Granite Construction (GVA) Tops Q4 EPS by 16c, Beats on Revenues; Offers FY18 Revenue Growth Outlook

Granite Construction (NYSE: GVA) reported Q4 EPS of $0.81, $0.16 better than the analyst estimate of $0.65. Revenue for the quarter came in at $801 million versus the consensus estimate of $753.88 million.

2017 Financial and Operational Highlights

Fourth Quarter

• Revenues $801.3 million – up 20.2 percent year-over year
• Gross profit $100.7 million – up 23.9 percent year-over-year
• Diluted earnings per share $0.811 – up 103 percent year-over-year

Outlook

"With voters and legislators making a concerted push for generational commitments to infrastructure investment at the state, regional, and local level, we are only now seeing the early benefits of the long-term public infrastructure funding commitments that were made last year,” Roberts continued.

"Granite teams are extremely well positioned to deliver steady growth and significantly improved profitability in 2018 and beyond. We continue to invest in opportunities for our people, leveraging their immense talents to create and sustain value from both year-end record backlog of $3.72 billion and significant, long-term growth opportunities across geographies and end markets," Roberts said.

The Company’s current expectations for 20183 are:

• High-single to low-double digit consolidated revenue growth
• Consolidated EBITDA margin2 of 7.0% to 8.0%

For earnings history and earnings-related data on Granite Construction (GVA) click here.

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