The firm’s backlog measured $4.5 billion at the end of 2022, a $475 million, 11.8% increase from a year earlier. That amount included $1.7 billion, a company record, from the firm’s California group. In Granite’s home state, the firm said transportation funding had increased 42%, or approximately $1.5 billion, with the same level expected for the next several years, despite a $22.5 billion deficit in Gov. Gavin Newsom’s proposed budget.
The company’s generally positive momentum in its numbers was marred by an announcement that it would need to again restate its financials. The numbers do-over this time will be for Q1 and Q2 of 2022, due to a failure to record a $12 million tax accrual from the sale of its Inliner piping business last year.
