earnings
confidence high
sentiment positive
materiality 0.85
Granite Q2 net income $37M, adjusted EPS $1.73; to acquire Dickerson & Bowen
GRANITE CONSTRUCTION INC
2024-Q2 EPS reported
$0.13
revenue$1,754,761,000
- Q2 revenue $1.1B (+20% YoY); diluted EPS $0.76 vs $(0.39) loss prior year.
- Adjusted diluted EPS $1.73 vs $1.06; adjusted EBITDA $130M vs $81M.
- CAP $5.6B (+$77M sequentially); revenue guidance narrowed to $3.9B-$4.0B.
- Agreed to acquire Dickerson & Bowen (MS aggregates/asphalt); expected Q3 close.
- Acquisition adds 4 asphalt plants and 3 sand/gravel pits, expanding SE footprint.