Granite Construction Q2 Adj EPS $1.03 Beats $0.99 Estimate, Sales $898.55M Miss $924.09M Estimate
Portfolio Pulse from Benzinga Newsdesk
Granite Construction reported Q2 adjusted earnings of $1.03 per share, beating the analyst consensus estimate of $0.99 by 4.04%. This is a 171.05% increase from the same period last year. However, the company's quarterly sales of $898.55 million missed the analyst consensus estimate of $924.09 million by 2.76%, though it's a 16.96% increase from last year.
July 27, 2023 | 10:46 am
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Granite Construction's Q2 earnings beat estimates but sales missed. Earnings per share increased by 171.05% YoY, while sales increased by 16.96% YoY but fell short of estimates.
Granite Construction's earnings beat estimates, which is positive for the stock. However, the company's sales missed estimates, which is negative. The net effect could be neutral in the short term as investors weigh the positive earnings against the negative sales.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100