earnings
confidence high
sentiment negative
materiality 0.65
Granite Construction Q1 net loss ($0.42) per share; revenue down 3.3% YoY
GRANITE CONSTRUCTION INC
2022-Q1 EPS reported
-$0.29
revenue$547,586,000
- Net loss from continuing ops $19M ($0.42/diluted); adjusted net loss $13M ($0.28/diluted).
- Revenue $548M, down 3.3% YoY; gross profit margin 9.1% vs 9.5% prior year.
- CAP $3.9B, down $237M YoY; California + Mountain groups up $394M offset by Central down $632M.
- Completed sale of Granite Inliner; used proceeds to pay down half of term loan and repurchased 611K shares.
- FY2022 guidance unchanged: low single-digit revenue growth, adjusted EBITDA margin 6-8%, capex $100-115M.