Granite Reports First Quarter 2019 Results
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Granite Construction (GVA) Misses Q1 EPS by 39c, Revenues Miss
April 26, 2019 6:57 AM EDTGranite Construction (NYSE: GVA) reported Q1 EPS of ($0.57), $0.39 worse than the analyst estimate of ($0.18). Revenue for the quarter came in at $619.8 million versus the consensus estimate of $651.72 million.
First Quarter 2019 Consolidated Results
Revenue increased to $619.8 million, compared with $563.4 million last year.Gross profit decreased to $40.5 million, compared with $56.3 million last year.Selling, general & administrative (SG&A) expenses were $81.2 million, compared to $61.3 million last year. The increase is attributable primarily to businesses acquired by Granite in 2018, coupled with increases attributable to weather delays that moved operations employees from projects to office... More