Granite Construction (GVA) is higher today after releasing first-quarter 2026 results that topped investors’ focus metrics—strong top-line growth, sharply improved adjusted profitability, and a guidance raise for the full year. The company posted Q1 revenue of $912 million, up 30% year-over-year, while adjusted EBITDA more than doubled to $58 million, and management increased its 2026 outlook for both revenue and adjusted EBITDA margin. (investor.graniteconstruction.com)

While Granite reported a GAAP net loss of $42 million (diluted EPS of -$0.96), adjusted results improved materially: adjusted net income was $12 million and adjusted diluted EPS was $0.26 versus $0.01 a year ago. Management also highlighted Committed and Awarded Projects (CAP) rising sequentially by $200 million to a record $7.2 billion, signaling strong demand and improved visibility. (investor.graniteconstruction.com)

Granite lifted 2026 guidance to revenue of $5.2 billion to $5.4 billion (from $4.9 billion to $5.1 billion previously) and raised adjusted EBITDA margin to 12.25%–13.25% (from 12.0%–13.0%). It also lowered its SG&A-as-a-percent-of-revenue range to 8.25%–8.75%, reinforcing the market’s read-through that operating leverage is improving. (investor.graniteconstruction.com)

Granite said CAP as of March 31, 2026 included $640 million of tactical infrastructure projects for U.S. Customs and Border Protection expected to be substantially realized over 2026 and 2027. The company also pointed to recent project awards and its April 23 acquisition of Kenny Seng Construction in Utah as contributing factors behind the guidance increase and its outlook for continued growth into 2027. (investor.graniteconstruction.com)