secwatch.observer — SEC 8-K summary
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Issuer:     GRANITE CONSTRUCTION INC (GVA)
CIK:        0000861459
Form:       8-K
Filed at:   2023-02-16T23:59:59+00:00
Accession:  0001437749-23-003566
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Granite Construction restates Q1-Q3 2022; reports FY2022 EPS $1.70, guides FY2023 rev $3.4-3.6B
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- Non-reliance on Q1-Q3 2022 financials due to $12.3M deferred tax error from sale of trenchless business.
- Expects to report material weakness in disclosure controls and procedures in 10-K.
- FY2022 net income $83M ($1.70 diluted EPS); adjusted EPS $2.31; revenue $3.3B (down 6% YoY).
- Committed & Awarded Projects (CAP) $4.5B; California group record $1.7B.
- FY2023 guidance: revenue $3.4-3.6B, adjusted EBITDA margin 7.5%-9%, capex $100-120M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861459/000143774923003566/0001437749-23-003566-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861459/000143774923003566/gva20221104_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-003566

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