Granite Reports Q1 Revenue of $912M, Beating Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 30 2026
0mins
Should l Buy GVA?
Reports Q1 revenue $912M, consensus $782.26M. "Building on our momentum from the fourth quarter, we are off to a strong start across both our construction and materials segments," said CEO Kyle Larkin. "In construction, our teams across key federal, state and local and private end markets have been highly active, driving CAP to a new record of $7.2B. Our materials segment is also performing well...We continue to actively evaluate and pursue M&A opportunities and expect to complete several acquisitions this year...Given our Q1 performance and recent project awards, including tactical infrastructure for the U.S. Customs and Border Protection, as well as the acquisition of Kenny Seng Construction, we are increasing our FY26 guidance. We expect 2026 to be a year of meaningful growth and believe Granite is positioned for continued growth in 2027."
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Analyst Views on GVA
Wall Street analysts forecast GVA stock price to fall
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 141.880
Low
108.08
Averages
119.04
High
130.00
Current: 141.880
Low
108.08
Averages
119.04
High
130.00
About GVA
Granite Construction Incorporated is a diversified construction and construction materials company in the United States as well as a full-suite civil construction provider. The Company's segments include Construction and Materials. The Construction segment is focused on construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure and site development for use by the general public and water-related construction for municipal agencies, commercial water suppliers, industrial facilities and energy companies. It also provides construction of various complex projects including infrastructure/site development, mining, public safety, tunnel, solar, battery storage and other power-related projects. The Materials segment is focused on production of aggregates, asphalt concrete, liquid asphalt and recycled materials production for internal use in its construction projects and for sale to third parties.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Granite Construction Q1 2026 Earnings Highlights
- Acquisition Impact: Granite Construction announced the acquisition of Kenny Seng Construction, expected to add approximately $150 million in annual revenue with an adjusted EBITDA margin in the high teens, thereby enhancing the company's competitive position in the market.
- Financial Performance: In Q1, revenue increased by 30% year-over-year to $912 million, with adjusted net income rising by $12 million and adjusted EBITDA increasing by $30 million to $58 million, demonstrating the company's strong profitability and growth potential.
- Outlook Revision: The company raised its 2026 revenue guidance to a range of $5.2 billion to $5.4 billion, reflecting the positive impact of new tactical infrastructure contracts and the acquisition, while also increasing adjusted EBITDA margin guidance to 12.25% to 13.25%, indicating management's confidence in future growth.
- CapEx and Cash Flow: Despite a $300 million reduction in funding due to the cancellation of a California public project, Granite reported a capital expenditure of $7.2 billion, showcasing its resilience in project execution and financial management.
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Apple, Sandisk, and Roku Shine as Market Hits New Highs
- Market Highs: The stock market reached new highs amid falling oil prices, with Apple, Sandisk, and Roku emerging as key movers, reflecting strong investor confidence in tech stocks that may drive future investment inflows.
- Apple's Strong Performance: Apple's stock rose due to new product launches and sustained consumer demand, showcasing its leadership position and strong brand influence in the market, potentially enhancing its market share further.
- Sandisk's Growth Potential: Sandisk's performance growth is driven by rising demand for data storage, particularly in cloud computing and big data sectors, which is expected to propel its future revenue growth and market expansion.
- Roku's Market Rebound: Roku's stock rebounded due to increased demand for streaming services, indicating its adaptability and growth potential in the competitive streaming market, which may attract more investor attention.
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Granite (GVA) Q1 2026 Earnings Call Transcript
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Granite Construction Q1 Earnings Exceed Expectations
- Strong Earnings Performance: Granite Construction reported a Q1 non-GAAP EPS of $0.26, beating expectations by $0.87, indicating robust profitability that is likely to positively influence stock prices.
- Significant Revenue Growth: The company achieved Q1 revenue of $912 million, a 30.3% year-over-year increase, surpassing market expectations by $129.74 million, reflecting strong demand and an increase in market share in the infrastructure sector.
- Upgraded 2026 Fiscal Guidance: Granite raised its 2026 revenue guidance to a range of $5.2 billion to $5.4 billion, significantly above the previous consensus of $4.96 billion, demonstrating confidence in future growth and a positive market outlook.
- Optimized Cost Control: The adjusted EBITDA margin is now expected to be between 12.25% and 13.25%, while SG&A expenses as a percentage of revenue have been lowered to 8.25% to 8.75%, enhancing the company's profitability and financial health.
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Granite Construction Q1 Earnings Preview
- Earnings Announcement Date: Granite Construction is set to release its Q1 earnings on April 30 before market open, with a consensus EPS estimate of -$0.61, reflecting a staggering 6200% year-over-year decline, indicating significant challenges ahead for the company.
- Revenue Expectations: The revenue estimate stands at $782.26 million, representing an 11.8% year-over-year increase, suggesting that despite declining profitability, the company may be performing well in securing new projects.
- Historical Performance Review: Over the past two years, Granite has beaten EPS estimates 75% of the time and revenue estimates 63% of the time, indicating a relative stability in financial forecasting despite current challenges.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen one upward revision and two downward revisions, while revenue estimates have experienced no upward revisions and two downward revisions, reflecting a weakening market confidence in the company's future performance.
See More
Granite Releases 2025 Sustainability Report Highlighting Key Achievements
- Sustainability Strategy: Granite's 2025 Sustainability Report emphasizes creating enduring value through social responsibility, environmental stewardship, and dependable governance, showcasing the company's leadership in infrastructure solutions aimed at supporting more prosperous and resilient communities.
- Safety Record Achievement: The report highlights that 2025 marked the safest year in Granite's history, reflecting the company's ongoing commitment to safety and health, which enhances its reputation and competitiveness in the industry.
- Energy Efficiency Investment: Granite has committed $16 million companywide to improve energy efficiency at materials facilities, which not only helps reduce operational costs but also strengthens the company's sustainability capabilities, driving long-term business growth.
- Climate Risk Assessment: The company conducted its first scenario analysis for climate risks, demonstrating Granite's proactive approach to addressing climate change, further solidifying its leadership position in sustainability within the industry.
See More
Granite Construction Q1 2026 Earnings Highlights
- Acquisition Impact: Granite Construction announced the acquisition of Kenny Seng Construction, expected to add approximately $150 million in annual revenue with an adjusted EBITDA margin in the high teens, thereby enhancing the company's competitive position in the market.
- Financial Performance: In Q1, revenue increased by 30% year-over-year to $912 million, with adjusted net income rising by $12 million and adjusted EBITDA increasing by $30 million to $58 million, demonstrating the company's strong profitability and growth potential.
- Outlook Revision: The company raised its 2026 revenue guidance to a range of $5.2 billion to $5.4 billion, reflecting the positive impact of new tactical infrastructure contracts and the acquisition, while also increasing adjusted EBITDA margin guidance to 12.25% to 13.25%, indicating management's confidence in future growth.
- CapEx and Cash Flow: Despite a $300 million reduction in funding due to the cancellation of a California public project, Granite reported a capital expenditure of $7.2 billion, showcasing its resilience in project execution and financial management.
See More
Apple, Sandisk, and Roku Shine as Market Hits New Highs
- Market Highs: The stock market reached new highs amid falling oil prices, with Apple, Sandisk, and Roku emerging as key movers, reflecting strong investor confidence in tech stocks that may drive future investment inflows.
- Apple's Strong Performance: Apple's stock rose due to new product launches and sustained consumer demand, showcasing its leadership position and strong brand influence in the market, potentially enhancing its market share further.
- Sandisk's Growth Potential: Sandisk's performance growth is driven by rising demand for data storage, particularly in cloud computing and big data sectors, which is expected to propel its future revenue growth and market expansion.
- Roku's Market Rebound: Roku's stock rebounded due to increased demand for streaming services, indicating its adaptability and growth potential in the competitive streaming market, which may attract more investor attention.
See More
Granite (GVA) Q1 2026 Earnings Call Transcript
See More
Granite Construction Q1 Earnings Exceed Expectations
- Strong Earnings Performance: Granite Construction reported a Q1 non-GAAP EPS of $0.26, beating expectations by $0.87, indicating robust profitability that is likely to positively influence stock prices.
- Significant Revenue Growth: The company achieved Q1 revenue of $912 million, a 30.3% year-over-year increase, surpassing market expectations by $129.74 million, reflecting strong demand and an increase in market share in the infrastructure sector.
- Upgraded 2026 Fiscal Guidance: Granite raised its 2026 revenue guidance to a range of $5.2 billion to $5.4 billion, significantly above the previous consensus of $4.96 billion, demonstrating confidence in future growth and a positive market outlook.
- Optimized Cost Control: The adjusted EBITDA margin is now expected to be between 12.25% and 13.25%, while SG&A expenses as a percentage of revenue have been lowered to 8.25% to 8.75%, enhancing the company's profitability and financial health.
See More
Granite Construction Q1 Earnings Preview
- Earnings Announcement Date: Granite Construction is set to release its Q1 earnings on April 30 before market open, with a consensus EPS estimate of -$0.61, reflecting a staggering 6200% year-over-year decline, indicating significant challenges ahead for the company.
- Revenue Expectations: The revenue estimate stands at $782.26 million, representing an 11.8% year-over-year increase, suggesting that despite declining profitability, the company may be performing well in securing new projects.
- Historical Performance Review: Over the past two years, Granite has beaten EPS estimates 75% of the time and revenue estimates 63% of the time, indicating a relative stability in financial forecasting despite current challenges.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen one upward revision and two downward revisions, while revenue estimates have experienced no upward revisions and two downward revisions, reflecting a weakening market confidence in the company's future performance.
See More
Granite Releases 2025 Sustainability Report Highlighting Key Achievements
- Sustainability Strategy: Granite's 2025 Sustainability Report emphasizes creating enduring value through social responsibility, environmental stewardship, and dependable governance, showcasing the company's leadership in infrastructure solutions aimed at supporting more prosperous and resilient communities.
- Safety Record Achievement: The report highlights that 2025 marked the safest year in Granite's history, reflecting the company's ongoing commitment to safety and health, which enhances its reputation and competitiveness in the industry.
- Energy Efficiency Investment: Granite has committed $16 million companywide to improve energy efficiency at materials facilities, which not only helps reduce operational costs but also strengthens the company's sustainability capabilities, driving long-term business growth.
- Climate Risk Assessment: The company conducted its first scenario analysis for climate risks, demonstrating Granite's proactive approach to addressing climate change, further solidifying its leadership position in sustainability within the industry.
See More
