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.

Total Revenue

$977M

Previous year: $934M

+4.7%

EPS

$1.23

Previous year: $0.82

+50.0%

Gross Margin

15.4%

Previous year: 10.1%

+52.5%

Operating Margin

6.2%

Previous year: 3.21%

+93.1%

SG&A Expense

$84.5M

Previous year: $82M

+3.0%

Gross Profit

$151M

Previous year: $94.3M

+59.8%

Cash and Equivalents

$578M

Previous year: $454M

+27.5%

Granite Revenue

Granite EPS

Granite Revenue by Segment

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

Revenue & Expenses

Visualization of income flow from segment revenue to net income