secwatch.observer — SEC 8-K summary
======================================

Issuer:     GRANITE CONSTRUCTION INC (GVA)
CIK:        0000861459
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0000861459-23-000014
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Granite Construction Q2 net loss $17M on $51M bond charge; adjusted EPS $1.03 vs $0.76; CAP record $5.4B
--------------------------------------------------------------------------------

- Q2 GAAP net loss $17M ($0.39 loss per share) included $51M non-cash bond charge and $12M litigation charge.
- Adjusted net income $46M, adjusted diluted EPS $1.03 (vs $0.76); revenue up $50M to $899M.
- Record CAP of $5.4B, up $1.2B YoY and $334M sequentially; California group led with $2.35B.
- I-64 High Rise Bridge project reduced Q2 gross profit by $21M ($10M after non-controlling interest); completion expected early Q4.
- FY 2023 guidance: revenue $3.35-3.45B, adj. EBITDA margin 7.5-8.5%, capex $100-120M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861459/000086145923000014/0000861459-23-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861459/000086145923000014/gva-20230727.htm
  HTML page:      https://secwatch.observer/filing/0000861459-23-000014

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer