secwatch.observer — SEC 8-K summary
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Issuer:     GRANITE CONSTRUCTION INC (GVA)
CIK:        0000861459
Form:       8-K
Filed at:   2022-07-28T23:59:59+00:00
Accession:  0001437749-22-017936
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Granite Q2 net loss of $2M; cuts adjusted EBITDA margin guidance to 5.5-6.5%
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- Q2 net loss $2M ($0.05/sh) vs net income $25M ($0.52) a year ago.
- Revenue $768M, down $67M YoY; gross margin 10.2% vs 11.8%; ORP gross loss $21M on $49M revenue.
- Adjusted net income $17M ($0.38) vs $30M ($0.66); adj. EBITDA $39M vs $62M.
- CAP up $279M sequentially to $4.2B; materials revenue +12% but margin fell to 12.7% from 18.1%.
- FY2022 adj. EBITDA margin guidance cut to 5.5-6.5% from 6-8%; $12M accrued for SEC resolution.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861459/000143774922017936/0001437749-22-017936-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861459/000143774922017936/gva20220504_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-017936

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