Granite Construction Reports Record Q3 2026 Revenue and Strong Growth Targets
Granite Construction (GVA) reported strong third-quarter 2026 results, with revenue reaching $1.77 billion, a 23.1% increase year-over-year. This growth was fueled by robust project execution and recent acquisitions. The company's Committed and Awarded Projects (CAP) reached a record high of $7.5 billion, signaling a healthy bidding environment across its construction and materials segments. Looking ahead, management set ambitious 2029 targets, aiming for an organic revenue CAGR of 10% to 12% and adjusted EBITDA margins between 14% and 16%. While the Materials segment faced margin pressure due to energy surcharges offsetting diesel costs, the Construction segment saw significant margin improvement. The company is also expanding into mission-critical infrastructure, including data centers and space sector projects.
Tickers: $GVA
Topics: Backlog/CAP EPS Increase Financial Guidance Revenue Growth Segment Performance