Granite Construction Incorporated announced its second-quarter 2025 results, reporting net income attributable to Granite of $72 million, or $1.42 per diluted share. Adjusted net income attributable to Granite totaled $86 million, or $1.93 per diluted share, compared to $77 million, or $1.73 per diluted share, in the prior year.
Total revenue for the quarter reached $1.126 billion, an increase of 4% year-over-year. The Construction segment's gross profit increased 13.5% to $153.7 million, achieving a 16.4% gross profit margin. The Materials segment saw revenue grow 14.6% to $188.5 million, with gross profit surging 54.9% to $45.4 million and cash gross profit up 50.1% to $59.0 million.
Committed and Awarded Projects (CAP) reached a new record of $6.1 billion, representing a sequential increase of $324 million and a year-over-year increase of $488 million. This robust backlog is driven by strong bidding opportunities in both public and private markets.
The adjusted diluted EPS of $1.93 significantly surpassed analyst consensus estimates of $1.70. The company updated its 2025 fiscal year guidance to reflect the inclusion of the recently announced acquisitions, which are expected to be immediately accretive to adjusted EBITDA margin and cash flows. Management expressed confidence in continued margin expansion and organic growth.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.