Quarterly ResultJul 30, 2026, 06:51 AM
Granite Raises 2026 Revenue Guidance; Q2 Adj. EBITDA +22% to $186M
AI Summary
Granite Construction reported a Q2 2026 net loss of $278 million, or $(6.36) per diluted share, primarily due to a non-operating loss on convertible debt transactions. However, adjusted net income increased to $101 million, or $2.16 per diluted share, up from $86 million in the prior year. The company also raised its 2026 revenue guidance by $100 million to a range of $5.3 billion to $5.5 billion, driven by strong revenue growth and increased Committed and Awarded Projects (CAP).
Key Highlights
- Raised 2026 revenue guidance by $100 million to $5.3 billion-$5.5 billion.
- Q2 revenue increased 29% year-over-year to $1.5 billion.
- Q2 net loss of $278 million, or $(6.36) diluted EPS, due to convertible debt transactions.
- Q2 adjusted net income of $101 million, or $2.16 adjusted diluted EPS.
- Q2 adjusted EBITDA increased 22% year-over-year to $186 million.
- Committed and Awarded Projects (CAP) increased sequentially by $250 million to $7.4 billion.
- Year-to-date operating cash flow increased $136 million year-over-year to $142 million.
Price Impact
More from GVA