Granite Construction Expects 2024 Revenue Of $3.8B-$4B Vs. $3.85B Consensus; Sees Adjusted EBITDA Margin Of 9.0%-1.0%
Portfolio Pulse from Benzinga Newsdesk
Granite Construction projects its 2024 revenue to be between $3.8 billion and $4.0 billion, aligning closely with the consensus estimate of $3.85 billion. The company anticipates an adjusted EBITDA margin of 9.0% to 11.0%, SG&A expenses to be 7.5% to 8.0% of revenue, a mid-20s effective tax rate for adjusted net income, and capital expenditures of $130 million to $150 million.
February 22, 2024 | 11:58 am
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Granite Construction expects 2024 revenue to be between $3.8 billion and $4.0 billion, with an adjusted EBITDA margin of 9.0% to 11.0%. This guidance aligns closely with consensus estimates and indicates a positive outlook for the company's financial performance.
Granite Construction's guidance for 2024 suggests a strong financial performance with revenue projections in line with consensus estimates and a healthy adjusted EBITDA margin. This positive outlook is likely to instill confidence in investors, potentially leading to a short-term positive impact on the stock price.
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