11:13 AM EDT, 05/02/2024 (MT Newswires) -- Granite Construction ( GVA ) shares were up 4.8% in recent Thursday trading after the company reported better-than-expected Q1 results and maintained its 2024 revenue outlook.

The company reported a Q1 adjusted net loss of $0.21 per diluted share, compared with a loss of $0.33 per share a year earlier. Three analysts polled by Capital IQ expected a normalized loss of $0.28.

Revenue for the quarter ended March 31 rose to $672.3 million from $560.1 million a year earlier. Four analysts surveyed by Capital IQ expected $666.5 million.

For 2024, the company said it continues to expect revenue of $3.8 billion to $4 billion. Analysts polled by Capital IQ expect $3.88 billion.

Price: 57.44, Change: +2.45, Percent Change: +4.46