EarningsQ2 2026 Earnings Report
DE:PE2 Q2 2026 EPS Results
Actual EPS€1.10
Consensus EPS€0.59
Beat/MissBeat by +€0.50
One Year Ago EPS€0.34
DE:PE2 Q2 2026 Revenue Results
Actual Revenue€1.46B
Expected Revenue€1.40B
Beat/MissBeat by +€64.25M
YoY Revenue Growth+19.17%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
DE:PE2 Upcoming Earnings
Tutor Perini's next earnings date is estimated for November 11, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:PE2 Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveys strong positive momentum: record revenue, record operating income, significant operating cash generation, margin expansion across all segments, a strengthened balance sheet via refinancing and net cash position, an enlarged opportunity pipeline, and a raised EPS outlook. Near-term risks consist of reliance on many early-stage mega projects (execution/timing risk), a Specialty segment still below target margins, modest sequential backlog growth relative to strong revenue, and one-time refinancing/legacy items that could cause episodic variability. On balance, the positive financial performance, improved liquidity and strategic actions outweigh the noted risks.Company Guidance
Record Revenue and Top-Line Growth
Second quarter revenue of $1.6 billion, up 19% year-over-year, driven by increased execution on large projects in New York, California, Hawaii and the Indo-Pacific.
Record Operating Income and Improved EPS
Second quarter operating income of $118 million, up 54% year-over-year; adjusted EPS of $1.74, up 23% versus prior-year quarter.
Record Operating Cash Flow and Strong Liquidity
Record first-half operating cash flow of $334 million (up 17% vs. prior-year first half) including $187 million in Q2; cash exceeded total debt by $542 million; cash available for corporate use $424 million, up 56% year-over-year.
Backlog, New Awards and Large Opportunity Pipeline
Booked $1.7 billion of new awards/adjustments in the quarter; near-record backlog of $19.9 billion (up slightly sequentially); nine mega projects represent about $16 billion of backlog; pipeline of potential opportunities exceeds $200 billion (roughly 3x the pipeline from a few years ago).
Segment Revenue and Margin Expansion
Civil revenue $816 million (highest quarterly ever) up 11% with a 15.3% operating margin (above the 12%-15% guidance range); Building revenue $560 million up 21% with a 5.6% margin (highest Building margin since 2012); Specialty Contractors revenue $261 million up 47% with margins improving to 2.2% (large YoY turnaround).
Successful Debt Refinancing
Replaced 11.875% senior notes with $400 million of notes at 6.625% (525 bps reduction), extending maturities and delivering approximately $21 million of annual cash interest savings; revolver capacity increased from $170 million to $350 million with improved covenants.
Shareholder Returns and Capital Allocation
Quarterly cash dividend increased 50% to $0.09 per share; repurchased ~137,000 shares for $10 million and have ~$170 million remaining on the repurchase authorization.
Raised 2026 Guidance
Raised 2026 adjusted EPS guidance to $5.15-$5.45 (from $4.90-$5.30) and reaffirmed expectation of double-digit revenue growth for 2026 and higher earnings in 2027.
DE:PE2 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed