Granite Construction Inc. reports news on its U.S. civil infrastructure construction business and construction materials operations. Company updates commonly cover quarterly results, Committed and Awarded Projects, project awards for highways, bridges, tactical infrastructure, transit corridors and roadway rehabilitation, and the use of aggregates, asphalt and other materials within its vertically integrated platform.
Granite news also includes capital allocation and corporate development items, including quarterly dividends and completed acquisitions that expand regional construction and materials markets. The company, incorporated since 1922, serves public and private infrastructure customers and reports developments tied to project selection, public-market funding, materials production, and geographic expansion.
Granite (NYSE:GVA) reported Q2 2026 revenue of $1.46 billion, up 29% year-over-year, and adjusted net income of $101 million, or $2.16 per diluted share, versus $86 million and $1.93 a year earlier. Adjusted EBITDA rose 22% to $186 million and CAP increased sequentially by $250 million to $7.4 billion.
According to Granite, GAAP results showed a net loss attributable to Granite of $278 million, or $(6.36) per diluted share, primarily due to a $360 million non-operating loss on convertible debt transactions tied to its 3.75% convertible notes. For the first six months, revenue grew to $2.37 billion from $1.83 billion, with adjusted EBITDA up to $244 million from $180 million and operating cash flow rising to $142 million from $5 million. Granite raised 2026 revenue guidance by $100 million to a range of $5.3–$5.5 billion while keeping targets for adjusted EBITDA margin, SG&A ratio, tax rate and capital expenditures unchanged.
Granite (NYSE: GVA) subsidiary Memphis Stone & Gravel has opened its new six-acre River Yard aggregate sales facility in Memphis, Tennessee. Located on the Mississippi River, it receives limestone by barge from Warren Paving’s Slats Lucas Quarry, enabling Memphis Stone & Gravel to re-enter the stone market and broaden Granite’s Southeast materials portfolio from July 2026.
Granite (NYSE:GVA) has been awarded an approximately $50 million contract by Pacific Gas and Electric for the Tiger Creek Regulator Dam Spillway Replacement in Amador County, California. The project will be included in Granite’s second quarter 2026 CAP.
The work, part of PG&E’s Mokelumne River Hydroelectric Project, involves building a new spillway to replace the existing 1931 structure, aimed at enhancing dam safety, operational reliability, and regulatory compliance. Granite’s scope includes constructing the spillway crest and chute, a temporary cofferdam, excavation and rock anchoring, concrete placement, decommissioning of the old spillway, and new permanent access road improvements. A separate preconstruction contract of about $600,000 was completed in 2024. Construction began in May 2026, with completion expected in May 2028.
Granite (NYSE: GVA) will release its financial results for the quarter ended June 30, 2026, before the market opens on Thursday, July 30, 2026. The company will host an investor conference call at 8:00 a.m. PT the same day, with live webcast and replay access.
Granite (NYSE:GVA), leading Keystone Bridge Partners JV, has been selected by the Regional Transportation Commission of Washoe County to provide CMAR preconstruction services for the Keystone Avenue Bridge Replacement in Reno, Nevada.
The structurally deficient 1966 bridge will be replaced, with preconstruction running Q2 2026–Q1 2028 and major construction targeted for Q2 2028–Q3 2029. When awarded, the construction phase is anticipated at $50–$60 million.
Granite (NYSE:GVA) has been awarded the West Davis Corridor (SR-177) expansion project by the Utah Department of Transportation. The contract is valued at approximately $116.9 million and will be included in Granite’s Q2 2026 CAP.
The West Point, Utah project extends the corridor by about three miles, adding nine bridges, two pedestrian crossings, roughly 70,000 tons of asphalt paving, and over one million cubic yards of borrow material. Granite will supply materials from its Wells Pit and West Haven AC Plant.
Granite (NYSE:GVA) declared a quarterly cash dividend of $0.13 per common share. The dividend will be paid on July 15, 2026 to shareholders of record as of the close of business on June 30, 2026.
Granite (NYSE:GVA) received an approximately $19 million Progressive Design-Build Guaranteed Maximum Price 1 contract for the Tahoe Cedars Water System Replacement Project from the Tahoe City Public Utility District.
The initial phase runs from mid-June 2026 to October 2026 and is part of a four-year program to modernize aging water infrastructure, improve reliability, cut water loss, and enhance fire protection for the Tahoe Cedars community.
Granite (NYSE:GVA) was awarded a $41 million road construction and widening contract in Orange County, Florida. The project covers All American Boulevard realignment, a new intersection at Clarcona Ocoee Road/Edgewater Drive, and Kennedy Boulevard widening and intersection upgrades.
Funding comes from Orange County Public Works and the Florida Department of Transportation, with support from Orange County Utilities. Work is expected to start in June 2026 and finish by January 2029, and the contract will be added to Granite’s Q2 2026 CAP.
Granite (NYSE:GVA) will redeem all outstanding 3.75% Convertible Senior Notes due 2028 on August 10, 2026 at 100% of principal plus accrued interest. Holders may convert until August 6, 2026 at an increased rate of 21.8116 shares per $1,000. Granite plans cash-and-stock settlement and to unwind related capped call transactions.