Granite sees opportunity from federal stimulus, addresses accounting irregularities

Dive Brief:

  • On its to start with earnings simply call with Wall Avenue analysts in sixteen months yesterday, Granite Construction issued a mea culpa for accounting irregularities in its hefty civil team that led to an inner investigation as properly as subpoenas from the Securities and Trade Fee. But the company described that even as it continues to get the job done to place the troubles at the rear of it, it sees opportunity in advance in elevated federal and point out expending coming out of the pandemic.
  • Right after issuing restated financials past week for 2017, 2018 and the to start with nine months of 2019, Granite described third quarter calendar year-to-date success for 2020 on Thursday, edging a person step closer to having its books again into compliance. Earnings of $2.6 billion for the nine months ending Sept. thirty was up 2.2% for the calendar year. It ended
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