Granite Construction Earnings Call Transcripts
Fiscal Year 2026
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The meeting, held virtually, covered board elections, executive compensation, and auditor ratification. All proposals passed with a quorum of over 90% of shares represented, and final results will be filed by June 10, 2026.
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Revenue grew 30% year-over-year to $912 million, driven by strong organic and acquisition growth, with raised full-year guidance reflecting robust demand and successful integration of new businesses. Margin expansion and disciplined capital allocation position the company for continued growth.
Fiscal Year 2025
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Record CAP and strong execution drove double-digit revenue and profit growth in 2025, with robust guidance for 2026 and continued margin expansion expected. Strategic acquisitions and disciplined project selection underpin a positive outlook, supported by strong public and private market demand.
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Third-quarter results showed double-digit growth in revenue, profit, and cash flow, driven by strong public market demand and recent acquisitions. Margin expansion in both construction and materials segments is ahead of expectations, supporting raised guidance for EBITDA margin and continued organic growth.
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Announced two major acquisitions expected to add $425 million in annual revenue and boost margins, with Q2 showing strong growth in revenue, profit, and project backlog. Raised 2025 guidance and 2027 margin targets, supported by robust public funding and expanded credit facilities.
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Q1 results showed strong revenue and margin growth, with record CAP and robust public sector demand. Guidance for 2025 is maintained, supported by ongoing investments in materials and active M&A, while risk from tariffs and inflation remains contained.
Fiscal Year 2024
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Record 2024 results with 14% revenue growth, 44% higher gross profit, and strong cash flow. 2025 guidance targets $4.2–$4.4B revenue, 11%-12% Adjusted EBITDA Margin, and continued margin expansion through organic growth, M&A, and strategic investments.
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Record third quarter revenue and margin expansion were driven by strong public and private markets, strategic acquisitions, and disciplined project selection. Guidance for 2024 remains robust, with continued focus on organic growth, margin improvement, and capital allocation through M&A and share repurchases.
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Q2 saw 20% revenue growth and 60% higher gross profit, driven by strong CAP and improved execution. The company is acquiring Dickerson & Bowen, expanding its Southeast presence, and raised 2024 revenue guidance to $3.9–$4.0 billion, with robust cash flow and margin outlook.