Every material Form 8-K Tutor Perini filed with the SEC in 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 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.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Tutor Perini filing is on SEC EDGAR ↗. 8-K briefs of other companies →