Tutor Perini Withdraws EPS Guidance For 2024; Expects To Report Loss From Construction Operations And Negative EPS For Q3
Portfolio Pulse from Benzinga Newsdesk
Tutor Perini has withdrawn its EPS guidance for 2024, expecting a loss from construction operations and negative EPS for Q3. Despite this, the company anticipates strong operating cash flow for 2024, allowing for significant debt prepayments.
October 21, 2024 | 10:18 am
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NEGATIVE IMPACT
Tutor Perini has withdrawn its EPS guidance for 2024, expecting a loss from construction operations and negative EPS for Q3. However, the company anticipates strong operating cash flow, allowing for significant debt prepayments.
The withdrawal of EPS guidance and expected Q3 loss are negative indicators for Tutor Perini's short-term stock performance. However, the anticipated strong cash flow and debt prepayments could mitigate some negative sentiment. Overall, the immediate impact is likely negative due to the expected loss and guidance withdrawal.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100