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Granite Construction (GVA)
NYSE:GVA
Earnings Data
Report Date
Apr 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.72Last Year’s EPS
-0.77Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong, broad-based financial and operational progress: record backlog, double-digit revenue growth, meaningful margin expansion, transformative Materials performance with substantial reserve growth, strong cash generation, and clear 2026 guidance targeting further EBITDA margin improvement. Challenges noted include weather-related delays, certain 2025 cash benefits that were non-recurring, reliance on continued successful M&A (with leverage considerations), and uncertainty/timing around federal funding and large federal programs (e.g., border work). Overall, positives around organic performance, successful integrations, and clear guidance materially outweigh the enumerated risks.Company Guidance
Record Backlog (CAP) Expansion
Contract backlog (CAP) reached a record $7,000,000,000 at year-end 2025, increasing sequentially by $632,000,000 in the fourth quarter, with best value work representing ~48% of CAP (roughly 50/50 best value vs bid-build).
Strong Top-Line Growth
Full-year 2025 revenue increased 10% year-over-year to $4,400,000,000; Construction segment revenue rose $119,000,000 (14% YoY) to $940,000,000, with Q4 organic Construction revenue growth of 7% YoY as projects ramped.
Significant Profitability Improvement
Full-year gross profit grew 24% to $711,000,000. Adjusted EBITDA increased 31% to $527,000,000, with adjusted EBITDA margin up to 11.9% from 10.0% in 2024. Adjusted net income rose 29% to $276,000,000.
Construction Margin Expansion Since 2020
Construction segment gross profit margin improved meaningfully from 8.8% in 2020 to 15.7% in 2025, reflecting a shift to higher-quality, higher-margin work and stronger execution.
Materials Business Transformation and Margin Gains
Materials cash gross profit margin improved from 19% in 2023 to 26% in 2025 (full year). For the quarter, cash gross profit increased $10,000,000 YoY to $47,000,000 (21% of revenue). Materials revenue grew $69,000,000 YoY to $225,000,000.
Reserves and Strategic Acquisitions
Completed three acquisitions in 2025 (Warren Paving, Pappage Construction, CinderLite). Aggregate reserves and resources increased 34% YoY to 2,100,000,000 tons, more than doubling reserves over five years. Acquisitions were margin-accretive and expanded geographic footprint.
Strong Cash Generation and Balance Sheet Liquidity
Operating cash flow increased 3% to $469,000,000 (10.6% of revenue). Ended 2025 with $650,000,000 in cash and marketable securities, $1,300,000,000 of debt, and $583,000,000 available on the revolver, supporting continued M&A and capital investments.
Disciplined Capital Allocation & 2026 Guidance
2025 CapEx was $138,000,000, acquisitions totaled $778,000,000, dividends $23,000,000, and 300,000 shares repurchased. 2026 guidance targets revenue $4.9B–$5.1B, adjusted EBITDA margin 12%–13%, SG&A 8.5%–9% of revenue (including ~$48M stock-based comp), and CapEx $140M–$160M (including ~$50M strategic Materials CapEx).
Operational Execution & Safety
Management highlighted improved execution and safety performance, calling 2025 their 'safest year yet' and noting acquisitions are integrating well and often outperforming expectations.
GVA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
GVA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 12, 2026 | $133.17 | $129.22 | -2.97% |
Nov 06, 2025 | $102.76 | $99.39 | -3.28% |
Aug 07, 2025 | $93.23 | $100.82 | +8.14% |
May 01, 2025 | $81.08 | $79.16 | -2.36% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Granite Construction (GVA) report earnings?
Granite Construction (GVA) is schdueled to report earning on Apr 30, 2026, Before Open (Confirmed).
What is Granite Construction (GVA) earnings time?
Granite Construction (GVA) earnings time is at Apr 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GVA EPS forecast?
GVA EPS forecast for the fiscal quarter 2026 (Q1) is -0.72.