Granite Construction Q1 revenue jumps 30%, beats estimates

Granite Construction Incorporated

30/04/2026 11:56

Overview

U.S. civil contractor's Q1 revenue rose 30% yr/yr, beating analyst expectations

Adjusted EPS for Q1 turned positive and beat analyst expectations

Company completed Kenny Seng Construction acquisition and raised 2026 guidance

Outlook

Granite raises 2026 revenue guidance to $5.2 bln-$5.4 bln from $4.9 bln-$5.1 bln

Company lifts 2026 adjusted EBITDA margin outlook to 12.25%-13.25% from 12.0%-13.0%

Granite lowers 2026 SG&A expense forecast to 8.25%-8.75% of revenue, including $48 mln stock comp

Result Drivers

CAP AND ACQUISITIONS - Construction segment revenue grew due to higher committed and awarded projects and contributions from Warren Paving and Papich Construction acquisitions

STRONG MATERIALS DEMAND - Materials segment revenue and profit rose on strong demand for aggregates and asphalt, with $50 mln contributed by recent acquisitions

PROJECT EXECUTION - Improved execution across project portfolio contributed to gross profit growth in construction segment

Company press release: ID:nBw5kl2Lva

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$912 mln
$782.26 mln (3 Analysts)
Q1 Adjusted EPS
Beat
$0.26
-$0.61 (3 Analysts)
Q1 EPS
-$0.96
Q1 Adjusted Net Income
Beat
$12 mln
-$6.70 mln (1 Analyst)
Q1 Net Income
-$42 mln
Q1 Adjusted EBITDA
Beat
$58 mln
$33.94 mln (2 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the construction & engineering peer group is "buy"

Wall Street's median 12-month price target for Granite Construction Inc is $160.00, about 30.6% above its April 29 closing price of $122.55

The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 19 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)