Filing Flows › Granite Construction (GVA) › Q3 2026 › vs Q2 2026
Granite Construction (GVA) Q3 2026 vs Q2 2026 (quarter over quarter)
Granite Construction's revenue rose $310M (+21%) from $1.5B in Q2 2026 to $1.8B in Q3 2026. The biggest changes: Construction +$267M (+22%); Materials +$43.9M (+18%). Gross margin 19.0% against 16.4% (+2.6 pts).
Granite Construction, Q3 2026: revenue $1.8B (+23% year over year), operating margin 12.7%, net earnings $3.2M, operating cash flow $263M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 19.0% | 16.4% | +2.6 pts |
| Operating margin | 12.7% | 8.7% | +4.0 pts |
| Net margin | 0.2% | -19.1% | +19.3 pts |
| Free cash flow margin | 12.9% | 9.8% | +3.1 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Construction | $1.5B | $1.2B | $267M | +22% |
| Materials | $292M | $248M | $43.9M | +18% |
| Revenue | $1.8B | $1.5B | $310M | +21% |
| Gross profit | $336M | $239M | $97.0M | +41% |
| Cost of revenue | $1.4B | $1.2B | $213M | +18% |
| Operating profit | $224M | $127M | $97.5M | +77% |
| Operating expenses | $111M | $112M | −$541K | -0.5% |
| Pre-tax earnings | $67.2M | −$239M | $306M | — |
| Other expense, net | $157M | $366M | −$209M | -57% |
| SG&A | $104M | $108M | −$3.7M | -3% |
| Other operating costs | $7.3M | $4.2M | $3.1M | +75% |
| Net earnings | $3.2M | −$278M | $281M | — |
| Minority interests | $7.2M | $6.6M | $603K | +9% |
| Income tax | $56.8M | $32.2M | $24.5M | +76% |
| Depreciation & amortization | $50.7M | $47.0M | $3.7M | +8% |
| Share-based compensation | $2.7M | $2.7M | $31K | +1% |
| Working capital & other | $206M | $401M | −$195M | -49% |
| Operating cash flow | $263M | $172M | $90.3M | +52% |
| Free cash flow (OCF − capex) | $229M | $143M | $86.0M | +60% |
| Capital expenditures | $34.0M | $29.7M | $4.3M | +14% |
Questions
How much did Granite Construction's revenue grow quarter over quarter in Q3 2026?
Granite Construction's revenue rose $310M (+21%) from $1.5B in Q2 2026 to $1.8B in Q3 2026.
What drove Granite Construction's revenue change in Q3 2026?
Construction +$267M (+22%); Materials +$43.9M (+18%).