Granite Construction Inc reports results for the quarter ended in December - Earnings Summary

Granite Construction Incorporated

23/02/2024 03:02

* Granite Construction Inc  GVA.N  reported quarterly
adjusted
earnings of 82 cents​​ per share for the quarter ended in
December, higher than the same quarter last year, when the
company reported EPS of 56 cents.  The mean expectation of
four analysts for the quarter was for earnings of 88 cents per
share. Wall Street expected results to range from 77 cents
to $1.06 per share.
    * Revenue rose 18.3% to $933.70 million from a year ago;
analysts
expected $838.89 million. 
    * Granite Construction Inc's reported EPS for the quarter
was 55
cents​.
    * The company reported quarterly net income of $26 million.
    * Granite Construction Inc shares had fallen by 1.4% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.8%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," no
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the construction
&
engineering peer group is also "buy"

Wall Street's median 12-month price target for Granite
Construction Inc is $59.00 
This summary was machine generated from LSEG data February 23 at
03:02 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.88           0.82           Missed
 Sep. 30 2023      1.45           1.69           Beat
 Jun. 30 2023      0.99           1.03           Beat
 Mar. 31 2023      0.03           -0.41          Missed