Tutor Perini (TPC) FY2020 results: revenue $5.3 billion, up 19.5% on the year
Tutor Perini Corp. (TPC) reported revenue of $5.3 billion for fiscal 2020, the year ended 31 December 2020, up 19.5% on the year before. Net income was $108 million, and diluted earnings per share $2.12. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$5.3 billion
+19.5% on the year
FY2016FY2020
Operating margin
4.9%
-8.2% a year earlier
FY2016FY2020
Net income
$108 million
FY2016FY2020
Diluted EPS
$2.12
FY2016FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
5,319
4,451
4,455
+19.5%
Cost of revenue
4,833
4,209
4,000
+14.8%
Gross profit
486
242
454
+101.1%
Gross margin
9.1%
5.4%
10.2%
Operating income
262
-365
192
Operating margin
4.9%
-8.2%
4.3%
Interest expense
76.2
67.5
63.5
+12.9%
Pre-tax income
174
-426
133
Income tax
21.9
-65.6
34.8
Effective tax rate
12.6%
n/a
26.3%
Net income
108
-388
83.4
Net margin
2.0%
-8.7%
1.9%
Diluted EPS
$2.12
-$7.72
$1.66
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
173
137
21.4
+26.5%
Capital expenditure
54.8
84.2
77.1
-34.9%
Free cash flow
118
52.3
-55.7
+125.5%
Free cash flow margin
2.2%
1.2%
-1.2%
Cash from investing
-46.4
-76.1
-70.2
Cash from financing
123
21.8
-29.0
+466.7%
Depreciation and amortisation
107
65.0
47.3
+64.6%
Share-based compensation
11.8
19.1
22.8
-38.2%
Diluted shares, weighted
51m
50m
50m
+1.7%
Shares outstanding at period end
51m
50m
50m
+1.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,554
1,440
1,809
+7.9%
Non-controlling interest
-10.9
-9.6
-21.3
Debt
1,025
834
762
+22.9%
Operating lease liabilities
51.3
31.9
n/a
+60.9%
Other liabilities
2,426
2,189
1,838
+10.8%
Total liabilities and equity
5,046
4,486
4,388
+12.5%
Fixed assets
489
510
491
-4.0%
Goodwill
205
205
585
0.0%
Intangible assets
123
155
85.9
-20.7%
Cash and equivalents
374
194
116
+93.2%
Receivables
1,415
1,355
1,261
+4.5%
Other assets
2,439
2,067
1,849
+18.0%
Total assets
5,046
4,486
4,388
+12.5%
10-K for the year ended 31 December 2020, filed 24 February 2021: the filing.