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Operator Good day. My name is Ailee [Phonetic] and I will be your conference facilitator today. At this time, I would like to welcome everyone to the Granite Construction Investor Relations First Quarter 2021 Conference Call. [Operator Instructions] It is now my pleasure to turn the floor over to your host, Granite Construction Incorporated, Vice President of Investor Relations, Mike Barker. Sir, the floor is yours. Mike Barker Vice President of Investor Relations Good morning and thank you for joining us. I m pleased to be here today with Granite President, Kyle Larkin; and Executive Vice President and Chief Financial Officer, Lisa Curtis. Please note that today s earnings presentation will be available on the Events and Presentations page of Granites Investor Relations website. We begin today with an overview of the company s Safe Harbor language. Some of the discussion today may include forward-looking statements within the meaning of the Private Securities L ....
First Quarter 2021 Results Results for the first quarter of 2021 were a net loss of ($66.2) million, or ($1.45) per diluted share, compared to a net loss of ($65.4) million, or ($1.44) per diluted share, in the prior year. Adjusted net loss(2) for the first quarter of 2021, which excludes other costs(3), non-cash impairments of goodwill, Transaction costs(4), and amortization of debt discount related to our 2.75% convertible notes, was ($4.9) million, or ($0.11) per diluted share, compared to an adjusted net loss(2) of ($31.6) million, or ($0.69) per diluted share, in the prior year. – Revenue increased 5.3% to $669.9 million compared to $635.9 million in the prior year. – Gross profit increased 166.1% to $63.3 million compared to $23.8 million in the prior year. Gross profit margin increased to 9.5% compared to 3.7% in the prior year. ....
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Press release content from Business Wire. The AP news staff was not involved in its creation. Granite Reports Fiscal Year 2019 Results February 19, 2021 GMT WATSONVILLE, Calif. (BUSINESS WIRE) Feb 19, 2021 Granite Construction Incorporated (NYSE: GVA) today announced its 2019 financial results, reflecting a net loss of ($60.2) million (($1.29) per diluted share) compared to net income of $0.6 million ($0.01 per diluted share) in 2018. The results include after-tax, acquisition-related expenses for 2019 and 2018 of $33.0 million and $60.5 million, respectively. Revenue in 2019 increased $158.6 million, or 5.0%, to $3.4 billion primarily due to incremental revenue from 2018 acquisitions, while gross profit decreased $113.2 million to $221.7 million due to project write downs within the Heavy Civil Operating Group. Selling, general & administrative (“SG&A”) expenses in 2019 were $308.0 million, or 8.9% of revenue, compared to $272.8 million, or 8.3% of revenue, i ....