Granite Construction Reports $59 Million Loss for 2010

Without restructuring charge, the company recorded slightly negative operating income

July 19, 2014

Granite Construction reported a full-year loss of $59 million, including a $107 million restructuring charge related to cutting 13% of the workforce and selling the real estate segment. Even without the charge, the company recorded a slight negative in operating income, reflecting an 800-basis-point decline in gross margins related to the construction and large construction segments. Heavy competition has taken a bite out of earnings, and we expect the backlog booked in 2010 to carry a similar margin picture, making the company start 2011 with a rather distressing operating profile. (More at MorningStar.com . . . )

Granite Press Release

White Cap has also acquired Crimson Steel Supply, LLC (Crimson Steel), a distributor and fabricator of engineered steel rebar and structural steel products serving non-residential and infrastructure end markets.

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The Port of Baltimore is used by many of the largest construction machinery manufacturers.

Construction Supply Chain and the Baltimore Bridge Collapse

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Volvo Ce Pioneers E Shuttle Service To Cut Transport Emissions 660d7bf383081

Volvo Construction Testing Out Excavator Delivery in France With E-shuttle

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Tenna

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Trailer Orders Down 24% YoY

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3 Tips for Managing Economic Risks on Construction Projects

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Specific details regarding the actual price change will be communicated directly to customers by Trelleborg tires representatives in each market.

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Progress included the removal of a 156-ton piece of Span 19 outside of the navigational channel, which was hoisted and loaded onto a barge and taken to Sparrows Point, Md., for future disposal.

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James Howe.

Howe Named President of Motion Industries

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Photo Apr 14 2023, 13 34 49

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A working construction site.

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JA Mitsui Leasing has announced that it has acquired a 100% interest in Oakmont Capital Holdings.

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Don Harvell.

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Baltimore Bridge 040424

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