Granite Construction (GVA) Tops Q2 EPS by 40c, provides guidance

Granite Construction (NYSE: GVA) reported Q2 EPS of $1.73, $0.40 better than the analyst estimate of $1.33. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.01 billion.

GUIDANCE:

Granite Construction sees FY2024 revenue of $3.9-4 billion, versus the consensus of $3.9 billion. Adjusted EBITDA margin in the range of 9.5% to 11.5%.
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.

For earnings history and earnings-related data on Granite Construction (GVA) click here.

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