Tutor Perini (TPC) Investor presentation summary

Company overview and market positioning

• Leading provider of diversified general contracting, design-build, and self-perform construction services for public and private clients, with a strong focus on civil infrastructure projects and a 130-year track record.

• Operations span all 50 U.S. states and select international markets, including Guam, the Philippines, Canada, and the UK.

• Civil segment is the primary driver of profitability, supported by increased infrastructure spending and the $1.2T Bipartisan Infrastructure Law.

• Approximately 7,400 employees worldwide and a robust portfolio of large, complex projects.

Segment performance and backlog

• Civil segment revenue: $2.9B, backlog: $9.6B; Building segment revenue: $1.9B, backlog: $7.2B; Specialty Contractors revenue: $0.9B, backlog: $3.0B (Q1-26 figures).

• Civil segment expected to deliver 12–15% margins in 2026, focusing on megaprojects and benefiting from fewer competitors.

• Building segment targets 3–6% margins, with strong demand in California and significant projects in healthcare and detention facilities.

• Specialty Contractors segment returned to profitability, aiming for 5–8% margins, and supports internal and external clients.

• Total backlog at Q1-26 stands at $19.8B, with 49% in Civil, 36% in Building, and 15% in Specialty Contractors.

Financial highlights and guidance

• Q1 2026 revenue reached $1.39B, the highest Q1 since 2009, with operating income of $59.2M and record operating cash flow of $146.9M.

• Adjusted EPS for Q1 2026 was $1.03, up from $0.65 in Q1 2025, reflecting strong contributions from large, higher-margin projects.

• FY26 Adjusted EPS guidance is $4.90–$5.30, with expectations for double-digit revenue and earnings growth.

• Strong balance sheet with cash exceeding total debt by $404M as of March 31, 2026.

• $200M share repurchase program (90% available) and $0.06 quarterly dividend to return capital to investors.