Tutor Perini Corp. missed on Wall Street expectations on adjusted earnings but beat on revenue for the second quarter, the company announced Aug. 5.
The Sylmar construction firm reported adjusted net income of $18.7 million (37 cents a share) for the quarter ending June 30, compared to adjusted net income of $9 million (18 cents) in the same period a year earlier. Revenue increased by 13 percent to $1.3 billion.
Analysts on average expected earnings of 41 cents on revenue of $1.2 billion, according to Thomson Financial Network.
Chief Executive Ron Tutor said the company produced solid results during the quarter and did so despite impacts of the COVID-19 pandemic....