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News

CORRECTION: Granite Construction Reiterated FY24 Revenue Outlook of $3.80B-$4.00B Vs $3.88B Estimate

Author: Benzinga Newsdesk | May 02, 2024 06:50am

Outlook

Our guidance for 2024 is unchanged, with the exception of adjusted EBITDA margin. Adjusted EBITDA margin guidance has increased from a range of 9.0% to 11.0% to a range of 9.5% to 11.5% after giving consideration for the exclusion of stock based compensation expense in our adjusted EBITDA margin.

Revenue in the range of $3.8 billion to $4.0 billion

Adjusted EBITDA margin in the range of 9.5% to 11.5%

SG&A expense in the range of 7.5% to 8.0% of revenue

Mid-20s effective tax rate for adjusted net income

Capital expenditures of approximately $130 million to $150 million

Posted In: GVA