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Sep 30, 2022
Granite Q3 2022 Earnings Report
Granite reported strong third-quarter results driven by improved profitability and a robust market environment.
Key Takeaways
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%.
Construction gross profit margin, excluding ORP, was 14.8%.
CAP (Committed and Awarded Projects) exceeded $4 billion.
The company is raising its full-year 2022 adjusted EBITDA margin guidance to 6% to 7%.
Mid-point of 2023 adjusted EBITDA margin guidance is expected to be at least 8%.
Revenue by Segment
Forward Guidance
For the 2022 fiscal year, revenue is updated to a range of $3.2 billion to $3.3 billion. The company raised adjusted EBITDA margin range of 6% - 7%.
Positive Outlook
- Revenue updated to a range of $3.2 billion to $3.3 billion
- SG&A expense unchanged in the range of 8.0% to 8.5% of revenue
- Adjusted effective tax rate range unchanged at low-to-mid-20s
- Adjusted EBITDA margin (2) range of 6% - 7%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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