Granite Construction (GVA) is moving higher as investors continue to reprice the stock following a stronger-than-expected Q1 2026 report and a material guidance increase. The company posted Q1 revenue of about $912 million (up ~30% year over year) and reported EPS of $0.26, then raised full-year 2026 revenue guidance to $5.2–$5.4 billion (from $4.9–$5.1 billion) while also increasing its adjusted EBITDA margin outlook.

Beyond the headline beat, the market focus is on the upward reset to 2026 expectations and implied operating leverage. The company’s updated outlook points to higher activity levels and improved profitability versus its prior plan, which is particularly impactful for a contractor where incremental volume can translate into better absorption of fixed costs.

Granite tied the higher outlook to strong performance early in the year, additional committed and awarded projects (CAP), and the incremental contribution from its recently completed acquisition of Kenny Seng Construction, which expands Granite’s vertically integrated construction/materials footprint in Utah. The combination of improved execution and added capacity has supported investor confidence in the durability of the revised full-year targets.