Granite Construction Reaffirmed Its 2024 Revenue Outlook Of $3.9B-$4.0B Vs $4.012B Estimate; Sees Adjusted EBITDA Margin Of 10%-11%
Portfolio Pulse from Benzinga Newsdesk
Granite Construction has reaffirmed its 2024 revenue outlook at $3.9B-$4.0B, slightly below the $4.012B estimate. The company expects an adjusted EBITDA margin of 10%-11%, with SG&A expenses rising due to increased incentive compensation.
October 31, 2024 | 10:54 am
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Granite Construction reaffirmed its 2024 revenue outlook at $3.9B-$4.0B, slightly below the $4.012B estimate. The adjusted EBITDA margin is expected to be 10%-11%, with increased SG&A expenses due to higher incentive compensation.
The reaffirmation of the revenue outlook at $3.9B-$4.0B is slightly below the $4.012B estimate, which may cause a neutral to slightly negative sentiment. However, the adjusted EBITDA margin is within a healthy range of 10%-11%, which could offset some concerns. The increase in SG&A expenses due to higher incentive compensation might be seen as a negative, but it indicates investment in human resources. Overall, the news is mixed, leading to a neutral short-term impact.
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IMPORTANCE 80
RELEVANCE 100