Tutor Perini Corporation reported significant financial growth in its latest quarterly results, with revenue for the three months ended June 30, 2025, reaching $1.37 billion, a 21.8% increase from $1.13 billion in the same period last year. For the first half of 2025, revenue totaled $2.62 billion, up 20.4% from $2.18 billion in the prior year. The company attributed this growth to increased project execution activities across its segments, particularly in civil construction projects, including mass transit and detention facilities.
The company's income from construction operations also saw a substantial rise, with figures of $76.4 million for the second quarter and $141.8 million for the first half of 2025, marking increases of 88.7% and 58.7%, respectively, compared to the previous year. This growth was driven by favorable adjustments related to change orders and improved performance on key projects. However, the company faced increased share-based compensation expenses, which rose significantly due to a higher stock price, impacting overall profitability.
In terms of operational metrics, Tutor Perini's backlog reached a record $21.1 billion as of June 30, 2025, reflecting a 9% increase from the previous record of $19.4 billion at the end of the first quarter. The Civil segment accounted for approximately 53% of this backlog, with notable contributions from new awards totaling $3.1 billion in the second quarter alone. The company has successfully secured major contracts, including a $1.87 billion project for the Midtown Bus Terminal Replacement in New York.
Geographically, the company reported that the majority of its revenue continues to come from the United States, which accounted for $1.23 billion in the second quarter of 2025, compared to $972.4 million in the same period last year. The company also noted a strong pipeline of prospective projects, supported by favorable market dynamics and public funding initiatives, particularly in infrastructure. Looking ahead, Tutor Perini expects continued revenue growth driven by its robust backlog and ongoing project execution, despite potential challenges from rising interest rates and economic conditions.
About TUTOR PERINI CORP
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