Granite(US:GVA)2024-08-01 18:49Financial Performance - Q2 2024 total revenue reached $1082 million, a $184 million increase year-over-year[13] - Construction revenue in Q2 2024 was $918 million, up $169 million year-over-year[13] - Materials revenue in Q2 2024 was $165 million, a $15 million increase year-over-year[13] - Adjusted EBITDA margin increased by 290 bps year-over-year to 120%[13, 14] - The company anticipates revenue between $39 billion and $40 billion for FY 2024[16] CAP and Construction Segment - CAP reached $5576 million, a $139 million increase year-over-year[13, 9] - California CAP decreased sequentially by $86 million to $23 billion but increased $2 million year-over-year[9] - Construction revenue increased 22% year-over-year, led by California, Nevada, and Alaska[9] Materials Segment - The company is centralizing materials segment management functions[12] - The company is making strategic investments, including the acquisition of Dickerson and Bowen and a land lease in Southwest Washington[12] - The company saw cash gross profit margin expansion year-over-year in the materials segment[12] Acquisitions and Expansion - The company acquired Dickerson & Bowen, Inc, strengthening its Southeast platform[4, 5] - Memphis Stone and Gravel has rights to an estimated 82 million tons of reserves[1, 56]