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How Granite Construction (GVA) makes money
Granite Construction (GVA) made $1.8B of revenue in the third quarter 2026 (Q3 2026), +23% from a year earlier. Construction brought in $1.5B (83%); Materials brought in $292M (17%). Of every dollar of revenue, 19¢ was left as gross profit, 13¢ was left as operating profit, 0¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Construction | $1.5B | 83.5% | +22% | +27% |
| Materials | $292M | 16.5% | +18% | +8% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.8B | 100.0% |
| Cost of revenue | $1.4B | 81.0% |
| Gross profit | $336M | 19.0% |
| Operating expenses | $111M | 6.3% |
| Operating profit | $224M | 12.7% |
| Income tax | $56.8M | 3.2% |
| Net earnings | $3.2M | 0.2% |
| Operating cash flow | $263M | 14.9% |
| Free cash flow | $229M | 12.9% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.8B | +23% |
| Q2 2026 | $1.5B | +29% |
| Q1 2026 | $912M | +30% |
| Q4 2025 | $1.2B | +19% |
| Q3 2025 | $1.4B | +12% |
| Q2 2025 | $1.1B | +4% |
| Q1 2025 | $700M | +4% |
From Granite Construction's 10-Q filed Oct 29, 2026 (on EDGAR).
Questions
How does Granite Construction make money?
Granite Construction (GVA) made $1.8B of revenue in the third quarter 2026 (Q3 2026), +23% from a year earlier. Construction brought in $1.5B (83%); Materials brought in $292M (17%). Of every dollar of revenue, 19¢ was left as gross profit, 13¢ was left as operating profit, 0¢ was left as net earnings.
What is Granite Construction's biggest business?
Construction: $1.5B in the third quarter 2026, 83% of revenue, +27% from a year earlier.
What is Granite Construction's profit margin?
Net earnings were $3.2M, 0.2% of revenue, in the third quarter 2026; the operating margin was 12.7%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.