Granite reports Q1 adjusted EPS 26c, consensus (61c)

Reports Q1 revenue $912M, consensus $782.26M. “Building on our momentum from the fourth quarter, we are off to a strong start across both our construction and materials segments,” said CEO Kyle Larkin. “In construction, our teams across key federal, state and local and private end markets have been highly active, driving CAP to a new record of $7.2B. Our materials segment is also performing well…We continue to actively evaluate and pursue M&A opportunities and expect to complete several acquisitions this year…Given our Q1 performance and recent project awards, including tactical infrastructure for the U.S. Customs and Border Protection, as well as the acquisition of Kenny Seng Construction, we are increasing our FY26 guidance. We expect 2026 to be a year of meaningful growth and believe Granite (GVA) is positioned for continued growth in 2027.”