Granite Construction — Third Quarter 2026 Earnings Summary

Granite Construction reported third-quarter 2026 revenue of $1.77 billion, a 23% increase year-over-year, driven by higher committed and awarded projects and acquisitions. The company posted a GAAP net loss of $317 million for the first nine months due to $535 million in non-operating charges related to convertible note settlements, while adjusted net income for the same period rose to $287 million. Committed and awarded projects reached a record $7.5 billion, and the company introduced 2029 financial targets projecting an organic revenue compound annual growth rate of 10% to 12%. Additionally, year-to-date operating cash flow increased to $404 million, and the firm maintained its 2026 revenue guidance range of $5.4 billion to $5.5 billion.