Quarterly ResultApr 30, 2026, 06:51 AM
GVA Q1 Revenue +30% to $912M; Raises FY26 Guidance
AI Summary
Granite Construction reported strong Q1 2026 results with revenue increasing 30% year-over-year to $912 million. The company achieved adjusted net income of $12 million and adjusted EBITDA of $58 million, up 106%. Committed and Awarded Projects reached a record $7.2 billion, and the acquisition of Kenny Seng Construction was completed. Based on this performance, GVA raised its fiscal year 2026 guidance for revenue and adjusted EBITDA margin.
Key Highlights
- Q1 revenue increased 30% year-over-year to $912 million.
- Q1 adjusted net income was $12 million, up from $0.2 million in prior year.
- Q1 adjusted diluted EPS was $0.26, up from $0.01 in prior year.
- Q1 adjusted EBITDA increased 106% year-over-year to $58 million.
- Committed and Awarded Projects (CAP) grew to a record $7.2 billion.
- Completed the acquisition of Kenny Seng Construction on April 23, 2026.
- Raised FY26 revenue guidance to $5.2 billion-$5.4 billion from $4.9 billion-$5.1 billion.
- Raised FY26 adjusted EBITDA margin guidance to 12.25%-13.25% from 12.0%-13.0%.