Filing Flows › Granite Construction (GVA) › Q1 2026
Granite Construction (GVA) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Granite Construction (GVA) reported revenue of $912M for the first quarter 2026 (Q1 2026), +30% from a year earlier and -22% from the quarter before. Operating margin was -3.4%, net loss $36.4M (4.0% of revenue).
Granite Construction, Q1 2026: revenue $912M (+30% year over year), operating margin -3.4%, net loss $36.4M, operating cash flow −$30.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $912M | -22% | +30% |
| Operating profit | −$31.1M | -142% | — |
| Net earnings | −$36.4M | -170% | — |
| Operating cash flow | −$30.9M | -117% | -947% |
What changed
Revenue was $912.5M in Q1 2026, up 30% year over year and down 22% from the previous quarter. Construction was the largest line at 84% of revenue. Construction added $151.4M year over year (up 25%), 71% of the total change.
Gross margin was 12.0%, up 0.1 points from Q1 2025. Operating costs exceeded revenue by $31.1M, an operating margin of -3.4%. Operating expenses grew 14% against revenue growth of 30%. The quarter ended with a net loss of $36.4M, after a profit of $58.9M the previous quarter.
Operating cash flow was −$30.9M. Non-cash charges added back $42.0M of depreciation and amortization and $41.2M of share-based compensation. Working capital and other items used $77.7M. Capital expenditures of $26.1M exceeded it, leaving free cash flow of −$57.0M.
Questions
What was Granite Construction's revenue in the first quarter 2026?
Granite Construction (GVA) reported revenue of $912M for the first quarter 2026 (Q1 2026), +30% from a year earlier and -22% from the quarter before.
Was Granite Construction profitable in the first quarter 2026?
Operating loss was $31.1M (-3.4% of revenue) and net loss $36.4M.