Tutor Perini Predicts Double-Digit GrowthThursday, March 7, 2013
Tutor Perini Corp. announced guidance for fiscal 2013 that predicts significant growth over last year’s performance.
The Sylmar construction company predicted revenue between $4.5 billion and $5.0 billion, a double-digit gain from its $4.1 billion in revenue last year. It expects earnings per share between $1.65 and $1.90 compared to a loss of $5.59 last year.
“We expect to deliver double-digit revenue growth in three of our four segments in 2013,” Chief Executive Ron Tutor said in a statement. “In addition, we have a significant number of pending proposals with an aggregate value exceeding $2 billion. We will revisit guidance again mid-year, by which time we expect the results of these proposals to be made public.”
Tutor Perini is a civil engineering and construction company with large public contracts on highways and water systems as well as private buildings in the hospitality, health care and industrial sectors.
Shares closed Thursday at $16.85, down 35 cents or 2 percent in trading on the New York Stock Exchange.