WATSONVILLE, Calif. (AP) _ Granite Construction Inc. (GVA) on Friday reported a loss of $11.2 million in its first quarter.
On a per-share basis, the Watsonville, California-based company said it had a loss of 28 cents.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The contractor and construction materials producer posted revenue of $439.5 million in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $444.7 million.
Granite Construction shares have increased 6 percent since the beginning of the year. The stock has climbed 27 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GVA at http://www.zacks.com/ap/GVA
Keywords: Granite Construction, Earnings Report
Automated Insights, source Associated Press News