Granite Construction's Materials Revenue Increases 27.5 Percent

摘要

Granite Construction reported a net loss of $8.4 million for the quarter ended June 30, compared to a net income of $14.1 million in the prior-year period. Second quarter 2018 results include acquisition expenses of Layne Christensen Co. and LiquiForce. Excluding the impact of these expenses, second quarter adjusted net income was $17.9 million, or $0.43 per diluted share, a 22.9 percent increase from 2017. 1. Construction Materials revenue increased 27.5 percent to $100.9 million. 2. Gross profit of $17.5 million improved 32.6 percent from $13.2 million. 3. Gross profit margin improved nearly 70 basis points to 17.3 percent. 4. The gross profit and margin improvement was attributable primarily to improved external demand across most markets.