Granite Q2 revenue up 29% to $1.46B; adjusted EPS $2.16 beats $1.93; raises FY revenue guidance

GRANITE CONSTRUCTION INC

Q2 revenue $1.46B (+29% YoY); net loss $278M due to $360M loss on convertible debt settlement.
Adjusted net income $101M, adjusted diluted EPS $2.16 vs $1.93 YoY; adjusted EBITDA $186M (+22%).
Raised 2026 revenue guidance to $5.3-5.5B (from $5.2-5.4B); adjusted EBITDA margin 12.25-13.25%.
Committed & Awarded Projects (CAP) $7.4B, up $250M sequentially; YTD operating cash flow $142M (from $5M).
Acquired Kenny Seng Construction in Q2; strong public/private infrastructure demand cited.

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