Granite Construction Incorporated (GVA) Financial Statements (2024 and earlier)

Company Profile

Business Address 585 WEST BEACH ST
WATSONVILLE, CA 95076
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 16 - Heavy Construction Other Than Building Construction Contractors (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments323,402239,427239,505333,365294,957220,022
Cash and cash equivalents292,124214,446199,751293,991255,084175,022
Short-term investments31,27824,98139,75439,37439,87345,000
Receivables743,091636,797397,231463,987618,144527,277
Inventory, net of allowances, customer advances and progress billings92,13192,15197,89386,80981,29678,634
Inventory92,13192,15197,89386,80981,29678,634
Contract with customer, asset, after allowance for credit loss282,280288,349288,146241,916241,238190,187
Disposal group, including discontinued operation      222,779
Other current assets47,47746,37641,39737,411157,231167,349
Other undisclosed current assets206,669188,093182,063183,808186,824187,028
Total current assets:1,695,0501,491,1931,246,2351,347,2961,579,6901,593,276
Noncurrent Assets
Operating lease, right-of-use asset56,87453,50943,88649,07949,59045,404
Property, plant and equipment569,722564,077531,457509,210500,827464,593
Long-term investments and receivables96,85198,18699,910107,294100,23844,878
Long-term investments96,85198,18699,910107,294100,23844,878
Intangible assets, net (including goodwill)74,26478,60373,70373,70373,70453,715
Goodwill74,26478,60373,70373,70373,70453,715
Intangible assets, net (excluding goodwill)      
Deferred income tax assets29,04331,30422,08022,20845,65025,458
Other noncurrent assets58,51759,70660,11659,14358,26564,008
Total noncurrent assets:885,271885,385831,152820,637828,274698,056
TOTAL ASSETS:2,580,3212,376,5782,077,3872,167,9332,407,9642,291,332
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:355,987310,022266,541288,469450,223435,061
Accrued liabilities266,705220,267176,303209,777146,533126,349
Other undisclosed accounts payable and accrued liabilities89,28289,75590,23878,692303,690308,712
Deferred revenue221,983173,288160,245173,286191,037179,322
Debt1,4751,4661,4561,4471,4381,429
Provision for loss on contracts16,69520,10718,54320,99220,52119,781
Asset retirement obligation   1,800  
Disposal group, including discontinued operation      46,706
Other undisclosed current liabilities460,336362,351276,582311,600377,764311,947
Total current liabilities:1,056,476867,234723,367797,5941,040,983994,246
Noncurrent Liabilities
Long-term debt and lease obligation403,785458,692287,000286,934319,573317,983
Long-term debt, excluding current maturities403,785458,692287,000286,934286,872286,801
Liabilities, other than long-term debt113,483109,20294,60998,26060,66461,868
Deferred income tax liabilities3,8124,5711,6781,89160,66461,868
Other liabilities67,47366,23464,99764,199  
Operating lease, liability42,19838,39727,93432,17032,70131,182
Total noncurrent liabilities:517,268567,894381,609385,194380,237379,851
Total liabilities:1,573,7441,435,1281,104,9761,182,7881,421,2201,374,097
Equity
Equity, attributable to parent955,348901,542925,457953,016951,123883,919
Common stock439439439437437441
Additional paid in capital472,379470,511471,782470,407468,662467,159
Accumulated other comprehensive income8947956537885352,388
Retained earnings481,636429,797452,583481,384481,489413,931
Equity, attributable to noncontrolling interest51,22939,90846,95432,12935,62133,316
Total equity:1,006,577941,450972,411985,145986,744917,235
TOTAL LIABILITIES AND EQUITY:2,580,3212,376,5782,077,3872,167,9332,407,9642,291,332

Income Statement (P&L) ($ in thousands)

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Revenues1,116,820898,552560,068787,0621,009,806768,286
Cost of revenue
(Cost of Goods and Services Sold)
(950,177)(795,466)(527,709)(695,593)(889,439)(689,806)
Gross profit:166,643103,08632,35991,469120,36778,480
Operating expenses(72,982)(60,619)(71,085)(78,419)(60,846)(52,777)
Other operating income (expense), net(19,843)(13,607)(4,523)(4,675)490(20,177)
Operating income (loss):73,81828,860(43,249)8,37560,0115,526
Nonoperating income (expense)6,101(43,682)8,0088,1832,789(5,930)
Investment income, nonoperating4,2933,2323,7623,2821,894782
Other nonoperating income (expense)(462)1,2251,9503,607(77)(3,357)
Interest and debt expense (4,877)(51,052)(2,891)(2,621)(2,519)(3,896)
Income (loss) from continuing operations before equity method investments, income taxes:75,042(65,874)(38,132)13,93760,281(4,300)
Other undisclosed income from continuing operations before income taxes 4,87751,0522,8912,6212,5193,896
Income (loss) from continuing operations before income taxes:79,919(14,822)(35,241)16,55862,800(404)
Income tax expense (benefit)(22,423)(9,024)9,469(13,737)6,489(2,549)
Income (loss) from continuing operations:57,496(23,846)(25,772)2,82169,289(2,953)
Income before gain (loss) on sale of properties:69,28916,568
Income from discontinued operations      19,521
Net income (loss):57,496(23,846)(25,772)2,82169,28916,568
Net income attributable to noncontrolling interest1286,8462,7492,8764,104 
Other undisclosed net income attributable to parent      583
Net income (loss) available to common stockholders, basic:57,624(17,000)(23,023)5,69773,39317,151
Interest on convertible debt   1,4721,473 
Dilutive securities, effect on basic earnings per share 3,209     
Other undisclosed net income available to common stockholders, diluted      
Net income (loss) available to common stockholders, diluted:60,833(17,000)(23,023)7,16974,86617,151

Comprehensive Income ($ in thousands)

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Net income (loss):57,496(23,846)(25,772)2,82169,28916,568
Other comprehensive income (loss)99142(135)253(1,853)815
Comprehensive income (loss):57,595(23,704)(25,907)3,07467,43617,383
Comprehensive income, net of tax, attributable to noncontrolling interest1286,8462,7492,8764,104583
Comprehensive income (loss), net of tax, attributable to parent:57,723(16,858)(23,158)5,95071,54017,966

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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