Granite Q3 2020 Earnings Report
Key Takeaways
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.
Revenue increased $56.9 million to $2.6 billion year-over-year.
Gross profit margin increased to 9.1%, compared to 6.7% year-over-year.
Adjusted EBITDA was $126.7 million, compared to $63.3 million year-over-year.
Company ended the third quarter of 2020 with Committed and Awarded Projects (CAP) of $4.2 billion, up sequentially.
Granite
Granite
Forward Guidance
Although Granite suspended guidance for 2020, the Company expects to report fourth quarter 2020 results and 2021 guidance to the investment community by the end of March 2021.