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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue        
Total revenue $ 1,082,486 $ 898,552 $ 1,754,761 $ 1,458,620
Cost of revenue        
Total cost of revenue 917,775 795,466 1,535,765 1,323,175
Gross profit 164,711 103,086 218,996 135,445
Selling, general and administrative expenses 70,052 64,563 158,045 137,685
Other costs, net 10,225 13,607 21,235 18,130
Gain on sales of property and equipment, net (1,387) (3,944) (2,805) (5,981)
Operating income (loss) 85,821 28,860 42,521 (14,389)
Other (income) expense        
Loss on debt extinguishment 27,824 51,052 27,824 51,052
Interest income (3,600) (3,232) (10,302) (6,994)
Interest expense 5,337 4,131 13,420 7,022
Net income from affiliates (4,557) (7,044) (8,527) (12,231)
Other (income) expense, net 1,267 (1,225) (476) (3,175)
Total other expense, net 26,271 43,682 21,939 35,674
Income (loss) before income taxes 59,550 (14,822) 20,582 (50,063)
Provision for (benefit from) income taxes 20,693 9,024 11,167 (445)
Net income (loss) 38,857 (23,846) 9,415 (49,618)
Amount attributable to non-controlling interests (1,962) 6,846 (3,503) 9,595
Net income (loss) attributable to Granite Construction Incorporated $ 36,895 $ (17,000) $ 5,912 $ (40,023)
Net loss per share attributable to common shareholders        
Basic (USD per share) $ 0.84 $ (0.39) $ 0.13 $ (0.91)
Diluted (USD per share) $ 0.76 $ (0.39) $ 0.13 $ (0.91)
Weighted average shares outstanding:        
Basic (shares) 44,060 43,892 44,024 43,829
Diluted (shares) 52,727 43,892 44,593 43,829
Construction        
Revenue        
Total revenue $ 917,954 $ 749,413 $ 1,513,167 $ 1,252,829
Cost of revenue        
Total cost of revenue 782,582 670,259 1,320,967 1,136,970
Materials        
Revenue        
Total revenue 164,532 149,139 241,594 205,791
Cost of revenue        
Total cost of revenue $ 135,193 $ 125,207 $ 214,798 $ 186,205