GVA - Granite Construction Faces Potential Scrutiny Over Its Accounting Similar To Fluor
Fluor Corporation (FLR) recently reported its preliminary fourth-quarter results and announced that it is under SEC investigations related to its 2Q19 charges. The stock has corrected over 40% since this announcement. Granite Construction (GVA) is another company that took significant charges in 2Q19. Granite is facing execution issues and has taken charges in four mega projects (I,II,III,IV) booked between 2012 and 2014 in its heavy civil business. This includes Tappan Zee project, a Joint Venture led by Fluor Corporation. If