Tutor Perini Corp. reported that its 2015 results would fall below expectations and that a big part is due to a loss on the contractor's work at the Hudson Yards development in New York City.
The Sylmar, Calif.-based company announced that its 2015 revenue will be $5 billion with diluted earnings per share of 85 cents to 90 cents. Previously, the company had estimated its revenue for the year to come in as high as $5.5 billion and earnings per share in the range of $1.90 to $2.10.