GVA

EX-99.1

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Exhibit 99.1

Granite Reports Third Quarter 2026 Results and Introduces 2029 Targets

•Introducing 2029 financial targets reflecting an expected organic revenue CAGR of 10% to 12%

•Q3 revenue increased 23% year-over-year to $1.8 billion

•Q3 net income of $3 million compared to $103 million for the same period in the prior year

•Q3 adjusted net income (1) of $173 million compared to $124 million, for the same period in the prior year

•Q3 diluted EPS of $0.07 compared to $1.98 for the same period in the prior year and adjusted diluted EPS (1) of $3.81 compared to $2.70 for the same period in the prior year

•Q3 adjusted EBITDA (1) increased 32% year-over-year to $283 million

•Committed and Awarded Projects (“CAP”) (2) increased sequentially $37 million to a new record high of $7.5 billion

•Year-to-date operating cash flow increased $114 million year-over-year to $404 million

WATSONVILLE, Calif. - Granite (NYSE: GVA) today announced results for the quarter ended September 30, 2026.

Third Quarter 2026 Results

Net income attributable to Granite totaled $3 million, or $0.07 per diluted share, compared to net income attributable to Granite of $103 million, or $1.98 per diluted share, for the same period in the prior year. Current period net income was unfavorably impacted by $162 million of net non-operating charges associated with settling the conversions of our 3.75% convertible notes. As previously disclosed, we elected to settle the conversions of the convertible notes primarily in cash in order to limit dilution to our stockholders. The impact of the conversions and related transactions have been excluded from adjusted net income and adjusted EBITDA. Adjusted net income attributable to Granite totaled $173 million, or $3.81 per diluted share, compared to adjusted net income attributable to Granite of $124 million, or $2.70 per diluted share, for the same period in the prior year.

•Revenue increased $333 million to $1.77 billion compared to $1.43 billion for the same period in the prior year.

•Gross profit increased $75 million to $336 million compared to $261 million for the same period in the prior year.

•Selling, general, and administrative (“SG&A”) expenses increased slightly to $104 million, and our SG&A as a percent of revenue improved from 7.1% in the prior year to 5.9% in the current year.

•Adjusted EBITDA increased $67 million to $283 million compared to $216 million for the same period in the prior year.

“We delivered excellent third quarter results, reflecting strong execution across our business and continued progress on our strategy,” said Kyle Larkin, Granite President and Chief Executive Officer. “Our teams are executing at a high level, and the investments we have made to strengthen and expand our business are creating new opportunities for Granite. We continue to see attractive opportunities in our core transportation markets while expanding our capabilities and presence in federal, mission critical infrastructure, rail and other targeted end markets. Our record CAP and strong market outlook position us well as we enter 2027. We believe Granite has the people, capabilities and market position to capitalize on these opportunities and deliver profitable growth and long-term shareholder value.”

(1)Adjusted net income, adjusted diluted earnings per share, earnings before interest, taxes, depreciation, and amortization (“EBITDA”), EBITDA margin, adjusted EBITDA, and adjusted EBITDA margin are non-GAAP measures. Please refer to the description and reconciliation of non-GAAP measures in the attached tables.

(2)CAP is comprised of revenue we expect to record in the future on executed contracts, including 100% of our consolidated joint venture contracts and our proportionate share of unconsolidated joint venture contracts, as well as the general construction portion of construction manager/general contractor, construction manager/at risk and progressive design build contracts to the extent contract execution and funding is probable.

Nine Months Ended September 30, 2026 Results

Net loss attributable to Granite totaled $317 million, or $(7.23) per diluted share, compared to net income attributable to Granite of $141 million, or $2.83 per diluted share, for the same period in the prior year. The net loss was driven by $535 million of net non-operating charges associated with settling the conversions of our 3.75% convertible notes. The impact of the conversions and related transactions have been excluded from adjusted net income and adjusted EBITDA. Adjusted net income attributable to Granite totaled $287 million, or $6.17 per diluted share, compared to $211 million, or $4.67 per diluted share, for the same period in the prior year.

•Revenue increased $876 million to $4.13 billion compared to $3.26 billion for the same period in the prior year.

•Gross profit increased $141 million to $684 million compared to $543 million for the same

EX-99.1

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Exhibit 99.1

Granite Reports Second Quarter 2026 Results

•Raised 2026 revenue guidance by $100 million

•Q2 revenue increased 29% year-over-year to $1.5 billion

•Q2 net loss of $278 million compared to net income of $72 million for the same period in the prior year

•Q2 adjusted net income (1) of $101 million compared to $86 million for the same period in the prior year

•Q2 diluted EPS of $(6.36) compared to $1.42 for the same period in the prior year and adjusted diluted EPS (1) of $2.16 compared to $1.93 for the same period in the prior year

•Q2 adjusted EBITDA (1) increased 22% year-over-year to $186 million

•Committed and Awarded Projects (“CAP”) (2) increased sequentially $250 million to $7.4 billion

•Year-to-date Operating cash flow increased $136 million year-over-year to $142 million

WATSONVILLE, Calif. - Granite (NYSE: GVA) today announced results for the quarter ended June 30, 2026.

Second Quarter 2026 Results

Net loss attributable to Granite totaled $278 million, or $(6.36) per diluted share, compared to net income attributable to Granite of $72 million, or $1.42 per diluted share, for the same period in the prior year. The net loss was driven by a $360 million non-operating loss on convertible debt transactions associated with our 3.75% convertible notes. As described in our June 2, 2026 Form 8-K, we elected to settle the conversions of the convertible notes primarily in cash in order to limit dilution to our stockholders. The related losses have been excluded from adjusted net income and adjusted EBITDA. Adjusted net income attributable to Granite totaled $101 million, or $2.16 per diluted share, compared to adjusted net income attributable to Granite of $86 million, or $1.93 per diluted share, for the same period in the prior year.

•Revenue increased $330 million to $1.46 billion compared to $1.13 billion for the same period in the prior year.

•Gross profit increased $40 million to $239 million compared to $199 million for the same period in the prior year.

•Selling, general, and administrative (“SG&A”) expenses increased $22 million to $108 million, or 7.4% of revenue, compared to $86 million, or 7.6% of revenue, for the same period in the prior year.

•Adjusted EBITDA increased $34 million to $186 million compared to $152 million for the same period in the prior year.

“We continued to execute against our strategy and deliver on our long-term financial objectives during the quarter,” said Kyle Larkin, Granite President and Chief Executive Officer. “Despite headwinds created by severe weather in the southeast, we generated strong organic revenue growth, increased adjusted EBITDA and operating cash flow, completed the acquisition of Kenny Seng Construction, and strengthened our capital structure by issuing senior notes and calling our 3.75% convertible notes for redemption.”

“We continue to believe public funding for highways, roads and bridges is likely to remain at high levels for the foreseeable future. In addition, we are confident in our ability to grow our business beyond traditional public infrastructure end markets. Over the last several years, we have been positioning Granite to expand our federal portfolio footprint, increase our participation in rail and transit projects, grow our presence in mission critical infrastructure including data center site development, and strengthen our vertically integrated Materials platform. Combined with our leading positions in many of the nation’s fastest growing markets, these initiatives provide Granite with multiple avenues to grow revenue, expand earnings, and create value independent of any single end market or funding source. As we look beyond 2027, our confidence is rooted not only in a supportive funding environment but also in our ability to grow through market diversification, customer expansion, strategic acquisitions, and disciplined execution. Our continued confidence in our ability to grow our business is based on the breadth of opportunities we see across our platform, the quality of the markets we serve, our ability to execute, and the strategic choices we have made over the last several years to build a more diversified, more vertically integrated and more resilient Granite.”

(1)Adjusted net income, adjusted diluted earnings per share, earnings before interest, taxes, depreciation, and amortization (“EBITDA”), EBITDA margin, adjusted EBITDA, and adjusted EBITDA margin are non-GAAP measures. Please refer to the description and reconciliation of non-GAAP measures in the attached tables.

(2)CAP is comprised of revenue we expect to record in the future on executed contracts, including 100% of our consolidated joint venture contracts and our proportionate share of unconsolidated joint venture contracts, as well as the general construction portion of construction manager/general contractor, construction manager/at risk and progressive design build contracts to the exten

EX-99.1

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Exhibit 99.1

Granite Reports First Quarter 2026 Results

•Q1 revenue increased 30% year-over-year to $912 million

•Q1 net loss of $42 million compared to a net loss of $34 million for the same period in the prior year and adjusted net income (1) of $12 million compared to adjusted net income of $0.2 million for the same period in the prior year

•Q1 diluted EPS of $(0.96) compared to diluted EPS of $(0.77) for the same period in the prior year and adjusted diluted EPS (1) of $0.26 compared to adjusted diluted EPS of $0.01 for the same period in the prior year

•Q1 adjusted EBITDA (1) increased 106% year-over-year to $58 million

•Committed and Awarded Projects (“CAP”) (2) increased sequentially $200 million to $7.2 billion

•Completed the acquisition of Kenny Seng Construction on April 23, 2026, expanding our vertically-integrated home market in Utah

•Raised 2026 fiscal year guidance

WATSONVILLE, Calif. - Granite (NYSE: GVA) today announced results for the quarter ended March 31, 2026.

First Quarter 2026 Results

Net loss attributable to Granite totaled $42 million, or $(0.96) per diluted share, compared to net loss attributable to Granite of $34 million, or $(0.77) per diluted share, for the same period in the prior year. Adjusted net income attributable to Granite (1) totaled $12 million, or $0.26 per diluted share, compared to adjusted net income attributable to Granite of $0.2 million, or $0.01 per diluted share, for the same period in the prior year.

•Revenue increased $212 million to $912 million compared to $700 million for the same period in the prior year.

•Gross profit increased $26 million to $110 million compared to $84 million for the same period in the prior year.

•Selling, general, and administrative (“SG&A”) expenses increased $25 million to $141 million, or 15.4% of revenue, compared to $116 million, or 16.6% of revenue, for the same period in the prior year.

•Adjusted EBITDA increased $30 million to $58 million compared to $28 million for the same period in the prior year.

“Building on our momentum from the fourth quarter, we are off to a strong start across both our construction and materials segments,” said Kyle Larkin, Granite President and Chief Executive Officer. “In construction, our teams across key federal, state and local and private end markets have been highly active, driving CAP to a new record of $7.2 billion. Our markets remain healthy, with robust pipelines that provide clear opportunities to continue to grow CAP. Our materials segment is also performing well. Demand for both aggregates and asphalt has been strong, resulting in volume growth and pricing increases that have met our expectations year-to-date. In addition, we recently announced the acquisition of Kenny Seng Construction in Utah, which continues our strategy of strengthening and expanding our home markets by adding high-quality businesses to our portfolio. We continue to actively evaluate and pursue M&A opportunities and expect to complete several acquisitions this year.”

“Given our first quarter performance and recent project awards, including tactical infrastructure for the U.S. Customs and Border Protection, as well as the acquisition of Kenny Seng Construction, we are increasing our fiscal year 2026 guidance. We expect 2026 to be a year of meaningful growth and believe Granite is positioned for continued growth in 2027.”

(1)Adjusted net income/loss, adjusted diluted earnings/loss per share, earnings before interest, taxes, depreciation, and amortization (“EBITDA”), EBITDA margin, adjusted EBITDA, and adjusted EBITDA margin are non-GAAP measures. Please refer to the description and reconciliation of non-GAAP measures in the attached tables.

(2)CAP is comprised of revenue we expect to record in the future on executed contracts, including 100% of our consolidated joint venture contracts and our proportionate share of unconsolidated joint venture contracts, as well as the general construction portion of construction manager/general contractor, construction manager/at risk and progressive design build contracts to the extent contract execution and funding is probable.

Three Months ended March 31, 2026 (Unaudited - dollars in thousands)

Construction Segment

Three Months Ended March 31,

20262025Change

Revenue$766,054 $614,618 $151,436 24.6 %

Gross profit$102,180 $85,438 $16,742 19.6 %

Gross profit as a % of revenue13.3 %13.9 %

Revenue increased year-over-year, driven primarily by higher CAP entering the quarter and $43 million from our recently acquired businesses, Warren Paving and Papich Construction. Gross profit increased year-over-year as a result of the increase in revenue and improved execution across our project portfolio. Gross profit as a percent of revenue decreased primarily due to a claim settlement which did not recur in the current year.

CAP increased $200 million sequentially to $7.2 billion, an increase of $1.4 billion year-