Acquisitions (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Purchase Price and Assumed Liabilities

The following table presents the preliminary purchase price allocation:


(in thousands)
Assets:
Cash and cash equivalents	$	4,217
Receivables	38,564
Contract assets	609
Inventories	28,425
Other current assets	112
Property and equipment	419,737
Right of use assets	54,867

Other noncurrent assets	5,767
Total tangible assets	552,298
Identifiable intangible assets	46,800
Liabilities:
Accounts payable	21,059
Contract liabilities	2,217
Accrued expenses and other current liabilities	13,360
Long-term lease liabilities	46,630
Deferred income taxes, net	103,017
Other long-term liabilities	7,000
Total liabilities assumed	193,283
Total tangible and identifiable net assets acquired	405,815
Goodwill	142,768
Preliminary purchase price (1)	$	548,583

(1)The preliminary purchase price includes customary closing adjustments.

Pro Forma Financial Information

The pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place on January 1, 2025, nor does it intend to be a projection of future results.


	Three Months Ended June 30,				Six Months Ended June 30,
(unaudited, in thousands)	2026		2025		2026		2025
Revenue	$	1,471,714	$	1,167,402	$	2,410,248	$	1,891,798
Net income attributable to Granite Construction Incorporated	$	(289,847)	$	74,336	$	(328,023)	$	36,921