Granite Construction (NYSE:GVA) releases earnings results, beats estimates by $0.54 EPS. October 29, 2026 Key points. * Granite Construction beat quarterly estimates: The company reported $3.81 in EPS versus the $3.27 consensus, while revenue reached $1.77 billion, up 23.5% year over year and above expectations. * Growth outlook strengthened: Record construction revenue, a $7.5 billion backlog, and improved 2026 guidance support management's expectations for 10%-12% organic revenue growth in 2027. * Profitability was mixed: Adjusted EBITDA rose 31% to $283 million, but materials gross margin declined 420 basis points due to higher energy costs; analysts remain divided, with the stock holding a consensus "Hold" rating and a $158.50 price target. * Five stocks to consider instead of Granite Construction. Granite Construction (NYSE:GVA - Get Free Report) issued its quarterly earnings data on Thursday. The construction company reported $3.81 earnings per share for the quarter, beating analysts' consensus estimates of $3.27 by $0.54, FiscalAI reports. The business had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.70 billion. Granite Construction had a negative net margin of 3.32% and a positive return on equity of 27.83%. The company's revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.98 earnings per share. Here are the key takeaways from Granite Construction's conference call: * Record third-quarter performance: Revenue rose 23% year over year to $1.8 billion, while adjusted EBITDA increased 31% to $283 million. Construction revenue grew 27%, and construction gross margin expanded 210 basis points, supported by strong execution and disciplined project selection. * Guidance and backlog strengthened: Granite raised the low end of its 2026 revenue outlook to $5.4 billion from $5.3 billion and expects 10%-12% organic revenue growth in 2027. Construction CAP reached a record $7.5 billion, providing significant visibility into future revenue. * Long-term growth opportunities remain broad: Management reiterated its targets for 10%-12% organic revenue CAGR and 14%-16% adjusted EBITDA margins by 2029. Federal, rail, and mission-critical infrastructure - including data centers, space, and battery storage - are expected to complement mid-single-digit growth in core transportation markets. * Materials margins were pressured: Materials gross margin fell 420 basis points because higher energy costs and related surcharges increased revenue but reduced incremental margins. Management said underlying unit economics remained solid and expects margins to improve as energy costs normalize, pricing, volume, vertical integration, and automation contribute. * Cash generation supports capital allocation: Year-to-date operating cash flow reached $404 million, up from $290 million a year earlier, and the company remains on track for its 2026 cash-flow target. Granite plans to continue investing organically, pursue acquisitions, and consider share repurchases while maintaining a long-term net leverage target of approximately 2.5 times. Granite Construction price performance. GVA stock traded up $9.77 on Thursday, hitting $121.44. 1,645,249 shares of the company's stock traded hands, compared to its average volume of 696,606. Granite Construction has a 1-year low of $97.26 and a 1-year high of $162.08. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 17.29 and a beta of 1.34. The stock has a fifty day moving average of $115.78 and a 200-day moving average of $126.39. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.46. Granite Construction announces dividend. The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Wednesday, September 30th. Granite Construction's payout ratio is presently -12.06%. Insider transactions at Granite Construction. In related news, Director Carlos M. Hernandez purchased 400 shares of the company's stock in a transaction on Thursday, August 6th. The shares were bought at an average price of $123.99 per share, with a total value of $49,596.00. Following the completion of the acquisition, the director owned 5,033 shares of the company's stock, valued at approximately $624,041.67. This represents a 8.63% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.88% of the company's stock. Wall Street analyst weigh in. A number of analysts have commented on the stock. Oppenheimer boosted their price target on shares of Granite Construction from $170.00 to $180.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Wall Street Zen cut shares of Granite Construction from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. The Goldman Sachs Group lowered their price objective on shares of Granite Construction from $139.00 to $119.00 and set a "sell" rating on the stock in a research note on Friday, July 31st. Finally, Weiss Ratings cut Granite Construction from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Granite Construction presently has an average rating of "Hold" and a consensus price target of $158.50. Discover more MarketBeat All Access MarketBeat Research Tools About Granite Construction. Granite Construction Incorporated NYSE: GVA is an infrastructure construction company that provides engineering, construction and rehabilitation services for public and private-sector clients. The company's work supports transportation, water and other essential infrastructure projects across the United States. Granite's transportation activities include the construction and maintenance of highways, roads, bridges, airports, rail systems and other transit facilities. Its water-related services include the development and improvement of water treatment and distribution systems, wastewater facilities, dams, pipelines and related infrastructure. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Granite Construction, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Granite Construction wasn't on the list. While Granite Construction currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys. The AI boom extends far beyond the biggest tech names. Discover 10 companies supplying the memory, storage, networking, semiconductor manufacturing, and power infrastructure that make AI possible. Learn where the next wave of AI investment opportunities may emerge - and the key risks investors should watch as the global AI buildout accelerates. Continue following MarketBeat

Granite-Super JV wins $324.8-Million tunnel project in Ohio. The project is part of the $3-billion Project Clean Lake Program to reduce sewer overflows and improve water quality. October 6, 2026 ENR AT-A-GLANCE 5 Things to Know COLLAPSE | $324.8 MILLION CONTRACT A Granite Construction and Super Excavators joint venture will build the Big Creek Tunnel for the Northeast Ohio Regional Sewer District in the Cleveland area. 22,300 FT OF 20-FT-DIA TUNNEL The project includes 22,300 linear ft of 20-ft-dia tunnel plus 3,115 linear ft of ancillary tunnels, including adits and overflow, connecting and dewatering tunnels. FINAL PROJECT CLEAN LAKE TUNNEL Big Creek is the last of seven large-diameter combined sewer overflow storage tunnels planned under NEORSD's $3-billion, 24-year Project Clean Lake program. 550 MILLION GALLONS A YEAR Once complete, the tunnel is expected to eliminate about 550 million gallons of combined sewer releases annually and help NEORSD meet federal Clean Water Act requirements. WINTER 2030 COMPLETION Construction is scheduled to begin in fall 2026 and finish in winter 2030, with work also including shafts, diversion and screening structures, gate control vaults, consolidation sewers and an overflow box culvert. A Granite Construction and Super Excavators joint venture has been chosen to build the planned $324.8-million Big Creek Tunnel for the Northeast Ohio Regional Sewer District in the Cleveland area. The project, announced Oct. 1, is the seventh and final large-diameter storage tunnel in the district's $3-billion Project Clean Lake program, launched in 2011 to reduce combined sewer overflows and improve regional water quality. The program, which resulted from federal and state consent decrees addressing overflows into Lake Erie and its tributaries, involves tunnels, treatment plant improvements, collection system projects and green infrastructure. Work is expected to include construction of a 22,300-ft-long, 20-ft-diameter main tunnel, plus about 3,115 ft of ancillary tunnels, including adits and overflow, connecting and dewatering tunnels. The project also includes shafts, diversion structures, gates and screening structures, consolidation sewers, and overflow box culvert, utilities, sitework and restoration. The rock-bored tunnel will capture flows from 11 combined-sewer-overflow outfalls, preventing about 550 million gallons of annual sewer discharges into Big Creek and its tributaries. It will span more than four miles, measure 20 ft in diameter and run 50-100 ft beneath Cleveland, Linndale and Brooklyn, Ohio. The Big Creek Tunnel includes more than four miles of 20-foot-diameter tunnel, built in rock, 50 to 100 ft beneath Cleveland, Linndale, and Brooklyn, Ohio. Image courtesy of the Northeast Ohio Regional Sewer District Major structures planned include multiple shafts, diversion structures, gate and screening structures, gate control vaults, consolidation sewers, and an overflow box culvert, along with associated sitework, restoration, and utilities. "The scale and complexity of this project align directly with Granite's strengths in large-diameter tunneling and shaft construction," Granite Tunnel Division Vice President Jim Nickerson said in a news release. "This is a major wastewater infrastructure project, and it will strengthen system performance and protect local waterways across Northeast Ohio." The Granite-Super JV submitted the lowest of four bids. The price was about 8% above the district's roughly $300-million estimate. Detroit-based Wade Trim is the lead designer, with KS Associates providing surveying services. Construction, now set to begin, would complete in late 2030, although the district says work could continue into 2031. SPONSORED BY Hi there. I'm Ask ENR. You can ask me anything about construction and engineering, and I'll help find the content you're Annemarie Mannion is editor of ENR Midwest, which covers 13 states. She joined ENR in 2022 and reports from Chicago.

Granite-Super JV lands $324.8M Big Creek Tunnel contract in Cleveland. Published on Oct 1, 2026 Discover more Hire Contractors construction The Granite-Super Joint Venture has won a $324.8 million contract from the Northeast Ohio Regional Sewer District (NEORSD) to construct the Big Creek Tunnel in Cleveland, Ohio. The project is the seventh and final large-diameter storage tunnel under NEORSD's $3 billion Project Clean Lake program, which aims to reduce combined sewer overflows and improve water quality across Northeast Ohio. Construction is scheduled to begin in fall 2026 and is expected to be completed in winter 2030. 22,300-foot tunnel anchors the project. The main component of the project is a 22,300-linear-foot tunnel with a diameter of 20 feet. Discover more Browse Magazines Hire PM Experts The contract also includes approximately 3,115 linear feet of ancillary tunnels, including adits, an overflow tunnel, a connecting tunnel and a dewatering tunnel. Other major components include shafts, diversion structures, gate and screening structures, gate-control vaults, consolidation sewers and an overflow box culvert. The work also includes associated utilities, sitework and restoration. The tunnel system will provide additional underground storage for combined sewer flows during wet-weather events, reducing the amount of combined sewer overflow reaching local waterways. NEORSD estimates that the completed project will eliminate approximately 550 million gallons of combined sewer releases annually. Final major tunnel in Project Clean Lake. The Big Creek Tunnel is the seventh and final large-diameter storage tunnel being constructed under Project Clean Lake. Discover more NEORSD launched the 24-year program in 2011 to address combined sewer overflows and improve water quality. The program combines large underground storage tunnels with wastewater treatment improvements and green infrastructure. The broader program represents approximately $3 billion in planned investment. NEORSD has reported that Project Clean Lake has already eliminated about 2 billion gallons of annual combined sewer overflow. The Big Creek project will extend the program's underground storage network into the Big Creek watershed. In addition to reducing sewer discharges, the project is expected to help reduce wet-weather flooding. Contract follows 2026 procurement. The tunnel contract follows NEORSD's 2026 procurement process for the project, identified as EB-2511. The district issued its invitation for bids in April 2026. Procurement documents put the engineer's estimate for the work at approximately $300 million. Wade Trim designed the project. The $324.8 million contract is about 8% above the engineer's $300 million estimate. Construction will begin in fall 2026 and finish in winter 2030. Big Creek Tunnel project factsheet. * Project: Big Creek Tunnel * Location: Cleveland, Ohio * Owner: Northeast Ohio Regional Sewer District * Contract value: $324.8 million * Contractor: Granite-Super Joint Venture * Joint venture partner: Super Excavators * Designer: Wade Trim * Main tunnel: 22,300 linear feet * Tunnel diameter: 20 feet * Ancillary tunnels: 3,115 linear feet * Program: Project Clean Lake * Program investment: Approximately $3 billion * Program duration: 24 years * Annual combined sewer releases targeted: Approximately 550 million gallons * Construction start: Fall 2026 * Expected completion: Winter 2030