Financial Performance - Total revenue was $560 million [22], with a negative adjusted EBITDA of $(9) million [22] resulting in an adjusted EBITDA margin of (1.6)% [22] - Adjusted net loss attributable to Granite Construction Incorporated was $(17.83) million [42], leading to an adjusted diluted loss per share of $(0.41) [34, 42] - Materials revenue was $57 million [22] CAP (Committed and Awarded Projects) - Total CAP reached a record of $5.1 billion [6, 44], up by $619 million sequentially, representing a 14% increase, and a 30% increase year-over-year [6] - California Group's CAP totaled $1.4 billion [14], a sequential increase of $364 million or 34%, and a year-over-year increase of 40% [14] - Mountain Group's CAP was $1.8 billion [29], up $89 million or 5% sequentially, and 22% year-over-year [29] - California Group's CAP was $1.9 billion [6], up $167 million or 10% sequentially, and 29% year-over-year [6] Segment Performance - Asphalt volumes decreased by 39% year-over-year [21] and aggregate volumes decreased by 21% year-over-year [21] in the materials segment due to inclement weather [21] Outlook - The company maintains its 2023 guidance with revenue expected to be between $3.4 billion and $3.6 billion [24], and an adjusted EBITDA margin between 7.5% and 9.0% [24, 36]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number 1-12911 Granite Construction Incorporated (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpo ...

Granite Construction Incorporated (NYSE:GVA) Q4 2022 Earnings Conference Call February 16, 2023 11:00 AM ET Company Participants Mike Barker - VP, IR Kyle Larkin - President and CEO Lisa Curtis - EVP and CFO Conference Call Participants Steven Ramsey - Thompson Research Group Brent Thielman - D.A. Davidson Brian Russo - Sidoti Operator Good morning. My name is Dave, and I will be your conference facilitator today. At this time, I would like to welcome everyone to the Granite Construction Investor Relations ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 1-12911 GRANITE CONSTRUCTION INCORPORATED State of Incorporation: I.R.S. Employer Identification Number: Delaware ...

Granite Construction Incorporated (NYSE:GVA) Q3 2022 Earnings Conference Call October 27, 2022 11:00 AM ET Company Participants Mike Barker - VP, IR Kyle Larkin - President and CEO Lisa Curtis - EVP and CFO Conference Call Participants Michael Dudas - Vertical Research Partners Steven Ramsey - Thompson Research Group Brian Russo - Sidoti John Ramirez - Ben Tillman Operator Good morning. My name is Ramon, and I will be your conference facilitator today. At this time, I would like to welcome everyone to the G ...

GRANITE® © 2022 Granite Construction. All Rights Reserved. Granite Construction Q2 2022 Earnings Presentation Safe Harbor 2 Any statements contained in this presentation that are not based on historical facts, including statements regarding future events, occurrences, circumstances, opportunities, targets, activities, performance, growth, demand, strategic goals, 2024 strategic themes and organizational goals, home market strategy, divestitures of the Water Resources and Mineral Services businesses, includi ...

Granite Construction Incorporated (NYSE:GVA) Q2 2022 Earnings Conference Call July 28, 2022 11:00 AM ET Company Participants Mike Barker - Vice President, Investor Relations Kyle Larkin - President and Chief Executive Officer Lisa Curtis - Executive Vice President and Chief Financial Officer Conference Call Participants Brian Russo - Sidoti Adam Beavis - Goldman Sachs John Ramirez - D.A. Davidson Operator Good morning. My name is Nick, and I will be your conference facilitator today. At this time, I would l ...

Granite Construction Incorporated (NYSE:GVA) Q1 2022 Earnings Conference Call April 28, 2022 11:00 AM ET Company Participants Mike Barker - VP, IR Kyle Larkin - President and Chief Executive Officer Lisa Curtis - Executive Vice President and Chief Financial Officer Conference Call Participants Steven Ramsey - Thompson Research Group Michael Dudas - Vertical Research Brian Russo - Sidoti Zane Karimi - D.A. Davidson Operator Good morning. My name is Betsy, and I will be your conference facilitator today. At t ...

Financial Data and Key Metrics Changes - For fiscal year 2021, revenues from continuing operations decreased by 4% year-over-year, while gross profit improved slightly, resulting in a gross profit margin of 10% [43][44] - Adjusted EBITDA from continuing operations for fiscal 2021 was $163 million with a margin of 5.4%, compared to $153 million and 4.9% in the prior year [51] - Operating cash flow for fiscal 2021 decreased to $22 million compared to $268 million in 2020, impacted by various factors including legal fees [53] Business Line Data and Key Metrics Changes - In the Construction segment, full-year revenue from continuing operations declined by $162 million year-over-year to $2.6 billion, primarily due to lower revenue in the Central and California Groups [44] - The Materials segment saw a revenue increase of 12% over the prior year, driven by higher volumes across operating groups, although gross profit margin declined from 17% to 14% [49][40] Market Data and Key Metrics Changes - The Infrastructure Investment and Jobs Act signed in November 2021 provides $550 billion in incremental funding over five years, which is expected to benefit various infrastructure projects [41] - The California market is seeing increased opportunities, with Caltrans lettings up year-over-year and an improving budget outlook due to SB1 [98] Company Strategy and Development Direction - The company announced a strategic plan focusing on core competencies in civil construction and materials, leading to the divestiture of non-core businesses [10][12] - The new strategic plan includes themes such as developing people, raising execution standards, growing market share, and maximizing Granite Value Add (GVA) [22][25] - The company plans to invest in technology and aggregate reserves to enhance its vertically integrated business model [62] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market outlook, anticipating low-single-digit revenue growth in 2022, with more significant impacts expected in 2023 and beyond due to federal funding [56][58] - The company expects to complete the majority of the ORP projects in 2022, which should lead to improved margins moving forward [59][66] Other Important Information - The company has increased its share repurchase program authorization to $300 million, reflecting a strong cash and liquidity position [20][55] - The ORP ended the year with remaining CAP of $319 million, with expectations to burn through this amount in 2022 [46][48] Q&A Session Summary Question: Rationale for selling water portfolio and expected capital from remaining businesses - Management indicated that the decision to divest the WMS businesses was based on a strategic focus on core competencies in civil construction and materials, with the amount from remaining businesses yet to be determined [72][73] Question: Expectations for EBITDA margins post-ORP - Management anticipates long-term EBITDA margins to trend towards 9% to 10% as the ORP is completed and focus shifts back to core operations [76] Question: SG&A expectations excluding ORP - Management expects SG&A to improve as the Central Group transforms and focuses on home markets, with a potential increase in efficiency [78] Question: Market competitiveness and CAP margin expectations - Management noted that the quality of CAP heading into 2022 is better than in previous years, with a shift towards less risky projects expected to improve margins [86][87] Question: Share repurchase program and liquidity management - Management confirmed a strong liquidity position with plans to balance share repurchases and debt paydown following the completion of divestitures [92][94]

Granite Construction Incorporated (NYSE:GVA) Q3 2021 Earnings Conference Call October 28, 2021 11:00 AM ET Company Participants Mike Barker - Vice President of Investor Relations Kyle Larkin - President & Chief Executive Officer Lisa Curtis - Executive Vice President & Chief Financial Officer Conference Call Participants Brent Thielman - D. A. Davidson Steven Ramsey - Thompson Research Group Michael Dudas - Vertical Research Adam Beavis - Goldman Sachs Operator Good morning. My name is Debbie and I will be ...