Granite Construction Incorporated (GVA) Earnings
Granite Construction Incorporated is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $2.26. GVA has beaten EPS estimates in 9 of its last 12 reported quarters (average surprise +21.3% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $-0.77 | $-0.26 | +66.1% | $912M | +16.6% |
| Feb 12, 2026 | $1.34 | $1.40 | +4.5% | $1.2B | +45.8% |
| Nov 6, 2025 | $2.56 | $2.70 | +5.5% | $1.4B | +24.9% |
| Aug 7, 2025 | $1.77 | $1.93 | +9.0% | $1.1B | -19.7% |
| May 1, 2025 | $-0.43 | $0.01 | +102.3% | $700M | -40.0% |
| Feb 13, 2025 | $1.42 | $1.23 | -13.4% | $977M | +38.3% |
| Oct 31, 2024 | $2.47 | $2.05 | -17.0% | $1.3B | +34.3% |
| Aug 1, 2024 | $1.32 | $1.73 | +31.1% | $1.1B | +7.3% |
| May 2, 2024 | $-0.49 | $-0.21 | +57.1% | $672M | -33.3% |
| Feb 22, 2024 | $0.84 | $0.82 | -2.4% | $934M | +11.3% |
| Oct 31, 2023 | $1.45 | $1.69 | +16.6% | $1.1B | +3.4% |
| Jul 27, 2023 | $0.83 | $1.03 | +24.1% | $899M | -2.8% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Recent acquisitions: Guided by disciplined M&A framework. Recently acquired Kenny Sane Construction, expected to add ~$150M annual revenue with high EBITDA margin. - Construction segment: Cap at $7.2B, $200M increase from Q4. Federal business positioned to generate >15% of construction segment revenue. State and private sectors have strong funding and bidding opportunities. - Materials segment: Strong start, demand across geographies, margin improvement on track. Mitigate energy price fluctuations through various methods.
Guidance
- Increased revenue guidance to $5.2 - $5.4B from $4.9 - $5.1B, due to tactical infrastructure contract and Kenny Sane Construction. - Decreased SG&A as % of revenue to 8.25 - 8.75% from 8.5 - 9%. - Increased adjusted EBITDA margin guidance to 12.25% - 13.25% from 12% - 13%. - CAP-X guidance $140 - $160M unchanged. Estimated adjusted effective tax rate mid-20s unchanged.
Segment performance
Construction segment: Revenue increased $151 million, or 25% year-over-year, to $766 million. $43 million from acquired businesses, $108 million organic. Gross profit increased with higher revenue but margin decreased due to prior year claim settlement revision. Materials segment: Revenue increased $61 million year-over-year to $146 million, gross profit up $9 million to $8 million. Cash gross profit increased $15 million to $26 million, 18% of revenue. Acquired businesses led growth, organic volume also increased.
Risks & headwinds
- Actual results could differ materially from forward-looking statements. - Risks related to construction project cancellations, energy price fluctuations, and market conditions affecting business performance.
Analyst Q&A
Q: Congrats on good results, good acquisition. Talk about growth story for KSC on revenue/margin.
A: KSC does ~$150M revenue annually, expects $100M in 2025, high EBITDA margin. Can support scale, bring different end markets.
Q: Warren deal going well, talk about demand.
A: Warm paving acquisition performing well, materials business had nice quarter with volume and cash gross profit growth.
Q: SG&A leverage, break out border wall work vs KSC.
A: SG&A change driven by revenue increase, $200M from tactical infrastructure job and $100M from KSC.
Q: Federal exposure, compare margins/risk/collections.
A: Federal business grown from <5% to around 10%, expects to be >15% of revenue. Have experience in various federal projects.
Q: CAP outlook, California job, construction margins.
A: Cap growing, California project unique, scope exceeded funding. Construction margins adjusted for one-time recovery are on track.
Q: Tactical infrastructure projects, risk parameters, margins.
A: Two projects in Texas, quick burn. Mitigate risks like schedule, remoteness, contractors/suppliers. Energy costs mitigated by surcharges, fixed-forward contracts, etc.