Tutor Perini Corporation filings document the reporting framework for a public construction contractor with Civil, Building and Specialty Contractors operations. Recent Form 8-K reports furnish quarterly and annual operating results, including construction revenue, income from construction operations, cash flow, backlog, guidance and segment performance tied to large infrastructure and building projects.
The filing record also includes proxy materials covering board governance, shareholder voting matters, executive compensation and equity-award disclosures. Other current reports address capital-return disclosures, including cash dividends and share repurchase authorization, as well as officer compensation and separation-related agreements.
Tutor Perini Corporation reported stronger top-line results but lower GAAP earnings for the three months ended March 31, 2026. Revenue rose to $1.39 billion from $1.25 billion, with growth across the Civil, Building and Specialty Contractors segments driven by newer, larger projects that are still ramping up.
Income from construction operations declined to $59.2 million from $65.3 million, as higher project contributions were more than offset by a $23.5 million jump in share‑based compensation and a $16.4 million unfavorable adjustment on a California mass‑transit project related to change‑order negotiations and unapproved change orders. Net income attributable to Tutor Perini fell to $25.7 million from $28.0 million, and diluted EPS declined to $0.48 from $0.53.
The company highlighted adjusted diluted EPS (excluding share‑based compensation and related tax effects) of $1.03, up from $0.65, reflecting underlying project performance. Operating cash flow improved sharply to $146.9 million from $22.9 million, supporting cash, cash equivalents and restricted cash of $826.8 million versus total debt of $398.9 million. Remaining performance obligations stood at $9.3 billion for Civil, $4.7 billion for Building and $2.2 billion for Specialty Contractors, providing multi‑year revenue visibility.
During the quarter, the company declared a $0.06 per share dividend and repurchased 277,578 shares for $20 million under a $200 million authorization, while maintaining full availability on its $170 million revolving credit facility.
Tutor Perini Corporation reported stronger top-line results but lower GAAP earnings for the three months ended March 31, 2026. Revenue rose to $1.39 billion from $1.25 billion, with growth across the Civil, Building and Specialty Contractors segments driven by newer, larger projects that are still ramping up.
Income from construction operations declined to $59.2 million from $65.3 million, as higher project contributions were more than offset by a $23.5 million jump in share‑based compensation and a $16.4 million unfavorable adjustment on a California mass‑transit project related to change‑order negotiations and unapproved change orders. Net income attributable to Tutor Perini fell to $25.7 million from $28.0 million, and diluted EPS declined to $0.48 from $0.53.
The company highlighted adjusted diluted EPS (excluding share‑based compensation and related tax effects) of $1.03, up from $0.65, reflecting underlying project performance. Operating cash flow improved sharply to $146.9 million from $22.9 million, supporting cash, cash equivalents and restricted cash of $826.8 million versus total debt of $398.9 million. Remaining performance obligations stood at $9.3 billion for Civil, $4.7 billion for Building and $2.2 billion for Specialty Contractors, providing multi‑year revenue visibility.
During the quarter, the company declared a $0.06 per share dividend and repurchased 277,578 shares for $20 million under a $200 million authorization, while maintaining full availability on its $170 million revolving credit facility.
Tutor Perini Corporation reported strong first quarter 2026 results, led by revenue of $1.39 billion, up 11% year over year, and record operating cash flow of $146.9 million, compared to $22.9 million a year ago.
GAAP diluted EPS was $0.48 versus $0.53 in 2025, but adjusted EPS rose to $1.03 from $0.65 as share-based compensation increased sharply due to a higher stock price. Backlog remained very strong at $19.8 billion, supporting management’s confidence.
The company affirmed 2026 adjusted EPS guidance of $4.90–$5.30 and reiterated expectations for significantly higher adjusted EPS in 2027. Total debt was $399 million and cash exceeded total debt by $404 million, reflecting a solid net cash position and funding a $20 million share repurchase in the quarter.
Tutor Perini Corporation reported strong first quarter 2026 results, led by revenue of $1.39 billion, up 11% year over year, and record operating cash flow of $146.9 million, compared to $22.9 million a year ago.
GAAP diluted EPS was $0.48 versus $0.53 in 2025, but adjusted EPS rose to $1.03 from $0.65 as share-based compensation increased sharply due to a higher stock price. Backlog remained very strong at $19.8 billion, supporting management’s confidence.
The company affirmed 2026 adjusted EPS guidance of $4.90–$5.30 and reiterated expectations for significantly higher adjusted EPS in 2027. Total debt was $399 million and cash exceeded total debt by $404 million, reflecting a solid net cash position and funding a $20 million share repurchase in the quarter.
Tutor Perini Corporation is asking shareholders to vote at its 2026 Annual Meeting on three items: electing 10 directors, ratifying Deloitte & Touche as auditor for 2026, and approving named executive officer pay on an advisory basis.
The proxy highlights a major 2025 turnaround, with record operating cash flow of $748.1 million, record revenue of $5.5 billion, income from construction operations of $232.0 million versus a $103.8 million loss in 2024, and backlog of $20.6 billion as of December 31, 2025. Total debt fell by $126.8 million in 2025 and the company notes a 177% stock price increase that year.
The Board describes a completed CEO transition, with Ronald N. Tutor now Executive Chairman and Gary G. Smalley serving as CEO and President. Compensation changes include reducing Executive Chairman pay, normalizing CEO compensation below peer median, eliminating guaranteed bonuses and most problematic pay practices, expanding long-term equity awards to more employees, and shifting NEO incentives fully to share-based rather than cash-settled long-term awards. Governance features include a majority-independent Board, a Lead Independent Director, independent key committees, a clawback policy, anti-hedging and anti-pledging rules, and annual “say-on-pay” voting.
Tutor Perini Corp ownership disclosure: The Vanguard Group filed an amendment stating it beneficially owns 0 shares of Tutor Perini Corp common stock, representing 0% of the class.
The filing explains an internal realignment effective January 12, 2026, after which certain Vanguard subsidiaries or business divisions report beneficial ownership separately. The amendment is signed by Ashley Grim on March 27, 2026.
Tutor Perini Corporation Executive Vice President William E. Jensen reported the vesting and cash settlement of 6,479 phantom stock units linked to the company’s common stock. These units vested on March 14, 2026 from a 19,439-unit cash-settled grant awarded on March 14, 2025.
The vested 6,479 units were settled in cash at a value equal to the number of units multiplied by Tutor Perini’s closing common stock price on the vesting date, recorded here as $67.76 per share. For SEC purposes, this appears as an exercise of phantom stock into 6,479 common shares and an immediate disposition of the same number of shares back to the issuer, even though no shares were actually bought or sold in the market.
After these transactions, Jensen directly holds 37,223 shares of common stock and 12,960 phantom stock units that remain outstanding from the original grant. The filing reflects routine compensation-related activity rather than a discretionary open-market trade.
Tutor Perini Corporation Executive VP & CFO Ryan Joseph Soroka reported vesting of cash-settled phantom stock units, not open-market stock trades. On March 12, 2026, 5,831 phantom stock units converted into 5,831 shares of common stock and were simultaneously reported as a disposition back to the issuer at $69.20 per share for cash settlement.
On March 13, 2026, an additional 4,779 phantom stock units converted into 4,779 common shares and were likewise reported as disposed back to the issuer at $67.76 per share, also settled in cash. The footnotes state Soroka did not actually purchase or sell common stock in these settlements. Following these transactions, he directly holds 42,883 shares of Tutor Perini common stock.
Tutor Perini Corp CEO and President Gary G. Smalley reported routine compensation-related transactions involving cash-settled phantom stock units that vested and were settled in cash. On March 12, 2026, 25,918 phantom stock units vested and were reported as an acquisition and disposition of 25,918 common shares back to the company.
On March 13, 2026, 57,349 phantom stock units vested and were similarly reported as an acquisition and disposition of 57,349 common shares back to the issuer. The footnotes state he did not actually purchase or sell any common shares in these settlements. After these entries, he directly holds 91,479 shares of common stock.
Tutor Perini Corporation executive Kristiyan D. Assouri reported a routine phantom stock vesting and cash settlement. On March 12, 2026, 5,831 cash-settled phantom stock units vested from a 17,495-unit grant made on March 12, 2025.
The vested 5,831 units were settled in cash at a value equal to the number of units multiplied by the $69.20 closing price per share of common stock on the vesting date. Under SEC rules this appears as an acquisition of 5,831 shares and a matching disposition back to the issuer, but no Tutor Perini common shares were actually bought or sold. After this vesting, Assouri’s reported phantom stock unit balance is 11,664 units, and he holds no common stock directly from this award.
Tutor Perini Corporation executive vice president Ghassan Ariqat reported routine compensation-related transactions involving phantom stock units. On March 12, 2026, 6,479 cash-settled phantom stock units vested and were reported as an exercise into 6,479 shares of common stock, followed by a disposition of those shares back to the company at a reported value of $69.20 per share. According to the disclosure, the award was settled entirely in cash based on the closing stock price, and Ariqat did not actually purchase or sell any Tutor Perini common shares in the market. After this vesting event, he holds 12,960 phantom stock units, with additional units scheduled to vest in future years under the original grant terms.