- Goldfield (GV -14.6%) reported Q3 revenue growth of 20.4% Y/Y to $29.5M and net income of $4.4M (-12% Y/Y).
- Q3 Gross margin on electrical construction operations declined by 250 bps to 11.5%, due to lower margins on a higher volume of electrical construction projects.
- Operating margin declined by 92 bps to -0.36%.
- Q3 EBITDA increased by 13.6% Y/Y to $2.07M and margin declined by 40 bps to 7.02%.
- Net cash provided by operating activities YTD was $6.05M, compared to $6.54M a year ago.
- Total backlog was at $180.6M (-11% Y/Y), with electrical construction backlog at $99.2M (+6.1% Y/Y) and MSA backlog at %59.8M.
- Previously: Goldfield reports Q3 results (Nov. 6)