Granite Construction Q1 2026 Earnings Results and Guidance Increase

Granite Construction reported first quarter 2026 results with revenue increasing 30% year-over-year to $912 million, though the company posted a net loss of $42 million compared to a $34 million loss in the prior year. On an adjusted basis, net income was $12 million versus $0.2 million last year. Adjusted EBITDA increased 106% to $58 million. The company's Committed and Awarded Projects (CAP) reached a record $7.2 billion, up $200 million sequentially. Granite completed the acquisition of Kenny Seng Construction on April 23, 2026, expanding its Utah market presence. Based on strong first quarter performance and recent project awards, including tactical infrastructure projects for U.S. Customs and Border Protection, the company raised its 2026 fiscal year guidance. Revenue guidance was increased to $5.2-$5.4 billion from $4.9-$5.1 billion, and adjusted EBITDA margin guidance was raised to 12.25%-13.25% from 12.0%-13.0%.