Granite Construction Incorporated (NYSE:GVA) Q1 2023 Earnings Conference Call May 2, 2023 11:00 AM ET
Company Participants
Mike Barker – Vice President-Investor Relations
Kyle Larkin – President and Chief Executive Officer
Conference Call Participants
Steven Ramsey – Thompson Research Group
Brent Thielman – D.A. Davidson
Brian Russo – Sidoti
Michael Dudas – Vertical Research Partners
Jerry Revich – Goldman Sachs
Operator
Good morning. My name is Andrea and I will be your conference facilitator today. At this time, I would like to welcome everyone to the Granite Construction Incorporated 2023 First Quarter Conference Call. This call is being recorded. All lines have been placed on mute to prevent any background noise. And after the speaker’s remarks, there will be a question-and-answer period. [Operator Instructions] Please note we will take one question and one follow-up question from each participant today.
It is now my pleasure to turn the floor over to Vice President of Investor Relations, Mike Barker. Please go ahead.
Mike Barker
Good morning and thank you for joining us. I’m pleased to be here today with President and Chief Executive Officer, Kyle Larkin; our Chief Financial Officer, Lisa Curtis, is recuperating from a minor unplanned medical procedure and is unable to join us today. We’re happy to report that Lisa is doing well and she’ll be back with us soon.
Please note that today’s earnings presentation will be available on the Events & Presentations page of our Investor Relations website. We begin today with a brief discussion regarding forward-looking statements and non-GAAP measures. Some of the discussion today may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are estimates reflecting the current expectations and best judgment of senior management regarding the future events, occurrences, opportunities, targets, growth, demand, strategic plans, circumstances, activities, performance, shareholder value, outcomes, outlook, guidance, objectives, committed and awarded projects or CAP, and results.
Actual results could differ materially from statements made today. Please refer to Granite’s most recent 10-K and 10-Q filings for a more complete description of risk factors that could affect these forward-looking statements. The company assumes no obligation to update forward-looking statements except as required by law. Certain non-GAAP measures may be discussed during today’s call and from time-to-time by the company’s executives. These include but are not limited to adjusted EBITDA, adjusted EBITDA margin, adjusted net income and adjusted earnings per share. The required disclosures regarding our non-GAAP measures are included as part of our earnings press releases and company presentations, which are available on our website, graniteconstruction.com under Investor Relations. We’ll also be discussing comparable results, which excludes the effects of Granite Inliner, which was sold in March 2022.