Filing Flows › Granite Construction (GVA) › Q4 2025
Granite Construction (GVA) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 13, 2026
Granite Construction (GVA) reported revenue of $1.2B for the fourth quarter 2025 (Q4 2025), +19% from a year earlier and -19% from the quarter before. Operating margin was 6.4%, net earnings $52.0M (4.5% of revenue).
Granite Construction, Q4 2025: revenue $1.2B (+19% year over year), operating margin 6.4%, net earnings $52.0M, operating cash flow $179M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | -19% | +19% |
| Gross profit | $168M | -36% | +11% |
| Operating profit | $75.0M | -48% | +24% |
| Net earnings | $52.0M | -49% | +25% |
| Operating cash flow | $179M | -37% | +4% |
| Free cash flow | $129M | -50% | -11% |
What changed
Revenue was $1.2B in Q4 2025, up 19% year over year and down 19% from the previous quarter. Construction was the largest line at 81% of revenue.
Gross margin was 14.4%, down 1.0 points from a year earlier. Operating profit was $0.07B, a 6.4% margin (up 0.2 points year over year). Of the extra revenue versus a year earlier, 8% reached operating profit, above the 6% margin then. Operating expenses grew 3% against revenue growth of 19%. Net earnings were $0.05B, up 25% year over year. The effective tax rate was 20.2%.
Operating cash flow was $0.18B (up 4% year over year), 304% of net income including minority interests. Non-cash charges added back $0.05B of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items added $0.07B. Capital expenditures of $0.05B left free cash flow of $0.13B.
Questions
What was Granite Construction's revenue in the fourth quarter 2025?
Granite Construction (GVA) reported revenue of $1.2B for the fourth quarter 2025 (Q4 2025), +19% from a year earlier and -19% from the quarter before.
Was Granite Construction profitable in the fourth quarter 2025?
Operating profit was $75.0M (6.4% of revenue) and net earnings $52.0M.