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Dec 31, 2022
Granite Q4 2022 Earnings Report
Reported improved adjusted EBITDA margin and highest quality CAP portfolio.
Key Takeaways
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.
Implemented 2024 strategic plan focused on sustainable growth and increased profit margins.
Focused on higher margin, less risky work in home markets.
Achieved improved adjusted EBITDA margin in 2022.
Attained highest quality CAP portfolio in recent history.
Forward Guidance
In 2023, we expect continued progress with revenue growth and improvement in adjusted EBITDA margin in line with our 2024 strategic plan targets.
Positive Outlook
- Continued progress with revenue growth.
- Improvement in adjusted EBITDA margin in line with our 2024 strategic plan targets.
- High quality CAP.
- Strong market environment will support revenue growth.
- Increased profitability in 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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