Filing Flows › Granite Construction (GVA) › Q3 2026 › vs Q3 2025
Granite Construction (GVA) Q3 2026 vs Q3 2025 (year over year)
Granite Construction's revenue rose $333M (+23%) from $1.4B in Q3 2025 to $1.8B in Q3 2026. The biggest changes: Construction +$312M (+27%); Materials +$21.3M (+8%). Gross margin 19.0% against 18.2% (+0.8 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 19.0% | 18.2% | +0.8 pts |
| Operating margin | 12.7% | 10.0% | +2.7 pts |
| Net margin | 0.2% | 7.2% | -7.0 pts |
| Free cash flow margin | 12.9% | 18.0% | -5.0 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Construction | $1.5B | $1.2B | $312M | +27% |
| Materials | $292M | $271M | $21.3M | +8% |
| Revenue | $1.8B | $1.4B | $333M | +23% |
| Gross profit | $336M | $261M | $75.2M | +29% |
| Cost of revenue | $1.4B | $1.2B | $258M | +22% |
| Operating profit | $224M | $144M | $80.7M | +56% |
| Operating expenses | $111M | $117M | −$5.5M | -5% |
| Pre-tax earnings | $67.2M | $148M | −$80.4M | -54% |
| Other expense, net | $157M | −$3.9M | $161M | — |
| SG&A | $104M | $102M | $2.5M | +2% |
| Other operating costs | $7.3M | $15.3M | −$8.0M | -52% |
| Net earnings | $3.2M | $103M | −$99.7M | -97% |
| Minority interests | $7.2M | $6.5M | $713K | +11% |
| Income tax | $56.8M | $38.1M | $18.6M | +49% |
| Depreciation & amortization | $50.7M | $48.2M | $2.5M | +5% |
| Share-based compensation | $2.7M | $2.2M | $492K | +22% |
| Working capital & other | $206M | $131M | $75.3M | +58% |
| Operating cash flow | $263M | $284M | −$21.4M | -8% |
| Free cash flow (OCF − capex) | $229M | $257M | −$28.8M | -11% |
| Capital expenditures | $34.0M | $26.7M | $7.3M | +27% |
Questions
How much did Granite Construction's revenue grow year over year in Q3 2026?
Granite Construction's revenue rose $333M (+23%) from $1.4B in Q3 2025 to $1.8B in Q3 2026.
What drove Granite Construction's revenue change in Q3 2026?
Construction +$312M (+27%); Materials +$21.3M (+8%).