Granite Construction Incorporated · NYSE:GVA
Granite Construction — Q4 2014 Earnings Presentation
20 slides from Granite Construction's earnings presentation, March 2015
Slide 1: 2014 Fourth Quarter Investor Update March 2015
2014 Fourth Quarter INVESTOR UPDATE M ARCH 2 015 1 Morning Drive Bridge Project | Bakersfield, CA
Slide 2: Safe Harbor
SAFE HARBOR Statements made in this presentation are not based on historical facts, including statements regarding future events, occurrences, circumstances, activities, performance, outcomes and results, that may be forward looking in nature. Under the Private Securities Litigation Reform Act of 19
Slide 3: Vision: World's Most Ethical Companies
VISION To be one of America's leading infrastructure companies Proud to be one of the World’s Most Ethical Companies 6 years in a row 3
Slide 4: Construction Industry Sustainability Leader
CONSTRUCTION INDUSTRY SUSTAINABILITY LEADER Commitment to: Safety & Health Compliance & Ethics Community Employees Environment Sustainable Infrastructure Quality 4
Slide 5: Funding & Financing Environment
FUNDING & FINANCING ENVIRONMENT State & Federal Local P3s Private TIFIA* and P3s* driving growth opportunities * Transportation Infrastructure Finance and Innovation Act; Public‐Private Partnerships. 5
Slide 6: Market Environment
MARKET ENVIRONMENT Geography End Market Strategy Public & Private Diversification drives synergies 6
Slide 7: Executing on Strategic Plan
EXECUTING ON STRATEGIC PLAN TRANSFORM GROW GROW OPTIMIZE and GROW the the large projects through our business vertically-integrated business diversification business 7
Slide 8: Executing on Strategic Plan: Transform and Grow Vertically-Integrated Business
EXECUTING ON STRATEGIC PLAN TRANSFORM and GROW the vertically-integrated business Focus on: • Execution • Cost-efficiency opportunities • New, expanded customer relationships • Expansion of VI footprint More than 750 million tons of permitted aggregate reserves (owned and leased) 8
Slide 9: Executing on Strategic Plan: Grow Large Projects Business
EXECUTING ON STRATEGIC PLAN GROW the large projects business Focus on: • Proactive business development • Growing capabilities • Alternative procurement • Project selection 9
Slide 10: Executing on Strategic Plan: Grow Through Diversification
EXECUTING ON STRATEGIC PLAN GROW through diversification Pavement Federal Preservation Contracting Transportation Construction Infrastructure Materials Water & Mining Tunneling Wastewater Oil & Power Underground Gas 10
Slide 11: Executing on Strategic Plan: Optimize Our Business
EXECUTING ON STRATEGIC PLAN OPTIMIZE our business Focus on: • National Purchasing • Continuous Improvement Challenging ourselves to be better every day 11
Slide 12: Executing on Strategic Plan
EXECUTING ON STRATEGIC PLAN TRANSFORM GROW GROW OPTIMIZE and GROW the the large projects through our business vertically-integrated business diversification business 12
Slide 13: Revenue, Gross Profit, SG&A
REVENUE GROSS PROFIT SG&A $2.3B Total Company $250M Total Company $204M Total Company $2.3 $2.3 $248 $250 $2.1 $235 $200 $204 $2.0 $192 $185 $1.8 $185 $162 $178 11% 8% 9% 9% 9% 10% 12% 8% 11% 11% 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 Years Ended December 31; perc
Slide 14: Net Income, Per Share, Cash
NET INCOME $ PER SHARE CASH $25M Total Company $0.64 Net Income Per Share $358M Cash and Cash Equivalents $1.31 $1.15 $433 $51 $45 $396 $407 $0.64 $358 $25 $346 2010 2011 2011 2012 2012 2013 2014 2014 2010 2011 2011 2012 2012 2013 2014 2014 ($36) ($0.94) ($59) ($1.56) 2010 2011 2012 2013 2014 Years
Slide 15: Backlog $2.7B
Glenn HWY 172-189 Rehabilitation | AK BACKLOG $2.7B Total Company $2.7B $2.5B $1.9B $2.0B $1.7B 2010 2011 2012 2013 2014 15
Slide 16: Large Projects $19B
LARGE PROJECTS In Large Projects teaming $19B arrangements over next couple years Amtrak New Haven-Springfield Connecticut I-75 at SR 50 Florida Harbor Bridge US 181 Texas Asheboro Bypass North Carolina Project Neon Nevada Loop 202 So. Mountain Fwy Arizona Purple Line - Light Rail Maryland Grand Par
Slide 17: Construction $300M
CONSTRUCTION $300M In Construction projects bidding in March 2015 Market St. S. Springs, Utah Highway 101 Realignment Santa Clara, CA I-290 Interchange Itasca, IL Runway Repairs Columbus. OH Marcellus Area Improvements Marcellus, PA I-5/116th NE Interchange Tulalip, WA Parks Highway Anchorage, AK No
Slide 18: Appendix
Appendix Note: The reader is cautioned that any non-GAAP financial measures provided by the Company are provided in addition to, and not as alternatives for, the Company's reported results prepared in accordance with GAAP. Items that may have a significant impact on the Company's financial position,
Slide 19: Adjusted Information EBITDA
Earnings Before Interest Taxes Depreciation & Amortization (EBITDA) Years Ended December 31, (in thousands) 2014 2013 Net income (loss) attributable to Granite Construction Incorporated $ 25,346 $ (36,423) Depreciation, depletion and amortization expense(2) 68,252 72,899 Provision for (benefit from)
Slide 20: Investor Update Contact
2014 Fourth Quarter INVESTOR UPDATE M ARCH 2 015 Ron Botoff Director of Investor Relations O: (831) 728-7532 E: ronald.botoff@gcinc.com Eglinton-Scarborough Crosstown LRT Tunnels | Toronto , Canada