Filing Flows › Granite Construction (GVA) › Q2 2025
Granite Construction (GVA) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Granite Construction (GVA) reported revenue of $1.1B for the second quarter 2025 (Q2 2025), +4% from a year earlier and +61% from the quarter before. Operating margin was 9.2%, net earnings $71.7M (6.4% of revenue).
Granite Construction, Q2 2025: revenue $1.1B (+4% year over year), operating margin 9.2%, net earnings $71.7M, operating cash flow $1.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | +61% | +4% |
| Gross profit | $199M | +137% | +21% |
| Operating profit | $104M | — | +21% |
| Net earnings | $71.7M | — | +94% |
| Operating cash flow | $1.8M | -51% | — |
What changed
Revenue was $1.1B in Q2 2025, up 4% year over year and up 61% from the previous quarter. Construction was the largest line at 83% of revenue. Materials added $0.02B year over year (up 15%), 55% of the total change.
Gross margin was 17.7%, up 2.5 points from a year earlier. Operating profit was $0.10B, a 9.2% margin (up 1.3 points year over year). Of the extra revenue versus a year earlier, 41% reached operating profit, above the 8% margin then. Operating expenses grew 21% against revenue growth of 4%. The fastest-growing cost line was SG&A (+23%). Net earnings were $0.07B, up 94% year over year. The effective tax rate was 25.3%.
Operating cash flow was $1.8M, 2% of net income including minority interests. Non-cash charges added back $0.04B of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items used $0.12B. Capital expenditures of $0.03B exceeded it, leaving free cash flow of −$0.03B.
Questions
What was Granite Construction's revenue in the second quarter 2025?
Granite Construction (GVA) reported revenue of $1.1B for the second quarter 2025 (Q2 2025), +4% from a year earlier and +61% from the quarter before.
Was Granite Construction profitable in the second quarter 2025?
Operating profit was $104M (9.2% of revenue) and net earnings $71.7M.