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Why Tutor Perini Stock Soared 28% Today

TheMotleyFool

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Construction firm Tutor Perini (NYSE: TPC) reported its fiscal Q1 2020 earnings numbers Wednesday night, and as soon as trading resumed Thursday morning, the stock took off. As of 11:50 a.m. EDT today, shares of the construction company were up 28%, and rightly so.

Tutor Perini's numbers Wednesday night were fabulous, with sales of $1.3 billion coming in 30% ahead of expectations, and profits of $0.34 per diluted share more than five times what analysts had predicted -- the very definition of an earnings beat.

Image source: Getty Images.

Source Fool.com

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