secwatch.observer — SEC 8-K summary
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Issuer:     GRANITE CONSTRUCTION INC (GVA)
CIK:        0000861459
Form:       8-K
Filed at:   2024-02-22T23:59:59+00:00
Accession:  0000861459-24-000003
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Granite Construction Q4 revenue up 18% to $934M; FY adj diluted EPS $3.14; 2024 revenue guidance $3.8-4.0B
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- Q4 adjusted diluted EPS of $0.82, up from $0.56 YoY; GAAP EPS $0.55 vs $0.46.
- FY 2023 GAAP net income $44M ($0.97 EPS) down from $83M ($1.70) due to $73M in legacy project charges (Tappan Zee, I-64).
- Committed & Awarded Projects (CAP) rose 24% YoY to $5.5B; operating cash flow 5.2% of revenue.
- 2024 guidance: revenue $3.8-4.0B, adjusted EBITDA margin 9-11%, capex $130-150M including $50M strategic materials investments.
- Acquired Lehman-Roberts & Memphis Stone & Gravel, adding 140M tons of reserves and expanding into Southeast.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861459/000086145924000003/0000861459-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861459/000086145924000003/gva-20240222.htm
  HTML page:      https://secwatch.observer/filing/0000861459-24-000003

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