Granite reports Q3 adjusted EPS $2.05, consensus $2.47

Reports Q3 revenue $1.3B, consensus $1.29B. “In the third quarter, we continued to build on our momentum with revenue growth and margin expansion,” said Kyle Larkin, Granite (GVA) President and Chief Executive Officer. “Revenue grew 14% year-over-year, resulting in another record quarter. The market continues to be robust, and we added to our CAP despite the third quarter being our highest revenue quarter. Our new business model is producing strong operating cash flow, and we expect to significantly exceed our target of 7% of revenue for the year.”