Brokers Forecast Granite Construction Incorporated’s FY2024 Earnings
December 16, 2023
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Analysts are predicting Granite Construction ($NYSE:GVA) Incorporated’s FY2024 earnings based on the expectations of brokers. Granite Construction Incorporated is a publicly traded construction company that specializes in infrastructure development, heavy and civil construction, and construction materials production and sales. Investors and analysts alike have been closely monitoring Granite Construction Incorporated’s stock performance as they prepare for the company’s FY2024 earnings report.
Brokers have taken into account the company’s track record of success, as well as their current investments and growth plans, when forecasting its future earnings. With analysts expecting Granite Construction Incorporated to continue their strong performance, investors are looking forward to the company’s FY2024 earnings report.
Earnings
In the latest earning report of FY2023 Q3 ending September 30 2021, GRANITE CONSTRUCTION earned 1062.13M USD in total revenue and 35.04M USD in net income. Compared to the previous year, a 5.2% increase in total revenue was observed; however, the net income saw a 52.3% decrease. Over the last 3 years, GRANITE CONSTRUCTION’s total revenue has increased from 1062.13M USD to 1116.82M USD. Analysts suggest that the company needs to maintain its steady revenue growth as the forecasted earnings for FY2024 is dependent on it.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Granite Construction. More…
| Total Revenues | Net Income | Net Margin |
| 3.36k | 23.3 | 1.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Granite Construction. More…
| Operations | Investing | Financing |
| 104.48 | -114.14 | 46.71 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Granite Construction. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.58k | 1.57k | 21.75 |
Key Ratios Snapshot
Some of the financial key ratios for Granite Construction are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -1.4% | 6.6% | 1.8% |
| FCF Margin | ROE | ROA |
| -0.8% | 4.1% | 1.5% |
Market Price
On Friday, Granite Construction Incorporated (GRANITE) stock opened at $48.1 and closed at $48.4, up by 0.7% from prior closing price of 48.0. This comes as brokers forecast the company’s earnings for the upcoming fiscal year 2024. GRANITE is one of the largest construction materials and services companies in the United States providing a wide range of infrastructure-related services, including construction and repair of highways, streets and bridges, as well as airport infrastructure, water and wastewater systems, rail systems and other civil engineering projects. Investors are keeping a close watch on GRANITE’s performance in the coming year as they anticipate the company’s earnings forecast for FY2024. Live Quote…
Analysis
At GoodWhale, we analyze GRANITE CONSTRUCTION‘s financials to assess its health. Our Star Chart analysis shows that GRANITE CONSTRUCTION has a high health score of 8/10, indicating financials which are strong enough to sustain itself in times of crisis. Based on our classification of GRANITE CONSTRUCTION as a ‘Cheetah’, we conclude that it has achieved high revenue or earnings growth, but is considered less stable due to lower profitability. Investors who are looking for a higher risk/reward ratio may be interested in such companies. In terms of its financial profile, GRANITE CONSTRUCTION is strong in terms of its asset base, dividend yield and medium in terms of its growth and profitability. This makes it a relatively attractive option for investors looking for a balanced portfolio of investments. More…
Peers
The company has a long history of success and has completed many high-profile projects.
However, Granite Construction Inc is not the only construction company in the market and faces stiff competition from other companies such as IL&FS Engineering and Construction Co Ltd, PBA Infrastructure Ltd, and MBL Infrastructures Ltd.
– IL&FS Engineering and Construction Co Ltd ($BSE:532907)
IL&FS Engineering and Construction Co Ltd is an engineering and construction company that operates in the infrastructure sector in India. The company has a market cap of 2 billion as of 2022 and a return on equity of 7.54%. The company provides engineering, procurement, and construction services for a variety of infrastructure projects, including roads, bridges, tunnels, railways, and power plants.
– PBA Infrastructure Ltd ($BSE:532676)
PBA Infrastructure Ltd is an Australian engineering and infrastructure company. They have a market cap of 164.44M as of 2022 and a Return on Equity of 1.6%. PBA Infrastructure Ltd is involved in the design, construction, financing and operation of social and economic infrastructure assets.
– MBL Infrastructures Ltd ($BSE:533152)
MBL Infrastructures Ltd is an India-based engineering,procurement and construction (EPC) company. The Company is engaged in the business of civil construction, which includes roads, bridges, flyovers, buildings and irrigation. It also has a presence in the power sector. The Company’s segments include Construction and Power. Its Construction segment includes civil construction and other infrastructure development works. Its Power segment includes generation, transmission and distribution of power. The Company’s projects include National Highways, State Highways, Major District Roads, Rural Roads, City Roads, Bridges, Flyovers, Buildings, Water Supply and Sewerage Treatment Plants and Irrigation.
Summary
Granite Construction Incorporated is a construction company based in Watsonville, California. Analysts have set expectations for Granite Construction’s FY2024 earnings, which are expected to reflect growth from the company’s increased activity in the infrastructure and industrial sectors. Analysts are predicting that revenues will increase significantly for Granite Construction, along with increased profits and cash flow. Investors should also expect Granite Construction to focus on higher-margin projects in an effort to increase returns.
Additionally, Granite Construction is expected to remain active in mergers and acquisitions, as well as strategic partnerships, which should help to drive future growth. The company’s stock price should also remain strong, as long-term investors have confidence that Granite Construction will continue to deliver solid returns.
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