Earnings ·
Granite Construction reported a net loss of $278 million for the second quarter ended June 30, 2026, compared to net…
GVAGranite Construction Inc
Granite Construction reported a net loss of $278 million for the second quarter ended June 30, 2026, compared to net income of $72 million in the prior year. The loss was driven by a $360 million non-operating charge related to cash settlements of its 3.75% convertible notes. Adjusted net income rose to $101 million from $86 million, and revenue increased 29% year-over-year to $1.46 billion. The company raised its full-year 2026 revenue guidance by $100 million to a range of $5.3 billion to $5.5 billion. Committed and Awarded Projects grew sequentially by $250 million to $7.4 billion, while adjusted EBITDA increased 22% to $186 million. Granite Construction Incorporated operates as a diversified vertically-integrated civil contractor and construction materials producer in the United States.