Granite Construction Inc reports results for the quarter ended in September 30 - Earnings Summary

Granite Construction Incorporated

01/11/2024 03:39

* Granite Construction Inc  GVA.N  reported quarterly
adjusted
earnings of $2.05​​ per share for the quarter ended September
30, higher than the same quarter last year, when the company
reported EPS of $1.69.  The mean expectation of three analysts
for the quarter was for earnings of $2.47 per share. Wall Street
expected results to range from $2.42  to $2.51 per share.
    * Revenue rose 14.2% to $1.28 billion from a year ago;
analysts
expected $1.29 billion. 
    * Granite Construction Inc's reported EPS for the quarter
was
$1.57​.
    * The company reported quarterly net income of $78.95
million.
    * Granite Construction Inc shares had risen by 3.5% this
quarter and gained 61.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 4.5%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," no
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the construction
&
engineering peer group is also "hold"

Wall Street's median 12-month price target for Granite
Construction Inc is 100.00 
This summary was machine generated from LSEG data November 1 at
03:39 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
 Sep. 30 2024      2.47           2.05           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