Quarterly ResultJul 30, 2026, 05:16 PM
Granite Construction Q2 Net Loss $(278.2)M, EPS $(6.36) on Debt Loss
AI Summary
Granite Construction reported a net loss of $(278.2) million, or $(6.36) per diluted share, for the second quarter of 2026, a significant decline from net income in the prior year, primarily due to a $359.7 million loss on convertible debt transactions. Despite this, revenue increased by 29.3% to $1.46 billion. The company also highlighted recent acquisitions, including Kenny Seng Construction, Warren Paving, Papich Construction, and Cinderlite, which contributed to its operational growth and vertical integration strategy.
Key Highlights
- Q2 2026 Net Loss attributable to Granite Construction: $(278.2) million, compared to $71.7 million net income in Q2 2025.
- Q2 2026 Diluted EPS: $(6.36), a decrease from $1.42 in Q2 2025.
- Q2 2026 Revenue: $1.46 billion, a 29.3% increase from $1.13 billion in Q2 2025.
- Loss on convertible debt transactions: $359.7 million for the three months ended June 30, 2026.
- Cash and cash equivalents: $877.1 million as of June 30, 2026, up 65.7% from December 31, 2025.
- Net cash provided by operating activities (H1 2026): $141.5 million, significantly up from $5.4 million in H1 2025.
- Acquired Kenny Seng Construction for $164.1 million in April 2026.
- Acquired Warren Paving for $540.0 million and Papich Construction for $170.0 million in August 2025.
Price Impact
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