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News Breaks
May 7, 2014
07:32 EDTTPCTutor Perini reports Q1 EPS 33c, consensus 21c
Reports Q1 revenue $955.2M, consensus $1.05B. Reports Q1 backlog of $7.7B, up 38% compared to $5.5B last year. The company said, "Revenue decreased 3.8% in Q1 due primarily to decreased activity on hospitality and gaming projects in California, Arizona, Nevada, and Louisiana, which was partially offset by the ramp-up of civil and building projects at Hudson Yards in New York and a rail transportation project in California. Inclement weather in Q1 also contributed to the decreased revenue, as it impacted several projects in the northeastern U.S. The increase in net income in Q1 was due primarily to an overall increase in volume in our Civil segment, which was partially offset by Hurricane Sandy-related projects performed in 1Q13."
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