GRANITE CONSTRUCTION INC
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
GVA$124.92+3.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(dollars in thousands, except share and per share data)
| Years Ended December 31, | 2023 | 2022 | 2021 |
|---|---|---|---|
| Revenue | |||
| Construction | $2,992,254 | $2,803,935 | $3,076,190 |
| Materials | 516,884 | 497,321 | 425,675 |
| Total revenue | 3,509,138 | 3,301,256 | 3,501,865 |
| Cost of revenue | |||
| Construction | 2,667,199 | 2,500,054 | 2,772,962 |
| Materials | 445,540 | 431,708 | 366,258 |
| Total cost of revenue | 3,112,739 | 2,931,762 | 3,139,220 |
| Gross profit | 396,399 | 369,494 | 362,645 |
| Selling, general and administrative expenses | 294,466 | 272,610 | 303,015 |
| Other costs, net (see Note 1) | 50,217 | 24,120 | 101,351 |
| Gain on sales of property and equipment, net | (28,346) | (12,617) | (66,439) |
| Operating income | 80,062 | 85,381 | 24,718 |
| Other (income) expense | |||
| Loss on debt extinguishment | 51,052 | — | — |
| Interest income | (17,538) | (6,528) | (1,176) |
| Interest expense | 18,462 | 12,624 | 20,739 |
| Equity in income of affiliates, net | (25,748) | (13,571) | (12,586) |
| Other (income) expense, net | (6,020) | 1,039 | (4,386) |
| Total other (income) expense, net | 20,208 | (6,436) | 2,591 |
| Income before income taxes | 59,854 | 91,817 | 22,127 |
| Provision for income taxes | 30,267 | 12,960 | 19,713 |
| Net income | 29,587 | 78,857 | 2,414 |
| Amount attributable to non-controlling interests | 14,012 | 4,445 | 7,682 |
| Net income attributable to Granite Construction Incorporated | $43,599 | $83,302 | $10,096 |
| Net income per share attributable to common shareholders (see Note 18): | |||
| Basic earnings per share | $0.99 | $1.87 | $0.22 |
| Diluted earnings per share | $0.97 | $1.70 | $0.21 |
| Weighted average shares outstanding: | |||
| Basic | 43,879 | 44,485 | 45,788 |
| Diluted | 52,565 | 52,326 | 47,599 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.