As the Q1 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the construction and maintenance services industry, including Tutor Perini (NYSE: TPC) and its peers.

Construction and maintenance services companies not only boast technical know-how in specialized areas but also may hold special licenses and permits. Those who work in more regulated areas can enjoy more predictable revenue streams - for example, fire escapes need to be inspected every five years. More recently, services to address energy efficiency and labor availability are also creating incremental demand. But like the broader industrials sector, construction and maintenance services companies are at the whim of economic cycles as external factors like interest rates can greatly impact the new construction that drives incremental demand for these companies’ offerings.

The 13 construction and maintenance services stocks we track reported a very strong Q1. As a group, revenues beat analysts’ consensus estimates by 5.2%.

Luckily, construction and maintenance services stocks have performed well with share prices up 31.2% on average since the latest earnings results.

Tutor Perini (NYSE: TPC)

Known for constructing the Philadelphia Eagles’ Stadium, Tutor Perini (NYSE: TPC) is a civil and building construction company offering diversified general contracting and design-build services.

Tutor Perini reported revenues of $1.25 billion, up 18.8% year on year. This print exceeded analysts’ expectations by 16.7%. Overall, it was an incredible quarter for the company with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Interestingly, the stock is up 101% since reporting and currently trades at $47.46.

Is now the time to buy Tutor Perini? Access our full analysis of the earnings results here, it’s free.

Great Lakes Dredge & Dock (NASDAQ: GLDD)

Founded as Lydon & Drews dredging company, Great Lakes Dredge & Dock (NASDAQ: GLDD) provides dredging services, land reclamation, and coastal protection projects in the United States and internationally.

Great Lakes Dredge & Dock reported revenues of $242.9 million, up 22.3% year on year, outperforming analysts’ expectations by 17.5%. The business had an incredible quarter with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

Great Lakes Dredge & Dock achieved the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 29.4% since reporting. It currently trades at $12.35.

Is now the time to buy Great Lakes Dredge & Dock? Access our full analysis of the earnings results here, it’s free.

Weakest Q1: Concrete Pumping (NASDAQ: BBCP)

Going public via SPAC in 2018, Concrete Pumping (NASDAQ: BBCP) is a provider of concrete pumping and waste management services in the United States and the United Kingdom.

Concrete Pumping reported revenues of $93.96 million, down 12.2% year on year, falling short of analysts’ expectations by 4%. It was a disappointing quarter as it posted full-year revenue guidance missing analysts’ expectations.

Concrete Pumping delivered the slowest revenue growth in the group. As expected, the stock is down 8.8% since the results and currently trades at $6.45.

Read our full analysis of Concrete Pumping’s results here.

Primoris (NYSE: PRIM)

Listed on the NASDAQ in 2008, Primoris (NYSE: PRIM) builds, maintains, and upgrades infrastructure in the utility, energy, and civil construction industries.

Primoris reported revenues of $1.65 billion, up 16.7% year on year. This number surpassed analysts’ expectations by 10.6%. Overall, it was a stunning quarter as it also recorded an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

The stock is up 22.5% since reporting and currently trades at $82.10.

Read our full, actionable report on Primoris here, it’s free.

APi (NYSE: APG)

Started in 1926 as an insulation contractor, APi (NYSE: APG) provides life safety solutions and specialty services for buildings and infrastructure.

APi reported revenues of $1.72 billion, up 7.4% year on year. This result beat analysts’ expectations by 4.7%. It was an exceptional quarter as it also produced a solid beat of analysts’ organic revenue and EPS estimates.

The stock is up 33.4% since reporting and currently trades at $33.60.

Read our full, actionable report on APi here, it’s free.

Market Update

Thanks to the Fed’s rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn’t send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump’s November win lit a fire under major indices and sent them to all-time highs. However, there’s still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy.

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