Tutor Perini: 3Q Earnings Snapshot
SYLMAR, Calif. (AP) _ Tutor Perini Corp. (TPC) on Wednesday reported third-quarter profit of $21.3 million.
On a per-share basis, the Sylmar, California-based company said it had net income of 42 cents.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The construction company posted revenue of $1.12 billion in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $1.31 billion.
Tutor Perini expects full-year earnings to be $1.50 to $1.65 per share.
Tutor Perini shares have decreased 26 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.76, a decline of 30 percent in the last 12 months.