Granite Construction's stock suffers record selloff after another earnings miss, downbeat outlook [MarketWatch]
Granite Construction Incorporated (GVA)
Last granite construction incorporated earnings: 10/25 06:55 am
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Source: MarketWatch
Granite Construction's stock suffers record selloff after another earnings miss, downbeat outlook Shares of Granite Construction Inc. GVA, -32.03% plunged 33% toward a 7-year low in morning trading, putting them on track for the biggest one-day selloff since the construction materials company went public in April 1990, after earnings missed expectations for a sixth-straight quarter. The stock was also the biggest decliner listed on major U.S. exchanges. Before the open, the Granite reported net income that fell to $20.5 million, or 43 cents a share, from $55.7 million, or $1.17 a share, in the year-ago period, well below the FactSet EPS consensus for a rise to $1.37. The company said ongoing disputes from the Heavy Civil business had a "distorted impact" on cash flow and earnings. Revenue rose 3.1% to $1.09 billion, but missed the FactSet consensus of $1.16 billion, as strength in water and specialty revenue was offset by weakness in transportation and materials revenue. The compan
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GVA
News
- Do Its Financials Have Any Role To Play In Driving Granite Construction Incorporated's (NYSE:GVA) Stock Up Recently? [Yahoo! Finance]Yahoo! Finance
- Granite Reports First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Granite Reports First Quarter 2024 ResultsBusiness Wire
- Clifford Chance taps Shearman, White & Case partners as UK law firms gain US ground [Reuters]Reuters
- Granite Publishes Annual Sustainability ReportBusiness Wire
GVA
Earnings
- 5/2/24 - Beat
GVA
Sec Filings
- 5/2/24 - Form 10-Q
- 5/2/24 - Form 8-K
- 4/25/24 - Form ARS
- GVA's page on the SEC website