Granite Construction (NYSE:GVA) reported a surge in profitability and a record backlog of projects for the fourth quarter and full year 2025, signaling robust demand for its infrastructure and materials businesses.
The Watsonville, California-based contractor saw its Committed and Awarded Projects (CAP) jump 32% year-over-year to an all-time high of $7.0 billion.
The company announced fourth-quarter revenue of $1.2 billion, a 19% increase from the same period a year earlier.
Momentum accelerated through the end of the year, pushing full-year fiscal revenue to $4.4 billion, a 10% gain over 2024.
The strong top-line performance cascaded down to the bottom line, with fourth-quarter net income rising 25% to $52 million.
On an adjusted basis, net income for the quarter grew 17% to $65 million.
Investors focused on the company’s operational efficiency saw adjusted earnings per share (EPS) for the fourth quarter climb 14% to $1.40.
For the full fiscal year, adjusted diluted EPS surged 26% to $6.07.
The company's profitability metrics were bolstered by solid execution, as fourth-quarter adjusted EBITDA increased 21% to $131 million.