TPC - Tutor Perini to record pre-tax charge of ~$84M in Q1 co sees negative EPS as a result
2023-04-21 18:26:56 ET
- Tutor Perini ( NYSE: TPC ) on Friday said it expected to record an estimated non-cash, pre-tax charge to income from construction operations of about $84M in Q1.
- TPC said the charge was due to an unfavorable decision against the company from the U.S. Court of Appeals for the Second Circuit over a dispute regarding the renovation of a mixed-use transit facility owned by the Port Authority of New York and New Jersey.
- Dig into the details of the case in the company's regulatory filing .
- TPC also said as a result of the charge, it expects to report a loss from construction operations and negative EPS in Q1.
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Tutor Perini to record pre-tax charge of ~$84M in Q1, co sees negative EPS as a result