Granite Earnings Reports

Granite Construction reported a strong Q4 with revenue growth driven by acquisitions and favorable market conditions. Net income increased significantly, and the company saw margin expansion across segments.

Granite Construction reported a 14% increase in revenue to $1.3 billion and diluted EPS of $1.57, with adjusted diluted EPS of $2.05. The company's CAP reached a record $5.6 billion, driven by strong public and private markets. They anticipate significantly exceeding their target of 7% of revenue for the year in operating cash flow.

Granite Construction Incorporated announced record second quarter revenue, increasing 20% year-over-year to $1.1 billion. The company reported diluted EPS of $0.76 and adjusted diluted EPS of $1.73. They also entered into an agreement to acquire Dickerson & Bowen, Inc.

Granite Construction Incorporated reported a strong start to 2024, with a 20% increase in revenue to $672 million and a significant improvement in operating cash flow, which increased by $101 million year-over-year to $24 million. The company reorganized its operations to align leadership with the construction and materials segments, aiming to leverage expertise and drive growth.

Granite Construction reported an 18% year-over-year increase in Q4 revenue to $934 million. The company's diluted EPS was $0.55, with an adjusted diluted EPS of $0.82. The Committed and Awarded Projects (CAP) reached $5.5 billion, marking a year-over-year increase of $1.1 billion.

Granite Construction Incorporated announced Q3 2023 results with an 11% increase in revenue to $1.1 billion and adjusted diluted EPS of $1.69. The company also reported a record Committed and Awarded Projects (CAP) of $5.6 billion.

Granite reported a $50 million increase in revenue to $899 million compared to the previous year. However, the company experienced a net loss of $17 million, primarily due to a $51 million non-cash charge related to refinancing convertible bonds and a $12 million litigation charge. Adjusted net income was $46 million, or $1.03 per diluted share.

Granite Construction reported a net loss of $23 million for Q1 2023, compared to a net loss of $27 million in the same period last year. The company's CAP reached a record $5.1 billion, a 30% increase year-over-year, despite weather-related disruptions. Two bolt-on materials acquisitions were completed to support home markets.

Granite Construction Incorporated announced its Q4 and Fiscal Year 2022 results, with net income totaling $22 million, or $0.46 per diluted share, compared to a net loss of $13 million, or $(0.29) per diluted share, in the same period of the prior year. Adjusted EBITDA in the fourth quarter of 2022 totaled $50 million, compared to $32 million in the same period of the prior year.

Granite Construction Incorporated announced third-quarter results with net income totaling $73 million, or $1.44 per diluted share. The company is raising its full-year 2022 adjusted EBITDA margin guidance to 6% to 7%.

Granite Construction Incorporated reported a net loss of $(2) million, or $(0.05) per diluted share, for the quarter ended June 30, 2022. The results were impacted by additional costs in the Old Risk Portfolio (ORP). However, the core business is getting stronger, with improved gross profit margins excluding the ORP and higher quality CAP in mix and margin.

Granite Construction reported a net loss from continuing operations of ($19) million, or ($0.42) per diluted share, compared to a net loss of ($63) million in the prior year. The company is focused on executing its strategic plan, including divestitures and share repurchases, to drive increased profitability.

Granite Construction Incorporated reported a net loss for the fourth quarter of 2021, impacted by challenges in its Old Risk Portfolio and adverse weather conditions. However, the company highlighted progress in its strategic initiatives, including the planned divestiture of the Water and Minerals Services Group and a focus on civil construction and materials business.

Granite Construction Incorporated announced its Q3 2021 results, with net income increasing to $35.0 million, or $0.73 per diluted share. The company is focused on project execution and growing high-quality CAP in its vertically-integrated California and Northwest Operating Groups.

Granite Construction reported a net income increase to $54.5 million, or $1.14 per diluted share, compared to net income of $3.4 million, or $0.07 per diluted share, year-over-year. Adjusted diluted net income per share was $0.91 and adjusted EBITDA was $79.9 million, propelled by strong results from vertically-integrated businesses in the California and Northwest Operating Groups.

Granite reported a net loss of $66.2 million, or $1.45 per diluted share, for Q1 2021, which was comparable to the prior year. However, the company saw improvement in the Transportation and Specialty segments, and the balance sheet remained strong.

Granite Construction Incorporated announced its Q4 2020 results, which included a net income of $8.0 million, or $0.17 per diluted share, compared to a net loss of ($19.4) million in the prior year. The Transportation segment saw increased revenue, particularly in California, while the Water segment remained flat but experienced increased gross profit due to the absence of project write-downs. The Specialty segment also saw revenue growth, and the Materials segment experienced increased revenue and gross profit due to strong sales volumes.

Granite Construction Incorporated reported a revenue increase of $56.9 million to $2.6 billion year-over-year and a gross profit margin increase to 9.1%. The company ended the third quarter with Committed and Awarded Projects (CAP) of $4.2 billion, up sequentially, including $1.4 billion of best-value procurement work.

Granite ended the year with cash and marketable securities of $295.1 million. The company's CAP is expected to total $4.4 billion. An investigation of prior-period reporting for the Heavy Civil Operating Group is underway, delaying the Form 10-K filing.