Granite Construction Inc reports results for the quarter ended September 30 - Earnings Summary

Granite Construction Inc reported adjusted earnings of $2.70 per share for the quarter ended September 30, exceeding last year's $2.05 and analysts' expectations of $2.50. Revenue increased by 12.4% to $1.43 billion, though below the expected $1.48 billion. The company’s net income was $102.93 million. Despite a 6.3% drop in shares this quarter, they have gained 17.2% year-to-date. Analysts maintain a "buy" rating, with a median 12-month price target of $131.50, 21.9% above the last closing price of $102.76.