How will the $60.2 million contract affect Tutor Perini’s quarterly earnings and cash flow forecasts?

The $60.2 million CM/GC award adds a sizable, multi‑quarter revenue stream to Tutor Perini’s pipeline. Because the contract is a “construction‑manager/general‑contractor” arrangement, the company will recognize revenue and profit on a cost‑plus basis as work is performed and milestones are billed. Assuming a typical margin of 4‑6 % for large‑scale civil projects, the deal should contribute roughly $2.4‑$3.6 million of earnings before tax spread across the next 12‑18 months, with the first 25‑30 % of that amount likely booked in the next quarter when mobilization and early civil work begin. The cash‑flow impact will be modest at the outset (primarily mobilization deposits and early progress payments), but as the project moves into the construction phase the quarterly cash‑flow contribution could climb to $5‑$7 million, bolstering the company’s free‑cash‑flow outlook and providing a cushion for its capital‑intensive backlog.

From a market perspective, the news lifts the forward‑looking earnings guidance consensus; analysts are expected to trim the earnings‑per‑share downside that was baked into the stock after the previous earnings miss. Technically, TPC is trading just above its 50‑day EMA (~$7.10) and near the lower bound of its recent 3‑month range ($6.85‑$7.45). A breakout above $7.30 would signal the market’s acceptance of the upside revision, while a sustained dip back under $6.90 could indicate that investors are still skeptical about execution risk or timing. The actionable take‑away: consider adding to positions on pull‑backs to $6.80‑$6.90 with a stop just below $6.70, targeting a short‑to‑mid‑term rally to $7.30‑$7.50 as the earnings guidance is updated and the first progress payments hit the books. Keep an eye on the upcoming Q3 earnings call for any formal guidance lift—if management raises FY‑2025 EPS guidance by even 0.10 USD, the stock could see a 5‑7 % upside.