Tutor Perini misses Street 3Q forecasts

SYLMAR, Calif. (AP) _ Tutor Perini Corp. (TPC) on Thursday reported third-quarter net income of $23.6 million.

On a per-share basis, the Sylmar, California-based company said it had profit of 47 cents.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.

The construction company posted revenue of $1.2 billion in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $1.5 billion.

Tutor Perini expects full-year earnings to be $1.75 to $1.90 per share, with revenue expected to be $5 billion.

Tutor Perini shares have fallen almost 10 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $25.30, an increase of 13 percent 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