Granite Construction Inc. (GVA) reported that its first quarter of 2013 net loss attributable to the company widened to $22.0 million, or $0.57 per share, from $11.8 million, or $0.31 per share in the first quarter of 2012.
Revenues for the quarter totaled $378.7 million, compared with $310.2 million in 2012. Revenues included $63.7 million from Kenny Construction Company, which Granite acquired on December 31, 2012.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.21 per share on revenues of $353.93 million for the quarter. Analysts' estimates typically exclude special items.
For 2013, Construction segment revenues are expected to total $1.25 billion to $1.4 billion, with a corresponding gross profit margin of 8 percent to 10 percent. Large Project Construction segment revenues are expected to be in the range of $850 million to $1.05 billion, with a corresponding gross profit margin of 12 percent to 14 percent. Construction Materials revenues are expected to be $200 million to $230 million, with a corresponding gross profit margin of 6 percent to 9 percent.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.