Filing Flows › Granite Construction (GVA) › Q1 2025
Granite Construction (GVA) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Granite Construction (GVA) reported revenue of $700M for the first quarter 2025 (Q1 2025), +4% from a year earlier and -28% from the quarter before. Operating margin was -5.7%, net loss $28.3M (4.0% of revenue).
Granite Construction, Q1 2025: revenue $700M (+4% year over year), operating margin -5.7%, net loss $28.3M, operating cash flow $3.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $700M | -28% | +4% |
| Operating profit | −$39.8M | — | — |
| Net earnings | −$28.3M | — | — |
| Operating cash flow | $3.6M | -98% | -85% |
What changed
Revenue was $699.5M in Q1 2025, up 4% year over year and down 28% from the previous quarter. Construction was the largest line at 88% of revenue. Construction added $19.4M year over year (up 3%), 71% of the total change.
Gross margin was 12.0%, up 3.9 points from a year earlier. Operating costs exceeded revenue by $39.8M, an operating margin of -5.7%. Operating expenses grew 27% against revenue growth of 4%. The fastest-growing cost line was SG&A (+32%). The quarter ended with a net loss of $28.3M, after a profit of $47.1M the previous quarter.
Operating cash flow was $3.6M (down 85% year over year). Non-cash charges added back $30.2M of depreciation and amortization and $32.2M of share-based compensation. Working capital and other items used $30.4M. Capital expenditures of $32.2M exceeded it, leaving free cash flow of −$28.6M.
Questions
What was Granite Construction's revenue in the first quarter 2025?
Granite Construction (GVA) reported revenue of $700M for the first quarter 2025 (Q1 2025), +4% from a year earlier and -28% from the quarter before.
Was Granite Construction profitable in the first quarter 2025?
Operating loss was $39.8M (-5.7% of revenue) and net loss $28.3M.