TUTOR PERINI CORP
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
TPC$97.43+2.9%Stored close · as of Nov 10, 2026
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Item 1. Financial Statements:
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| (in thousands, except per common share amounts) | 2024 | 2023 | 2024 | 2023 |
| REVENUE | $1,082,816 | $1,060,705 | $3,259,273 | $2,858,756 |
| COST OF OPERATIONS | (1,108,644) | (1,009,792) | (3,052,773) | (2,767,051) |
| GROSS PROFIT (LOSS) | (25,828) | 50,913 | 206,500 | 91,705 |
| General and administrative expenses | (80,979) | (63,479) | (224,008) | (183,828) |
| LOSS FROM CONSTRUCTION OPERATIONS | (106,807) | (12,566) | (17,508) | (92,123) |
| Other income, net | 4,487 | 2,967 | 15,636 | 12,442 |
| Interest expense | (21,223) | (20,313) | (63,614) | (63,842) |
| LOSS BEFORE INCOME TAXES | (123,543) | (29,912) | (65,486) | (143,523) |
| Income tax benefit | 33,941 | 4,086 | 19,355 | 52,004 |
| NET LOSS | (89,602) | (25,826) | (46,131) | (91,519) |
| LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS | 11,260 | 11,070 | 38,159 | 32,107 |
| NET LOSS ATTRIBUTABLE TO TUTOR PERINI CORPORATION | $(100,862) | $(36,896) | $(84,290) | $(123,626) |
| BASIC LOSS PER COMMON SHARE | $(1.92) | $(0.71) | $(1.61) | $(2.39) |
| DILUTED LOSS PER COMMON SHARE | $(1.92) | $(0.71) | $(1.61) | $(2.39) |
| WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING: | ||||
| BASIC | 52,408 | 51,994 | 52,276 | 51,784 |
| DILUTED | 52,408 | 51,994 | 52,276 | 51,784 |
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2024 | 2023 |
| NET LOSS | $(89,602) | $(25,826) | $(46,131) | $(91,519) |
| OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX: | ||||
| Defined benefit pension plan adjustments | 207 | 299 | 849 | 896 |
| Foreign currency translation adjustments | 854 | (1,017) | (776) | (239) |
| Unrealized gain (loss) in fair value of investments | 3,858 | (255) | 3,747 | 482 |
| TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX | 4,919 | (973) | 3,820 | 1,139 |
| COMPREHENSIVE LOSS | (84,683) | (26,799) | (42,311) | (90,380) |
| LESS: COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS | 11,937 | 10,597 | 38,176 | 32,188 |
| COMPREHENSIVE LOSS ATTRIBUTABLE TO TUTOR PERINI CORPORATION | $(96,620) | $(37,396) | $(80,487) | $(122,568) |
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