Seeking Alpha • Jan 15

Tutor Perini: Backlog Is Finally Turning Into Cash

Summary Tutor Perini is transitioning from legacy dispute-driven volatility to a high-margin, cash-generative business, supported by record operating cash flows. Q3 2025 operating cash flow reached $289M, nine-month cash flow hit $574M, and management raised guidance, highlighting multi-year revenue visibility from a record $21.6B backlog. Civil segment backlog, now $10.5B (49% of total), is expected to deliver 12–15% margins in 2026, underpinning operating leverage and profitability. I rate TPC a Strong Buy, as accelerating cash generation, debt reduction, and potential for dividends/buybacks signal a rerating opportunity beyond its historical contractor narrative. Read the full article on Seeking Alpha
Narrative Update • Jan 07

TPC: Future Rail Extension And Buybacks Will Support Stronger Outlook

Analysts have lifted their price target on Tutor Perini to US$95 from US$90, pointing to updated assumptions around discount rates, revenue growth, profit margins, and a lower future P/E multiple as the key drivers of the change. What's in the News Tutor Perini received a change order of about US$53 million for the City Center Guideway and Stations Project in Honolulu, HI, to design the rail segment extending the current terminal and connecting Kaka'ako to Ala Moana, including two additional stations (Key Developments).
Narrative Update • Dec 21

TPC: Cleaner Balance Sheet Will Drive Transit And Infrastructure Upside

Analysts have raised their price target on Tutor Perini from $67 to $85 per share, citing improved balance sheet strength, a cleaner litigation backdrop, and the company’s strong positioning for future transit and infrastructure growth. Analyst Commentary While the latest Buy initiation highlights meaningful upside tied to Tutor Perini’s strengthened balance sheet and reduced litigation overhang, commentary across the Street remains mixed, with some observers urging caution on the pace and durability of the recovery.
Narrative Update • Dec 07

TPC: Cleaner Balance Sheet Will Drive Long Term Transit Backlog Expansion

Analysts have modestly raised their price target on Tutor Perini to $85.00, citing the company’s improved balance sheet, waning legacy disputes, and strong positioning for long term transit related growth. Analyst Commentary Analysts broadly view the risk reward profile for Tutor Perini as increasingly attractive, with recent coverage highlighting a cleaner balance sheet and a clearer runway for growth in transit and infrastructure markets.
Narrative Update • Nov 23

TPC: Decades Of Experience And Legal Resolutions Will Drive Growth Ahead

Analysts have raised their price target for Tutor Perini from $85.75 to $89.00, citing strengthened growth prospects, a healthier balance sheet, and the resolution of major legacy legal issues. Analyst Commentary Recent analyst coverage reflects renewed optimism regarding Tutor Perini's prospects, as well as some areas of prudent caution.
Narrative Update • Nov 07

TPC: Improved Balance Sheet Will Drive Expansion After Legal Resolutions

Narrative Update on Tutor Perini Analysts have raised their price target for Tutor Perini from $75.00 to $85.75, citing the company's strengthened balance sheet, improved profit margins, and expectations for sustained growth following the resolution of legacy legal disputes. Analyst Commentary Recent analyst coverage of Tutor Perini highlights a range of views regarding the company's growth prospects and potential headwinds.
Narrative Update • Aug 08

Record Backlog And Public Projects Will Generate Future Value

The modest increase in Tutor Perini’s consensus price target to $75.00 is primarily supported by a slightly higher future P/E multiple, reflecting improved market sentiment rather than any material upgrade to revenue growth expectations. What's in the News Tutor Perini raised 2025 GAAP EPS guidance to $1.70–$2.00 (from $1.60–$1.95) and expects 2026 and 2027 EPS above the new 2025 upper end.
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New Narrative • May 08

Indo-Pacific Contracts And Active Order Backlog Will Pave Future Success

A robust backlog with higher-margin projects is likely to drive significant revenue and earnings growth for Tutor Perini in the coming years.
Seeking Alpha • Mar 24

Tutor Perini: Consolidating For Now, But Outlook Is Even Brighter (Rating Upgrade)

Summary We've always liked the prospects of construction company Tutor Perini, but following a decent retracement in the price we are now revising our rating from a hold to a buy. TPC's backlog surged by a whopping 84% YoY, in Q4, providing strong visibility for the next few years. Improved cash generation (FCF yield of 36%) and debt reduction efforts (52% reduction YoY) have positioned TPC for potential shareholder distributions, enhancing investor appeal. TPC's earnings growth outlook is strong, with management projecting EPS to more than double by 2026, making current valuations of 8x P/E look cheap. TPC found it challenging to clear an old multi-year resistance point, but it is finding support at the 200DMA and has been consolidating with a view to retest resistance. Read the full article on Seeking Alpha
Seeking Alpha • Dec 21

Tutor Perini: Fewer Disputes, More Profits On The Horizon

Summary Tutor Perini has faced significant disputes impacting earnings but aims for profitability in 2025 through higher-margin contracts and dispute resolution. The company reported a Q3-2024 net loss due to adverse arbitration decisions but achieved record operating cash flow. With a $14 billion backlog and improved contract terms, Tutor Perini is positioned for strong revenue and earnings growth. Despite progress, uncertainty remains around dispute resolutions, leading to a Buy rating rather than a Strong Buy. Read the full article on Seeking Alpha
Seeking Alpha • Sep 30

Tutor Perini: A Lot To Like, But Wait For A Pullback

Summary Tutor Perini, a small-cap play on renewed infrastructure momentum in the US has outperformed its small-cap peers by 9x over the past year. We touch upon various encouraging themes linked to TPC including its enhanced positioning, margin uplift, strong forward earnings growth, resilient cash-flow generation, and debt paydowns. On the standalone charts, TPC is looking overextended, and it no longer looks like a ripe candidate for mean reversion within the infrastructure space. Read the full article on Seeking Alpha
Seeking Alpha • Jul 14

Tutor Perini: Heed The Insiders

Summary The stock of construction concern Tutor Perini has risen some 70% since the company posted blowout Q1 results in late April. The company is benefiting from the huge surge in governmental funding for infrastructure projects. However, insider selling has seen a notable pickup during this rally, the stock is notoriously cyclical, and debt service costs are increasing. Can the shares continue to rise, or is profit taking ahead?  An analysis around Tutor Perini follows in the paragraphs below. Read the full article on Seeking Alpha
Seeking Alpha • May 06

Construction Company Tutor Perini's Stock Price Continues To Soar

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. Read the full article on Seeking Alpha

Earnings and Revenue Growth Forecasts

NYSE:TPC - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20277,0052335004704
12/31/20266,2161955005222
3/31/20265,68678703872N/A
12/31/20255,54380567748N/A
9/30/20255,103-28789904N/A
6/30/20254,771-132564637N/A
3/31/20254,525-151371428N/A
12/31/20244,327-164466504N/A
9/30/20244,281-132266302N/A
6/30/20244,259-68339382N/A
3/31/20244,153-106340385N/A
12/31/20233,880-171256308N/A
9/30/20233,765-21774137N/A
6/30/20233,776-21244106N/A
3/31/20233,615-23842108N/A
12/31/20223,791-210147207N/A
9/30/20223,921-88201255N/A
6/30/20224,028-40113162N/A
3/31/20224,38654-2219N/A
12/31/20214,64292-187-148N/A
9/30/20214,95598-149-111N/A
6/30/20215,218120-59-17N/A
3/31/20215,276107107160N/A
12/31/20205,319108118173N/A
9/30/20205,147-1391156N/A
6/30/20204,894-31230306N/A
3/31/20204,743-370146227N/A
12/31/20194,451-388N/A137N/A
9/30/20194,456-252N/A168N/A
6/30/20194,390-250N/A-28N/A
3/31/20194,38595N/A-30N/A
12/31/20184,45583N/A21N/A
9/30/20184,464115N/A127N/A
6/30/20184,541117N/A136N/A
3/31/20184,668122N/A123N/A
12/31/20174,757148N/A164N/A
9/30/20174,81198N/A21N/A
6/30/20174,944103N/A74N/A
3/31/20175,00594N/A65N/A
12/31/20164,97396N/A113N/A
9/30/20164,92774N/A88N/A
6/30/20164,93565N/A50N/A
3/31/20164,93956N/A32N/A
12/31/20154,92045N/A14N/A
9/30/20154,92264N/A107N/A
6/30/20154,83180N/A-27N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: TPC's forecast earnings growth (53.1% per year) is above the savings rate (3.5%).

Earnings vs Market: TPC's earnings (53.1% per year) are forecast to grow faster than the US market (16.4% per year).

High Growth Earnings: TPC's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TPC's revenue (12% per year) is forecast to grow faster than the US market (11.4% per year).

High Growth Revenue: TPC's revenue (12% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if TPC's Return on Equity is forecast to be high in 3 years time

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/07 11:28
End of Day Share Price 2026/05/07 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Tutor Perini Corporation is covered by 13 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Liam BurkeB. Riley Securities, Inc.
Robert BurlesonCanaccord Genuity
Michael RollinsCitigroup Inc