Granite Construction Inc. Q2 Profit Increases, Beats Estimates

(RTTNews) - Granite Construction Inc. (GVA) released a profit for its second quarter that Increased from last year and beat the Street estimates.

The company's earnings totaled $71.70 million, or $1.42 per share. This compares with $36.90 million, or $0.76 per share, last year.

Excluding items, Granite Construction Inc. reported adjusted earnings of $86.30 million or $1.93 per share for the period.

Analysts on average had expected the company to earn $1.70 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 4.0% to $1.125 billion from $1.082 billion last year.

Granite Construction Inc. earnings at a glance (GAAP) :

-Earnings: $71.70 Mln. vs. $36.90 Mln. last year. -EPS: $1.42 vs. $0.76 last year. -Revenue: $1.125 Bln vs. $1.082 Bln last year.

-Guidance: Full year revenue guidance: $4.35 - $4.55 Bln