Granite Reports Second Quarter 2019 Results
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Granite Construction (GVA) Misses Q2 EPS by 222c, Revenues Miss
August 2, 2019 6:57 AM EDTGranite Construction (NYSE: GVA) reported Q2 EPS of ($1.83), $2.22 worse than the analyst estimate of $0.39. Revenue for the quarter came in at $789.5 million versus the consensus estimate of $932.35 million.
Results impacted by previously announced non-cash after-tax charges of $106.7 million (before-tax $143.7 million) related to four legacy, unconsolidated Heavy Civil joint venture projects
Revenue was $789.5 million, including $114.2 million in revenue reduction due to charges
Strong June operational and financial performance following wet weather impacts through May
Committed and Awarded Projects1 (CAP) was a record $4.9 billion, up 33.4 percent year-over-year, up 8.9 percent sequentially
Public and private market demand remains... More
