Granite Construction (GVA) Misses Q2 EPS by 38c, Miss on Revenues
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Granite Reports Second Quarter 2018 Results
August 8, 2018 6:55 AM EDTRevenue increased to $807.1 million, up 5.8 percent year-over-year Company gross profit up 7.8 percent year-over-year to $80.4 million Company gross profit margin of 10.0 percent, up about 20 basis points year-over-year All segments deliver year-over-year margin improvement; Construction Materials segment leads the way with gross profit up 32.6 percent year-over-year Company backlog1 of $3.65 billion down 10.1 percent year-over-year; post-Q2 project wins total more than $875 million Net loss of $8.4 million; adjusted2 net income of $17.9 million, up 26.4 percent year-over-year Adjusted EBITDA3 increased to $50.9 million, up... More
