GRANITE CONSTRUCTION INC GVA Income Statement

Granite construction inc (GVA)

Income statement / Quarterly

Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenue
Real Estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16	4	121	-	38	2,354	2,663	13,262	986	3,622	2,421	1,643	2,761	1,844	7,008	981	534
Total revenue
1,088,110	789,540	619,801	892,325	1,055,591	807,119	563,379	801,274	957,126	762,913	468,400	666,681	803,905	604,579	439,452	630,162	751,376	569,242	420,249	589,789	719,764	585,870	379,847	598,097	739,752	550,348	378,704	504,780	728,482	539,615	310,160	539,548	728,578	484,674	256,731	417,228	670,850	454,204	220,683	720,284	461,075
Cost of revenue
Real Estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3	11	-	10	1,638	2,606	11,642	744	3,183	2,014	1,921	1,725	1,362	5,498	1,531	1,534
Total cost of revenue
996,678	841,944	579,323	784,276	911,100	726,750	507,096	700,567	842,596	688,343	443,274	585,431	696,231	531,378	400,207	529,538	655,293	505,042	381,320	520,563	653,072	503,455	358,439	556,434	683,892	500,752	348,646	447,972	627,383	487,699	285,224	460,422	634,685	439,718	226,743	371,011	594,695	404,506	214,969	614,627	377,180
Gross profit
91,432	-52,404	40,478	108,049	144,491	80,369	56,283	100,707	114,530	74,570	25,126	81,250	107,674	73,201	39,245	100,624	96,083	64,200	38,929	69,226	66,692	82,415	21,408	41,663	55,860	49,596	30,058	56,808	101,099	51,916	24,936	79,126	93,893	44,956	29,988	46,217	76,155	49,698	5,714	105,657	83,895
Selling, general and administrative expenses
73,424	69,998	81,155	79,439	70,769	61,316	61,252	57,674	49,501	51,388	61,837	60,267	54,194	48,705	56,133	60,006	45,262	47,526	51,023	45,525	47,386	51,098	49,247	42,383	45,527	46,789	57,161	57,923	41,280	40,806	45,090	41,025	39,112	38,793	43,372	37,784	47,160	51,357	55,292	60,950	56,319
Acquisition and integration expenses
2,744	9,177	3,323	16,015	9,334	26,287	8,409	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sales of property and equipment, net
7,101	4,935	1,900	2,606	3,018	1,505	543	1,352	1,753	807	270	5,994	398	1,366	600	6,196	804	475	811	9,081	3,004	2,993	894	4,478	3,259	3,306	1,087	20,954	1,622	2,954	1,917	-	5,598	3,270	2,704	2,331	3,165	3,800	4,452	1,549	2,808
Restructuring gains
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,826	0	0	-1,902	-	-	-	-	-	-	-	-	-	-
Operating income (loss)
22,365	-126,644	-42,100	15,201	67,406	-5,729	-12,835	44,385	66,782	23,989	-36,441	28,902	53,878	25,862	-16,288	52,817	51,625	17,149	-11,283	35,425	22,310	34,310	-26,945	-48,381	13,592	6,113	-26,016	21,665	61,441	14,064	-16,335	40,137	60,379	9,433	-10,680	-98,515	32,160	2,141	-45,126	46,256	30,384
Other (income) expense
Interest income
1,713	1,728	2,816	1,855	1,533	1,173	1,521	1,386	1,141	1,164	1,051	801	790	798	836	574	591	528	442	2,313	451	-413	-479	674	602	380	129	-4,766	485	611	1,044	583	476	575	1,244	833	2,110	1,098	939	744	1,109
Interest expense
4,839	4,158	4,014	4,481	4,452	3,203	2,435	2,703	2,660	2,694	2,743	3,096	3,034	3,187	3,049	3,291	3,485	3,985	3,496	19,609	2,488	-4,339	-3,599	3,304	3,736	3,700	3,646	-19,173	2,561	2,827	3,182	2,709	3,418	879	3,356	2,446	547	3,013	3,734	4,245	2,853
Equity in income of affiliates
6,275	2,594	1,290	1,408	1,769	3,534	224	2,200	2,732	1,259	916	2,594	2,424	717	1,442	1,448	1,155	670	-63	993	1,109	-410	-791	1,031	-2	698	-423	-2,368	1,481	-484	-617	750	1,881	-181	-257	933	529	-387	-319	4,021	783
Other expense (income), net
-127	759	1,762	-539	1,533	940	-268	1,878	1,309	642	870	685	732	3,183	1,372	622	-27	152	1,284	4,725	-1,196	-1,697	51	330	1,022	-495	1,103	-10,049	2,013	-5,018	6,871	-2,594	-1,833	-688	570	1,114	1,023	1,934	2,897	3,062	1,431
Total other income
3,022	923	1,854	-1,757	383	2,444	-958	2,761	2,522	371	94	984	912	1,511	601	-647	-1,766	-2,635	-1,833	-11,578	-2,124	1,819	2,380	-1,269	-2,114	-3,117	-2,837	1,990	1,418	-7,718	4,116	-3,970	-2,894	-1,173	-1,799	434	3,115	-368	-217	3,582	470
Income (loss) before provision for (benefit from) income taxes
25,387	-125,721	-40,246	13,444	67,789	-3,285	-13,793	47,146	69,304	24,360	-36,347	29,886	54,790	27,373	-15,687	52,170	49,859	14,514	-13,116	32,245	20,186	32,491	-29,325	-49,650	11,478	2,996	-28,853	24,043	62,859	6,346	-12,219	36,167	57,485	8,260	-12,479	-98,081	35,275	1,773	-45,343	49,838	30,854
Provision for (benefit from) income taxes
3,474	-31,760	-9,165	3,057	8,692	2,796	-4,131	11,821	21,249	8,088	-12,496	10,622	16,617	8,847	-5,924	17,031	17,679	4,975	-4,506	11,420	6,081	10,284	-8,064	-16,396	4,946	1,214	-9,027	5,669	17,113	1,859	-3,532	11,375	15,109	2,087	-5,223	-32,695	-8,026	4,406	-7,613	13,300	8,187
Net income (loss)
21,913	-93,961	-31,081	10,387	59,097	-6,081	-9,662	35,325	48,055	16,272	-23,851	19,264	38,173	18,526	-9,763	35,139	32,180	9,539	-8,610	20,825	14,105	22,207	-21,261	-33,254	6,532	1,782	-19,826	18,374	45,746	4,487	-8,687	24,792	42,376	6,173	-7,256	-65,386	43,301	-2,633	-37,730	36,538	22,667
Amount attributable to non-controlling interests
1,425	3,875	3,493	3,841	3,425	2,304	1,761	2,552	2,073	2,139	-61	3,091	982	4,327	678	6,466	1,421	-74	-50	3,849	-1,177	8,566	-708	-4,357	-6,505	363	2,156	388	8,625	2,538	3,086	6,038	5,908	1,227	1,751	-15,367	4,620	4,058	3,224	5,940	4,718
Net income (loss) attributable to Granite Construction Incorporated
20,488	-97,836	-34,574	6,546	55,672	-8,385	-11,423	32,773	45,982	14,133	-23,790	16,173	37,191	14,199	-10,441	28,673	30,759	9,613	-8,560	16,976	15,282	13,641	-20,553	-28,897	13,037	1,419	-21,982	17,986	37,121	1,949	-11,773	18,754	36,468	4,946	-9,007	-50,019	38,681	-6,691	-40,954	30,598	17,949
Net loss per share attributable to common shareholders (see Note 16)
Basic (in dollars per share)
0.44	-2.09	-0.74	0.26	1.20	-0.20	-0.29	0.84	1.15	0.35	-0.60	0.40	0.94	0.36	-0.26	0.74	0.78	0.24	-0.22	0.44	0.39	0.35	-0.53	-0.75	0.34	0.04	-0.57	0.47	0.96	0.05	-0.31	0.49	0.94	0.13	-0.24	-1.29	1.00	-0.18	-1.09	0.79	0.46
Diluted (in dollars per share)
0.43	-2.09	-0.74	0.28	1.17	-0.20	-0.29	0.82	1.14	0.35	-0.60	0.41	0.92	0.35	-0.26	0.73	0.77	0.24	-0.22	0.45	0.38	0.34	-0.53	-0.74	0.33	0.04	-0.57	0.47	0.94	0.05	-0.31	0.49	0.93	0.13	-0.24	-1.28	0.99	-0.18	-1.09	0.79	0.46
Weighted average shares of common stock
Basic (in shares)
46,788	46,824	46,699	46,996	46,308	41,044	39,908	39,860	39,844	39,827	39,649	39,612	39,599	39,584	39,433	39,397	39,378	39,358	39,215	39,168	39,150	39,115	38,951	38,897	38,876	38,829	38,610	38,534	38,518	38,471	38,265	38,193	38,172	38,140	37,963	37,877	37,865	37,850	37,688	37,595	37,584
Diluted (in shares)
47,170	46,824	46,699	47,338	47,810	41,044	39,908	41,059	40,387	40,393	39,649	40,852	40,313	40,302	39,433	40,479	39,897	39,881	39,215	40,609	39,813	39,807	38,951	37,074	39,759	39,769	38,610	39,747	39,141	39,151	38,265	38,852	38,598	38,479	37,963	37,671	38,071	37,850	37,688	37,709	37,699
Dividends per common share
-	-	-	-	-	-	-	-	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13
Transportation [Member]
Total revenue
598,646	403,978	338,210	504,040	610,847	502,711	359,145	-	624,727	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total cost of revenue
585,013	503,857	316,960	452,396	539,871	466,748	327,683	-	559,187	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross profit
13,633	-	-	-	70,976	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Water [Member]
Total revenue
135,908	112,831	99,255	122,299	124,292	51,618	40,041	-	36,378	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total cost of revenue
120,878	101,568	91,136	103,842	100,189	46,168	28,477	-	34,573	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross profit
15,030	-	-	-	24,103	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Specialty [Member]
Total revenue
224,457	175,084	140,693	165,470	190,836	151,842	118,471	-	197,886	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total cost of revenue
186,158	152,874	125,826	139,893	162,737	130,366	102,735	-	170,089	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross profit
38,299	-	-	-	28,099	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Materials [Member]
Total revenue
129,099	97,647	41,643	100,516	129,616	100,948	45,722	-	98,135	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total cost of revenue
104,629	83,645	45,401	88,145	108,303	83,468	48,201	-	78,747	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross profit
24,470	-	-	-	21,313	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Construction [Member]
Total revenue
-	-	-	-	-	-	-	-	-	429,269	226,849	359,741	464,624	331,346	209,487	341,532	427,018	305,605	188,520	313,088	447,097	269,220	157,040	294,909	470,567	308,602	177,119	235,303	385,744	245,113	117,946	259,221	431,101	260,600	92,692	214,127	409,989	237,943	81,186	466,605	277,456
Total cost of revenue
-	-	-	-	-	-	-	-	-	368,369	199,520	298,045	393,094	282,290	182,554	273,976	366,547	266,721	167,925	281,908	398,295	244,393	147,896	280,607	419,848	284,532	163,918	217,154	352,471	227,152	109,366	222,197	372,561	237,211	87,139	187,831	365,323	215,042	79,340	393,970	224,655
Large Project Construction [Member]
Total revenue
-	-	-	-	-	-	-	-	-	254,463	207,033	246,077	249,345	197,322	195,449	222,438	217,084	182,893	190,305	213,934	179,446	244,328	187,336	238,543	185,997	181,557	171,714	214,572	255,918	228,799	163,928	211,565	213,320	162,338	137,820	154,781	169,972	153,328	106,325	181,171	125,770
Total cost of revenue
-	-	-	-	-	-	-	-	-	253,974	204,478	232,618	225,826	183,668	181,944	196,640	195,430	168,414	172,769	179,101	173,767	193,536	171,543	213,215	188,160	159,986	148,993	174,456	198,104	200,560	141,679	176,970	187,763	149,680	106,522	137,108	151,656	131,493	96,842	155,950	103,259
Construction Materials [Member]
Total revenue
-	-	-	-	-	-	-	-	-	79,181	34,518	60,863	89,936	75,911	34,516	66,192	107,274	80,744	41,424	62,767	93,221	72,322	35,471	64,786	83,172	60,185	29,750	59,960	86,782	63,349	25,623	55,500	83,171	58,114	23,798	46,677	88,128	61,089	26,164	71,527	57,315
Total cost of revenue
-	-	-	-	-	-	-	-	-	66,000	39,276	54,768	77,311	65,420	35,709	58,922	93,316	69,907	40,626	59,554	81,010	65,526	39,000	62,626	75,884	56,231	35,724	60,616	76,798	58,349	31,573	49,613	73,617	49,644	31,068	110,729	75,991	56,609	-33,289	-63,176	-47,732