Granite Construction Inc

GVA

Equity

ISIN US3873281071 / Valor 935575

New York Stock Exchange, Inc (2024-12-26)

USD 90.37-0.82%

Granite Construction Inc
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About company

Granite Construction Inc, known by its Valor number 935575, is a publicly traded company. The stock of the company is available through the stock provider New York Stock Exchange, Inc. As of 26.12.2024, the current price of the stock is USD 90.37. The latest price change for this stock is -0.82%, which reflects the market’s response to various factors such as company performance, industry trends, and global economic conditions. The company has been evaluated by users of Umushroom, and has received a rating of 0 stars.

Summarized from source with an LLMView SourceSector: Industrials

Revenue Growth

In the first quarter of 2024, Granite Construction Inc reported a significant revenue increase of 20% year-over-year, reaching $672 million. This growth was primarily driven by robust performance in the Construction and Materials segments, which saw increases of 18% and 36%, respectively.

Net Loss

Despite the revenue growth, Granite Construction Inc experienced a net loss of $31 million in Q1 2024, or $(0.70) per diluted share. This compares to a net loss of $23 million, or $(0.53) per diluted share, in the same quarter of the previous year. The adjusted net loss was $9 million, or $(0.21) per diluted share.

Operating Cash Flow

Granite Construction Inc's operating cash flow showed a notable improvement, increasing by $101 million year-over-year to $24 million in the first quarter of 2024. This enhancement in cash flow underscores the company's operational efficiency and stronger financial management compared to the first quarter of 2023.

Committed and Awarded Projects

The company's Committed and Awarded Projects (CAP) experienced a slight sequential decrease of $47 million but increased $395 million year-over-year to $5.5 billion. This growth indicates a strong backlog of projects that Granite Construction Inc expects to generate future revenues from.

Outlook for 2024

Granite Construction Inc maintains a positive outlook for 2024, with revenue projections ranging between $3.8 billion to $4.0 billion. The company has also adjusted its EBITDA margin guidance upwards from 9.0%-11.0% to 9.5%-11.5%, reflecting confidence in its operational capabilities and market conditions.

Summarized from source with an LLMView Source

Key figures

73.9%1Y

136%3Y

228%5Y

Performance

23.0%1Y

30.5%3Y

44.9%5Y

Volatility