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

• Granite Construction Inc GVA.N reported quarterly adjusted earnings of $1.93​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 97 cents. The mean expectation of two analysts for the quarter was for earnings of $1.70 per share. Wall Street expected results to range from $1.62 to $1.77 per share.

• Revenue rose 4% to $1.13 billion from a year ago; analysts expected $1.16 billion.

• Granite Construction Inc's reported EPS for the quarter was $1.42​.

• The company reported quarterly net income of $71.7 million.

• Granite Construction Inc shares had fallen by 0.2% this quarter and gained 6.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 4.6% 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 "buy" and the breakdown of recommendations is 2 "strong buy" or "buy," no "hold" and no "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 $108.00, about 13.6% above its last closing price of $93.34

This summary was machine generated from LSEG data August 7 at 04:31 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)