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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue        
Total revenue $ 898,552 $ 849,247 $ 1,458,620 $ 1,503,133
Cost of revenue        
Total cost of revenue 795,466 751,681 1,323,175 1,345,475
Gross profit 103,086 97,566 135,445 157,658
Selling, general and administrative expenses 64,563 60,121 137,685 130,241
Other costs, net 13,607 16,612 18,130 22,891
Gain on sales of property and equipment, net (3,944) (8,915) (5,981) (9,513)
Operating income (loss) 28,860 29,748 (14,389) 14,039
Other (income) expense        
Loss on debt extinguishment 51,052 0 51,052 0
Interest income (3,232) (782) (6,994) (1,352)
Interest expense 4,131 3,899 7,022 7,484
Net income from affiliates (7,044) (4,876) (12,231) (6,165)
Other (income) expense, net (1,225) 3,261 (3,175) 4,569
Total other expense, net 43,682 1,502 35,674 4,536
Income (loss) before income taxes (14,822) 28,246 (50,063) 9,503
Provision for (benefit from) income taxes 9,024 8,668 (445) 15,020
Net income (loss) (23,846) 19,578 (49,618) (5,517)
Amount attributable to non-controlling interests 6,846 (897) 9,595 (2,535)
Net income (loss) attributable to Granite Construction Incorporated $ (17,000) $ 18,681 $ (40,023) $ (8,052)
Net income (loss) per share attributable to common shareholders        
Net loss per share, basic (USD per share) $ (0.39) $ 0.42 $ (0.91) $ (0.18)
Net loss per share, diluted (USD per share) $ (0.39) $ 0.39 $ (0.91) $ (0.18)
Weighted average shares outstanding:        
Weighted average shares outstanding, basic (shares) 43,892,000 44,534,000 43,829,000 45,128,000
Weighted average shares outstanding, diluted (shares) 43,892,000 52,295,000 43,829,000 45,128,000
Construction        
Revenue        
Total revenue $ 749,413 $ 713,221 $ 1,252,829 $ 1,291,487
Cost of revenue        
Total cost of revenue 670,259 632,969 1,136,970 1,152,756
Materials        
Revenue        
Total revenue 149,139 136,026 205,791 211,646
Cost of revenue        
Total cost of revenue $ 125,207 $ 118,712 $ 186,205 $ 192,719