Granite Construction Incorporated (NYSE:GVA) Q2 2024 Earnings Conference Call August 1, 2024 11:00 AM ET
Company Participants
Mike Barker - Vice President-Investor Relations
Kyle Larkin - President and Chief Executive Officer
Lisa Curtis - Executive Vice President and Chief Financial Officer
Conference Call Participants
Brent Thielman - D.A. Davidson
Steven Ramsey - Thompson Research Group
Michael Dudas - Vertical Research Partners
Jerry Revich - Goldman Sachs
Operator
Good day. My name is Jason and I'll be your conference facilitator today. At this time, I would like to welcome everyone to the Granite Construction Incorporated 2024 Second Quarter Conference Call. This call is being recorded. [Operator Instructions]
It is now my pleasure to turn the floor over to Vice President of Investor Relations, Mike Barker.
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; and Executive Vice President and Chief Financial Officer, Lisa Curtis.
Please note that today's earnings presentation will be available on the Events and 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 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, adjusted earnings per share and Materials segment cash gross profit. The required disclosures regarding our non-GAAP measures are included as part of our earnings press releases and in company presentations which are available on our website graniteconstruction.com under Investor Relations.
Now, I would like to turn the call over to Kyle Larkin.
Kyle Larkin
Good morning and welcome to our second quarter conference call. Before I discuss our financial results for the quarter, I want to mention an exciting development and our ongoing work to expand our vertically integrated operations. This week, we entered into an agreement to acquire Dickerson & Bowen, a leading regional aggregates asphalt and highway construction company, serving Central and Southern Mississippi. Subject to customary closing conditions, we expect the transaction to close in the third quarter. The acquisition is a highly complementary bolt-on to our 2023 acquisition of Lehman-Roberts and Memphis Stone & Gravel, as Dickerson & Bowen is also a materials focused vertically integrated operations.