Tutor Perini surges back to profit as revenue climbs 31% in Q3

Tutor Perini is one of the largest general contractors in the US (Image: AdobeStock)

US contractor Tutor Perini has swung back to profit in the third quarter of 2025 as revenue surged 31% year-on-year to $1.42 billion.

The company said the performance was driven by strong project execution across all divisions and improved margins on newer, larger contracts.

The Los Angeles-based firm reported income from construction operations of $40.1 million for the quarter, a sharp turnaround from a loss of $106.8 million a year earlier.

Revenue growth was led by the civil and specialty contractors divisions, which posted year-on-year increases of 41% and 124% respectively. Tutor Perini said the gains reflected “continued strong operating performance and contributions from higher-margin projects,” alongside the absence of one-off charges that hit last year’s results.

“Tutor Perini’s third-quarter results were outstanding across all key metrics and demonstrate our continued business momentum and success in delivering solid operating performance, with healthy profit margins in the Civil and Building segments and a return to profitability in the Specialty Contractors segment,” said Gary Smalley, chief executive and president.

“We are benefiting from favourable macroeconomic tailwinds, which are driving strong market demand for construction services across all our segments. We remain focused on capitalising on a range of attractive bidding opportunities, which resulted in Tutor Perini securing $2 billion of new awards this quarter, increasing our backlog to a new record of $21.6 billion,” he added.