Granite Construction Incorporated (NYSE:GVA) Q3 2023 Earnings Call Transcript

So, I don’t – I think we feel good about where we are at from a CAP perspective and the contracting message we have. I don’t think anything shifted by the way, in terms of the payment terms with the contract work, that hasn’t really changed a whole lot. What’s changed is this home market strategy. I think one, we are working for clients that we know and we understand, which allows us to move away from having contract claims, which is certainly not helpful in terms of generating cash for the business. And also, we are doing work that is best value as opposed to design builds, so there is a lot less claims associated with these types of contracts, too. So, I think our entire business model has shifted, which will only help not only de-risk the company, but also generate better cash flows in the future.

Unidentified Analyst: Great. Thanks so much.

Kyle Larkin: Thank you.

Operator: This is the end of Q&A. And now I would like to turn the call back over to Mr. Larkin.

Kyle Larkin: Okay. Well, thank you for joining the call today. As always, we want to thank all of our employees for the work they do every day. I believe that our company has never been stronger and we are in a better position to grow and deliver shareholder returns. Let’s finish the year strong. Thank you for joining the call and your interest in Granite. We look forward to speaking with you all soon.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.