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

Granite Construction Incorporated

01/08/2024 17:31

* Granite Construction Inc  GVA.N  reported quarterly
adjusted
earnings of 97 cents​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of $1.03.  The mean expectation of four analysts for the
quarter was for earnings of $1.39 per share. Wall Street
expected results to range from $1.32  to $1.45 per share.
    * Revenue rose 20.5% to $1.08 billion from a year ago;
analysts
expected $1.01 billion. 
    * Granite Construction Inc's reported EPS for the quarter
was 70
cents​.
    * The company reported quarterly net income of $36.9
million.
    * Granite Construction Inc shares had risen by 10.5% this
quarter and gained 34.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2.1%
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 $69.00 
This summary was machine generated from LSEG data August 1 at
04:30 p.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
 Jun. 30 2024      1.39           0.97           Missed
 Mar. 31 2024      -0.35          -0.21          Beat
 Dec. 31 2023      0.88           0.82           Missed
 Sep. 30 2023      1.45           1.69           Beat