---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-011988"
form_type: "8-K"
ticker: "GVA"
cik: "0000861459"
company_name: "GRANITE CONSTRUCTION INC"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T04:19:48.005454+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Granite Construction Q1 net loss $23M; record backlog $5.1B; reaffirms FY2023 guidance

## Summary
- Net loss of $23M ($0.53 diluted EPS); adjusted diluted EPS loss of $0.41.
- Revenue fell $94M to $560M, down 14% YoY; gross profit margin declined to 7.3% in Construction segment.
- Record CAP (committed and awarded projects) of $5.1B, up $1.2B YoY; all regions contributed.
- Weather disruptions impacted operations; two bolt-on materials acquisitions completed in Vancouver and Carson City.
- Reaffirmed 2023 outlook: revenue $3.4-3.6B, adjusted EBITDA margin 7.5-9.0%, SG&A 8.0-8.5% of revenue.

## SEC filing metadata
- accession: 0001437749-23-011988
- form_type: 8-K
- ticker: GVA
- cik: 0000861459
- company_name: GRANITE CONSTRUCTION INC
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/861459/000143774923011988/0001437749-23-011988-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/861459/000143774923011988/gva20230228_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-011988
- JSON: https://secwatch.observer/filing/0001437749-23-011988.json
- Plain text: https://secwatch.observer/filing/0001437749-23-011988.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.