Granite Construction Reports $4.13B Revenue, $316.65M Net Loss for 9M 2026
Granite Construction Inc. reported its third-quarter financial results, showing a significant increase in revenue for the nine months ended September 30, 2026, to $4.13 billion from $3.26 billion in the prior year. However, the company incurred a net loss attributable to shareholders of $316.65 million for the same period, a reversal from a net income of $140.97 million in the prior year, resulting in a diluted loss per share of $7.23 compared to earnings of $2.83. The company also detailed several acquisitions, including Kenny Seng Construction, Warren Paving, Papich Construction, and an asphalt terminal entity, reflecting strategic expansion efforts.
Key Highlights
- Revenue for the nine months ended September 30, 2026, was $4.13 billion, an increase from $3.26 billion in the prior year.
- Net income attributable to Granite Construction Incorporated for the nine months ended September 30, 2026, was a loss of $316.65 million, compared to a net income of $140.97 million in the prior year.
- Diluted loss per share for the nine months ended September 30, 2026, was $7.23, compared to diluted earnings per share of $2.83 in the prior year.
- Acquired Kenny Seng Construction for $164.1 million in cash on April 23, 2026.
- Acquired Warren Paving for $540.0 million in cash on August 5, 2025.
- Acquired Papich Construction for $170.0 million in cash on August 5, 2025.
- Acquired the remaining 50% ownership interest in an asphalt terminal entity for $38.3 million in cash on September 9, 2026.
Price Impact
More from GVA
Granite Construction Settles $273.7M Convertible Notes; $148M from Capped Call Unwind
Granite Construction Appoints George L. Nash, Jr. to Board
Granite Construction Unwinds Capped Calls, Redeems $273.7M Convertible Notes