U.S. Markets open in 2 hrs 8 mins

Tutor Perini meets 4Q profit forecasts

SYLMAR, Calif. (AP) _ Tutor Perini Corp. (TPC) on Thursday reported fourth-quarter profit of $30.3 million.

On a per-share basis, the Sylmar, California-based company said it had profit of 60 cents.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 60 cents per share.

The construction company posted revenue of $1.25 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $1.35 billion.

For the year, the company reported profit of $95.8 million, or $1.92 per share. Revenue was reported as $4.97 billion.

Tutor Perini expects full-year earnings to be $2.10 to $2.40 per share.

Tutor Perini shares have declined 2 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $27.45, more than doubling in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TPC at https://www.zacks.com/ap/TPC

_____

Keywords: Tutor Perini, Earnings Report