Tutor Perini revised earnings guidance for the full year of 2015. The company said it expects full year 2015 results to be 'significantly below' previous guidance based on project charges at its Five Star Electric unit and an adverse court decision related to a 2011 acquisition. The company now expects to report revenue of approximately $5.0 billion for 2015, the low end of previous guidance in a range of $5.0 to $5.5 billion and missing analyst estimates of $5.11 billion. GAAP EPS is expected in the range of $0.85 to $0.90, down from prior guidance of $1.90 to $2.10. The company said it has terminated or replaced management personnel within Five Star Electric based on the issues that impacted earnings. Earnings were also impacted by a loss on the Tower C concrete superstructure project in New York and delays on the Alaskan Way Viaduct project in Seattle.

The company also initiated guidance for 2016 and anticipates revenue in the range of $5.1 billion to $5.6 billion. Diluted GAAP EPS is expected in a range of $1.90 to $2.20.