Every material Form 8-K Tutor Perini has filed with the SEC since January 02, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Tutor Perini reported third-quarter 2026 revenue of $1.7 billion, up 22% from a year earlier, and diluted EPS of $0.39 versus $0.07. The company raised its 2026 adjusted EPS guidance to $5.90 to $6.10 from $5.15 to $5.45, which is a material change for shareholders. The results include a $51.4 million loss on debt extinguishment and a $33.8 million pension settlement charge.
Q3 2026 revenue was $1.7 billion, up 22% from $1.4 billion in Q3 2025.
Q3 2026 diluted EPS was $0.39 versus $0.07; adjusted EPS was $1.83 versus $1.15.
2026 adjusted EPS guidance raised to $5.90 to $6.10 from $5.15 to $5.45.
Backlog was $20.4 billion as of September 30, 2026.
Sid Feltenstein, the board designee of Ronald N. Tutor, told Tutor Perini on October 7, 2026 that he will resign from the board effective October 30, 2026. The resignation follows Mr. Tutor's affiliated trusts selling company stock, which dropped his beneficial ownership below the 11.25% threshold needed to keep a designated seat. The company expects the board to shrink in size after his departure.
Sid Feltenstein resigns from the Board effective October 30, 2026, notice given October 7, 2026
Resignation triggered by Ronald N. Tutor's beneficial ownership falling below 11.25% after recent stock sales by affiliated trusts
Under the 2008 Shareholders Agreement, Mr. Tutor could designate one board member while holding at least 11.25%
The Board expects to reduce its size following the resignation
Tutor Perini disclosed that William E. Jensen, Executive Vice President - Civil West, notified the company on August 11, 2026 of his decision to retire effective September 4, 2026. The filing does not name a successor or describe any change to compensation, and the company thanked him for his service.
William E. Jensen, Executive Vice President - Civil West, to retire
Tutor Perini reported record second-quarter 2026 revenue of $1.6 billion, up 19% from a year earlier, and diluted EPS of $1.23 versus $0.38. The company raised its 2026 adjusted EPS guidance to $5.15 to $5.45 from $4.90 to $5.30 and increased its quarterly dividend 50% to $0.09 per share. The filing says a $27.5 million decline in share-based compensation expense helped second-quarter results.
Revenue $1.6 billion, up 19% from $1.4 billion; income from construction operations $117.7 million, up 54%
Diluted EPS $1.23 versus $0.38; adjusted EPS $1.74 versus $1.41
2026 adjusted EPS guidance raised to $5.15 to $5.45 from $4.90 to $5.30
Quarterly dividend raised to $0.09 per share from $0.06, payable September 3, 2026, to holders of record on August 19, 2026
Tutor Perini closed a $400 million offering of 6.625% senior notes due 2033 on July 2, 2026, and used the proceeds, with cash on hand, to redeem all $400 million of its 11.875% notes due 2029. The company also amended and restated its revolving credit facility, extending its maturity to July 2, 2031 and raising commitments from $170.0 million to $350.0 million, with lower borrowing margins. The refinancing replaces higher-cost debt with lower-cost debt, though the filing does not state the resulting annual interest savings.
$400 million of 6.625% senior notes due July 15, 2033 sold at 100% of principal
Proceeds plus cash on hand used to redeem $400 million of 11.875% notes due 2029 at 108.906% of principal
Revolving credit facility commitments increased from $170.0 million to $350.0 million; maturity extended to July 2, 2031
New covenants include maximum Total Net Leverage Ratio of 3.50 to 1.00 and minimum Interest Coverage Ratio of 3.00 to 1.00
Tutor Perini's Compensation Committee approved a deferred compensation plan on May 20, 2026, letting eligible employees, including named executive officers, defer cash pay. At its annual meeting, shareholders elected all 10 director nominees, ratified Deloitte & Touche LLP as auditor for 2026, and approved executive compensation on an advisory basis.
Deferred Compensation Plan approved May 20, 2026; participants are always 100% vested in their elective deferrals
All 10 director nominees elected to serve until the 2027 annual meeting, with Jigisha Desai receiving the most votes against (3,755,431)
Deloitte & Touche LLP ratified as auditor for 2026 with 44,877,918 votes for and 937,200 against
Advisory say-on-pay vote approved with 38,631,812 votes for and 952,357 against
Tutor Perini reported first quarter 2026 revenue of $1.4 billion, up 11% from a year earlier, and record operating cash flow of $146.9 million. Diluted EPS fell to $0.48 from $0.53, though adjusted EPS, which excludes share-based compensation, rose to $1.03 from $0.65, and the company affirmed its 2026 adjusted EPS guidance of $4.90 to $5.30.
Revenue of $1.4 billion, up 11% year over year; income from construction operations of $59.2 million, down 9% from $65.3 million
Diluted EPS of $0.48 versus $0.53 a year earlier; adjusted diluted EPS of $1.03 versus $0.65, with a $23.5 million increase in share-based compensation expense cited
Backlog of $19.8 billion at March 31, 2026; 2026 adjusted EPS guidance of $4.90 to $5.30 affirmed
Repurchased 277,578 shares for $20 million in the quarter under a $200 million program
Tutor Perini reported fourth-quarter and full-year 2025 results in a press release furnished as Exhibit 99.1 to a Form 8-K dated February 26, 2026. Full-year revenue rose 28% to $5.5 billion, and the company returned to a profit after a loss in 2024, with diluted EPS of $1.51 compared with a loss of $3.13. The company also gave 2026 adjusted EPS guidance of $4.90 to $5.30, which excludes share-based compensation expense.
2025 revenue was $5.5 billion, up 28% from 2024.
Income from construction operations was $232.0 million in 2025, compared with a loss of $103.8 million in 2024.
Operating cash flow was a record $748.1 million in 2025, up 49% year-over-year.
The company expects 2026 adjusted EPS of $4.90 to $5.30 and does not provide GAAP EPS guidance.
Tutor Perini reported third-quarter 2025 revenue of $1.42 billion, up 31% from $1.08 billion a year earlier, and swung to diluted earnings of $0.07 per share from a loss of $1.92 per share. The company raised its 2025 Adjusted EPS guidance to $4.00 to $4.20 from $3.65 to $3.95, its third consecutive increase, and reported a record backlog of $21.6 billion.
Q3 2025 revenue of $1.42 billion, up 31% from $1.08 billion in Q3 2024
Diluted EPS of $0.07 versus a loss of $1.92 a year earlier; Adjusted EPS of $1.15 versus an adjusted loss of $1.61
2025 Adjusted EPS guidance raised to $4.00 to $4.20 from $3.65 to $3.95; GAAP EPS guidance no longer provided
Record backlog of $21.6 billion at September 30, 2025, up 54%; Q3 operating cash flow of $289.1 million
Tutor Perini reported second-quarter 2025 revenue of $1.37 billion, up 22% from a year earlier, and diluted EPS of $0.38 versus $0.02 in the same period of 2024. The company raised its 2025 GAAP EPS guidance to $1.70 to $2.00 from $1.60 to $1.95, which is a positive signal for shareholders, though the filing notes share-based compensation rose sharply with the stock price.
Q2 2025 revenue was $1.37 billion, up 22%; income from construction operations was $76.4 million, up 89%
Diluted EPS was $0.38 versus $0.02 in Q2 2024; adjusted EPS, which excludes share-based compensation, was $1.41 versus $0.34
2025 GAAP EPS guidance raised to $1.70 to $2.00 from $1.60 to $1.95; adjusted EPS guidance $3.65 to $3.95 from $2.45 to $2.80
Share-based compensation expense rose $38.5 million year over year, largely due to the doubling of the stock price in Q2 2025
On June 19, 2025, Tutor Perini entered into a letter agreement with Executive Vice President Ghassan M. Ariqat, superseding his prior employment letter. The agreement memorializes his previously disclosed salary, target bonus and long-term incentive opportunities and adds long-term equity incentive awards in 2027 valued at $2.5 million. The filing describes an officer compensation arrangement and does not include financial results or other changes that would directly alter the company's outlook.
Agreement dated June 19, 2025, with Ghassan M. Ariqat, EVP, Building and Specialty Contractors Groups
Supersedes Ariqat's prior employment letter and supplements his previously disclosed separation benefits agreement
Adds long-term equity incentive awards in 2027 valued at $2.5 million
Salary, target bonus and long-term incentive opportunities were previously disclosed and are restated
At the May 15, 2025 annual meeting, shareholders elected all 10 director nominees, ratified Deloitte & Touche LLP as auditor, and approved an amended and restated Omnibus Incentive Plan that adds 2,000,000 shares and extends the plan's term to April 10, 2030. Shareholders did not approve executive pay in the non-binding advisory vote, with 28,316,141 votes against and 12,992,948 for, a result that signals opposition to current executive compensation and that the expanded plan will govern future awards.
Advisory vote on named executive officer pay failed: 12,992,948 for, 28,316,141 against, 1,114,264 abstentions.
Incentive plan approved with 40,675,747 for and 1,634,483 against; it adds 2,000,000 shares and extends the term from April 10, 2028 to April 10, 2030.
Directors Robert C. Lieber (29,977,868 for, 12,334,057 against) and Dennis D. Oklak (29,036,644 for, 13,375,750 against) received the lowest support among nominees, though both were elected.
Deloitte & Touche LLP ratified as auditor for 2025 with 46,295,959 for and 694,995 against.
Tutor Perini reported first-quarter 2025 revenue of $1.25 billion, up 19% from a year earlier, and diluted EPS of $0.53, up from $0.30. The company raised its 2025 EPS guidance to $1.60 to $1.95 from $1.50 to $1.90, and said it expects 2026 and 2027 EPS to be more than double its 2025 guidance. Operating cash flow fell to $22.9 million from $98.3 million a year earlier, which the company attributed to prior-year dispute collections.
Revenue $1.25 billion, up 19% from $1.05 billion; income from construction operations $65.3 million, up 34%
Diluted EPS $0.53 versus $0.30 a year earlier; net income attributable to the company $28.0 million
2025 EPS guidance raised to $1.60 to $1.95 from $1.50 to $1.90
Backlog record $19.4 billion at March 31, 2025, up 94%; operating cash flow $22.9 million versus $98.3 million
On March 31, 2025, Tutor Perini signed Separation Benefits Agreements with three executives: Ghassan Ariqat, Kristiyan Assouri and CFO Ryan Soroka. The agreements set severance at 150% of base salary plus target bonus, rising to 200% if termination follows a change in control, and provide for equity vesting and a pro-rata bonus. The filing describes these as compensation terms for executives rather than a change in leadership, so the direct effect on shareholders is limited to the potential cost of severance if an executive leaves.
Agreements dated March 31, 2025, cover Ghassan M. Ariqat, Kristiyan D. Assouri and Ryan J. Soroka
Severance equals 150% of base salary plus target bonus, or 200% if termination occurs within two years after, or in some cases six months before, a change in control
Benefits include a pro-rata bonus based on actual performance and full vesting of equity awards, with performance awards vesting at the greater of target or actual performance
Payments are conditional on signing and not revoking a general release of claims
Tutor Perini reported fourth-quarter and full-year 2024 results, with 2024 revenue up 12% to $4.3 billion and a net loss attributable to the company of $163.7 million, or $3.13 per diluted share, versus a $171.2 million loss in 2023. The company also reported record operating cash flow of $503.5 million and a record backlog of $18.7 billion, and guided to 2025 EPS of $1.50 to $1.90.
2024 revenue was $4.3 billion, up 12% from 2023, and the net loss attributable to the company narrowed from $171.2 million to $163.7 million.
Net cash provided by operating activities was $503.5 million in 2024, up 63%, and total debt was reduced by $477 million, or 52%, since the end of 2023.
Backlog reached $18.7 billion as of December 31, 2024, up 84% from $10.2 billion a year earlier.
For 2025, the company expects double-digit revenue growth and EPS of $1.50 to $1.90.
Tutor Perini appointed its President, Gary Smalley, as Chief Executive Officer effective January 1, 2025, succeeding Ronald N. Tutor, who became Executive Chairman of the Board. Smalley also joined the Board, which expanded from nine to ten members. The change follows a succession plan the company first announced in November 2023, and the filing contains no financial results.
Gary G. Smalley became CEO effective January 1, 2025, after serving as President since November 2023.
Ronald N. Tutor moved to Executive Chairman, a role the release says he will hold through 2026.
The Board increased from nine to ten members to seat Smalley, who plans to stand for election at the 2025 Annual Meeting.
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