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Dec 31, 2023
Granite Q4 2023 Earnings Report
Reported an increase in revenue and adjusted EPS, driven by strong performance in the Construction and Materials segments.
Key Takeaways
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.
Q4 revenue increased 18% year-over-year to $934 million.
Q4 diluted EPS was $0.55, and adjusted diluted EPS was $0.82.
Operating cash flow increased $150 million sequentially.
Committed and Awarded Projects (CAP) reached $5.5 billion, a year-over-year increase of $1.1 billion.
Granite
Granite
Forward Guidance
Granite Construction anticipates significant revenue growth and profitability improvements in 2024.
Positive Outlook
- Revenue in the range of $3.8 billion to $4.0 billion
- Adjusted EBITDA margin in the range of 9.0% to 11.0%
- SG&A expense in the range of 7.5% to 8.0% of revenue
- Mid-20s effective tax rate for adjusted net income
- Capital expenditures of approximately $130 million to $150 million