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Dec 31, 2024
Granite Q4 2024 Earnings Report
Key Takeaways
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
Granite
Forward Guidance
Granite expects continued revenue growth in FY25, supported by a strong project pipeline, market demand, and strategic acquisitions.
Positive Outlook
- Expected revenue growth to $4.2B-$4.4B in FY25
- Adjusted EBITDA margin projected at 11.0%-12.0%
- Strong bidding activity expected to add significant new projects
- Continued focus on margin expansion through cost efficiencies
- Well-positioned for M&A opportunities with strong cash reserves
Challenges Ahead
- Decline in CAP due to project completions
- Potential cost inflation impacting profitability
- Increased competition in bidding for new projects
- Higher stock-based compensation expenses in FY25
- Continued market uncertainties affecting private investment