secwatch.observer — SEC 8-K summary
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Issuer:     GRANITE CONSTRUCTION INC (GVA)
CIK:        0000861459
Form:       8-K
Filed at:   2022-04-28T23:59:59+00:00
Accession:  0001437749-22-009966
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Granite Construction Q1 net loss ($0.42) per share; revenue down 3.3% YoY
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861459/000143774922009966/0001437749-22-009966-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861459/000143774922009966/gva20220302_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-009966

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