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Dec 31, 2025
Granite Q4 2025 Earnings Report
Granite reported strong fourth quarter 2025 results with double-digit revenue growth and higher profitability.
Key Takeaways
Granite generated fourth quarter revenue of 1165370000, up 19% year-over-year, with net income attributable to Granite of 52030000 and diluted EPS of 1.03. Operating income rose to 74981000, while adjusted EBITDA increased to 130998000 with an 11.2% margin.
Revenue increased 19% year-over-year to 1165370000.
Net income attributable to Granite rose to 52030000 with diluted EPS of 1.03.
Operating income improved to 74981000 from 60544000 in the prior year.
Adjusted EBITDA reached 130998000 with an 11.2% margin.
Revenue by Segment
Forward Guidance
For 2026, Granite expects revenue between 4900000000 and 5100000000 and adjusted EBITDA margin between 12.0% and 13.0%, with SG&A expense ranging from 8.5% to 9.0% of revenue.
Positive Outlook
- Revenue guidance of 4900000000 to 5100000000 implies continued growth.
- Adjusted EBITDA margin expected to improve to 12.0%–13.0%.
- Record CAP of 6969372000 supports future revenue visibility.
- Continued momentum from acquisitions completed in 2025.
- Expectations for improved gross profit margins and SG&A efficiencies.
Challenges Ahead
- SG&A expenses expected to remain elevated at 8.5%–9.0% of revenue.
- Guidance subject to market conditions and public funding dynamics.
- Planned capital expenditures of 140000000 to 160000000 may impact free cash flow.
- Includes estimated 48000000 of stock-based compensation expense.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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