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

Granite Construction Incorporated

02/05/2024 18:22

* Granite Construction Inc  GVA.N  reported a quarterly
adjusted
loss of 70 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of -41 cents.  The mean expectation of four analysts for the
quarter was for a loss of 35 cents per share. Wall Street
expected results to range from -54 cents to -12 cents per share.
    * Revenue rose 20% to $672.28 million from a year ago;
analysts
expected $666.51 million. 
    * The company reported a quarterly loss of $30.98 million.
    * Granite Construction Inc shares had fallen by 3.7% this
quarter and gained 8.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 65.7%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

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." 
    * Wall Street's median 12-month price target for Granite
Construction Inc is $64.00 

This summary was machine generated from LSEG data May 2 at 05:22
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
 Mar. 31 2024      -0.35          -0.70          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