Granite Construction Incorporated Loss Form

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    On July 29, 2019, post-market, Granite announced its preliminary financial results for the second quarter of 2019. The Company disclosed a net loss per diluted share in the range of $2.05 to $2.10 for the quarter and revised its fiscal year 2019 guidance, stating that its results were impacted by non-cash charges related to four legacy, unconsolidated heavy civil joint venture projects.

    On this news, Granite’s stock price fell nearly 18% to close at $36.49 per share on July 30, 2019.