Granite Const Raises FY2025 Sales Guidance from $4.200B-$4.400B to $4.350B-$4.550B vs $4.283B Est

Outlook

With the acquisitions announced this week, we are updating our 2025 fiscal year guidance as noted below:

• Revenue in the range of $4.35 billion to $4.55 billion with revenue from the new acquisitions of approximately $150 million
• Adjusted EBITDA margin increased to a range of 11.25% to 12.25%
• SG&A expense unchanged at approximately 9.0% of revenue, inclusive of an estimated $40 million of stock-based compensation expense
• Effective tax rate for adjusted net income unchanged in the Mid-20s
• Capital expenditures unchanged with a range of $140 million to $160 million