Granite posts flat revenue amid competitive bidding environment

Dive Transient:

  • Revenues fell marginally at Watsonville, California-based Granite Design during the 3rd quarter amid a hypercompetitive bid surroundings, owners dragging their ft on assignments due to offer chain hurdles and greater price ranges for gasoline and asphalt chopping into profits.  
  • The company reported Thursday $one.06 billion in income for Q3 2021, basically flat from its effects in the calendar year back interval, when it notched $3 million far more in sales. Granite’s backlog, or the work it has gained but hasn’t began doing work on nonetheless, enhanced to $4.3 billion — up $one hundred thirty five.4 million, or 3%, from the very same time frame in 2020. But it declined sequentially by $117.4 million, or 2.6%, from the $4.4 billion it described in the second quarter of this calendar year.
  • Gross profits in the 3rd quarter decreased 4.8% from a calendar year previously to $119.nine million. The organization reaffirmed
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