Granite reports Q3 adjusted EPS $2.70, consensus $2.50

Reports Q3 revenue $1.43B, consensus $1.48B. “Our third quarter results demonstrate solid progress toward our 2027 financial targets,” said Kyle Larkin, Granite (GVA) President and Chief Executive Officer. “Our CAP reached $6.3 billion, which is a new record, with a number of projects ramping up in the third quarter that should accelerate growth in the fourth quarter and into 2026. Year-over-year gross profit margin gains in both segments were led by exceptional results in the Materials segment. In addition, we continued to execute on our strategy to support and strengthen our existing vertically-integrated home markets with the acquisition of Cinderlite, a business that should bolster our Nevada operations. Robust public and private markets, disciplined project selection and execution, and strategic M&A opportunities position Granite to finish 2025 strong and achieve top- and bottom-line growth in 2026 in line with our financial targets.”