AMRC - Granite Construction's Road To Wealth Isn't At The End Of The Line Yet
2024-04-30 15:42:35 ET
Summary
- Granite Construction Incorporated stock has outperformed the S&P 500, rising 32.4% since last year.
- The company's revenue increased by 6.3% in 2023, driven by acquisitions and higher volumes, with those results pushing cash flows higher too.
- Management has high expectations for 2024, with projected revenue of $3.8 billion to $4 billion and improved profitability.
- Shares still look cheap despite a move higher, making it a solid prospect.
Back in March of last year, a little more than a year ago now, I ended up writing an article that took a rather bullish stance on Granite Construction Incorporated ( GVA ). For those not familiar, the company describes itself as an infrastructure solutions business. It has two main lines of operations. One of these focuses on the construction and rehabilitation of roads, bridges, rail lines, airports, and more. And the second involves the production and sale of aggregates, plus asphalt production. While this may not seem like the most exciting line of business, it is something that interests me. And fortunately, that interest this time turned into something rather impressive....
Granite Construction's Road To Wealth Isn't At The End Of The Line Yet