Tutor Perini Reduces Full Year Earnings Guidance - Quick Facts

(RTTNews) - Tutor Perini Corp. (TPC) reduced its 2019 earnings guidance based on the company's results to date. The company now expects a loss in the range of $4.77 to $4.97 per share. Excluding the impact of the impairment charge, the company projects adjusted earnings per share in the range of $1.60 to $1.80. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.12. Analysts' estimates typically exclude special items.

For the second-quarter, adjusted net income attributable to the company was $9.0 million or $0.18 per share. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.47, for the quarter.

Second-quarter revenue was $1.1 billion, consistent with last year, but negatively impacted by significant delays on certain projects. Analysts expected revenue of $1.18 billion for the quarter.

Shares of Tutor Perini were down more than 18% after hours.