Tutor Perini (TPC) FY2019 results: revenue $4.5 billion, down 0.1% on the year
Tutor Perini Corp. (TPC) reported revenue of $4.5 billion for fiscal 2019, the year ended 31 December 2019, down 0.1% on the year before. Net income was -$388 million, and diluted earnings per share $-7.72. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$4.5 billion
-0.1% on the year
FY2016FY2019
Operating margin
-8.2%
4.3% a year earlier
FY2016FY2019
Net income
-$388 million
FY2016FY2019
Diluted EPS
-$7.72
FY2016FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
4,451
4,455
4,757
-0.1%
Cost of revenue
4,209
4,000
4,303
+5.2%
Gross profit
242
454
454
-46.8%
Gross margin
5.4%
10.2%
9.6%
Operating income
-365
192
179
Operating margin
-8.2%
4.3%
3.8%
Interest expense
67.5
63.5
69.4
+6.3%
Pre-tax income
-426
133
154
Income tax
-65.6
34.8
-0.6
Effective tax rate
n/a
26.3%
-0.4%
Net income
-388
83.4
148
Net margin
-8.7%
1.9%
3.1%
Diluted EPS
-$7.72
$1.66
$2.92
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
137
21.4
164
+537.9%
Capital expenditure
84.2
77.1
30.3
+9.2%
Free cash flow
52.3
-55.7
133
Free cash flow margin
1.2%
-1.2%
2.8%
Cash from investing
-76.1
-70.2
-87.1
Cash from financing
21.8
-29.0
-75.4
Depreciation and amortisation
65.0
47.3
51.9
+37.6%
Share-based compensation
19.1
22.8
21.2
-16.0%
Diluted shares, weighted
50m
50m
51m
-0.2%
Shares outstanding at period end
50m
50m
50m
+0.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,440
1,809
1,713
-20.4%
Non-controlling interest
-9.6
-21.3
-8.5
Debt
834
762
736
+9.6%
Operating lease liabilities
31.9
n/a
n/a
Other liabilities
2,189
1,838
1,823
+19.1%
Total liabilities and equity
4,486
4,388
4,264
+2.2%
Fixed assets
510
491
467
+3.9%
Goodwill
205
585
585
-64.9%
Intangible assets
155
85.9
89.5
+80.7%
Securities held for sale or to maturity
n/a
n/a
59.6
Cash and equivalents
194
116
193
+66.9%
Receivables
1,355
1,261
1,266
+7.4%
Other assets
2,067
1,849
1,604
+11.8%
Total assets
4,486
4,388
4,264
+2.2%
10-K for the year ended 31 December 2019, filed 26 February 2020: the filing.