Granite(US:GVA)2019-10-25 14:29Financial Performance - Q3 2019 revenue reached $1088 million[10], compared to $1056 million in Q3 2018[10] - Gross profit for Q3 2019 was $91 million[10], with a gross profit margin of 8% of revenue[11] - SG&A expenses for Q3 2019 were $73 million[10], representing 7% of revenue[11] - Transportation revenue in Q3 2019 was $599 million[13], a 2% increase compared to Q3 2018[13] - Water revenue in Q3 2019 was $136 million[13], a 10% increase compared to Q3 2018[13] - Specialty revenue in Q3 2019 was $224 million[13], a 17% increase compared to Q3 2018[13] - Materials revenue in Q3 2019 was $129 million[13], a -9% decrease compared to Q3 2018[13] Strategic Outlook - The company is targeting no more than 15% of company revenue for heavy civil projects[7] - Preliminary 2020 outlook includes mid-single-digit consolidated revenue growth[15] - Adjusted EBITDA margin is expected to be between 65% and 85% in 2020[15] Project Awards - Committed and Awarded Projects (CAP) including contract backlog reached $47 billion in Q3 2019[11]