Granite Reports Third Quarter 2019 Results
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Granite Construction (GVA) Misses Q3 EPS by 86c, Revenues Miss
October 25, 2019 6:59 AM EDTGranite Construction (NYSE: GVA) reported Q3 EPS of $0.58, $0.86 worse than the analyst estimate of $1.44. Revenue for the quarter came in at $1.09 billion versus the consensus estimate of $1.17 billion.
Highlights
Third Quarter Results
Record quarterly revenue of $1.1 billion, up 3.1 percent year-over-yearNet income of $20.5 million; adjusted net income of $27.5 million1Strong core operational results impacted by Heavy Civil operating group performanceStrategic review of Heavy Civil operating group completeCommitted and Awarded Projects2 (CAP) totaled $4.7 billion, up 44.5 percent year-over-yearDuring the third quarter, strong core operational performance was dampened... More
