Granite still confident despite first-quarter weather challenges

Granite Construction reported a net loss of $34.6 million for the first quarter of the year.

Last year’s first quarter net loss was $11.4 million.

“Unusually cold and wet weather across the U.S. in 2019 negatively impacted Granite’s first-quarter operations, but it has not dampened demand,” says James Roberts, president and CEO of Granite Construction. “Public- and private-market demand remains strong across Granite’s end markets.

The company remains bullish about the months ahead.

“2019 will be a strong year of growth and strategic execution for Granite, despite the extreme winter and spring weather that impacted our results in the first quarter,” Roberts says. “Historically strong committed and awarded projects and booking trends, along with healthy funding and demand, continue to fuel our confidence that we will deliver on our previously stated 2019 growth and earnings expectations.”