v3.26.1
Condensed Consolidated Statements of Shareholders' Equity - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Total Granite Shareholders’ Equity
Non-controlling Interests
Beginning balances (in shares) at Dec. 31, 2024   43,424,646          
Beginning balances at Dec. 31, 2024 $ 1,079,363 $ 434 $ 410,739 $ (582) $ 604,635 $ 1,015,226 $ 64,137
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 52,018       38,044 38,044 13,974
Other comprehensive income 1,579     1,579   1,579  
Repurchases of common stock (shares) [1]   (200,738)          
Repurchases of common stock [1] (15,317) $ (2) (15,315)   0 (15,317)  
RSUs vested (shares)   550,360          
RSUs vested 0 $ 6 (6)        
Dividends on common stock (11,377)   144   (11,521) (11,377)  
Transactions with non-controlling interests (26,504)           (26,504)
Stock-based compensation expense and other (in shares)   (4,516)          
Stock-based compensation expense and other 34,593   34,593     34,593  
Ending balances (in shares) at Jun. 30, 2025   43,778,784          
Ending balances at Jun. 30, 2025 1,114,355 $ 438 430,155 997 631,158 1,062,748 51,607
Beginning balances (in shares) at Mar. 31, 2025   43,737,491          
Beginning balances at Mar. 31, 2025 1,038,292 $ 437 427,804 65 565,223 993,529 44,763
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 80,345       71,700 71,700 8,645
Other comprehensive income 932     932   932  
Repurchases of common stock (shares) [2]   (2,518)          
Repurchases of common stock [2] (109)   (109)     (109)  
RSUs vested (shares)   38,748          
RSUs vested 0 $ 1 (1)        
Dividends on common stock (5,691)   74   (5,765) (5,691)  
Transactions with non-controlling interests (1,801)           (1,801)
Stock-based compensation expense and other (in shares)   5,063          
Stock-based compensation expense and other 2,387   2,387     2,387  
Ending balances (in shares) at Jun. 30, 2025   43,778,784          
Ending balances at Jun. 30, 2025 $ 1,114,355 $ 438 430,155 997 631,158 1,062,748 51,607
Beginning balances (in shares) at Dec. 31, 2025 43,496,781 43,496,781          
Beginning balances at Dec. 31, 2025 $ 1,221,533 $ 435 402,391 1,581 774,641 1,179,048 42,485
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (307,973)       (319,861) (319,861) 11,888
Other comprehensive income 2,987     2,987   2,987  
Repurchases of common stock (shares) [1]   (157,235)          
Repurchases of common stock [1] (18,669) $ (1) (18,668)     (18,669)  
RSUs vested (shares)   421,279          
RSUs vested 0 $ 4 (4)        
Repurchase of 3.75% Convertible Notes (178,804)   (178,804)     (178,804)  
Dividends on common stock (11,376)   132   (11,508) (11,376)  
Partial unwind of capped call 55,112   55,112     55,112  
Transactions with non-controlling interests (1,785)           (1,785)
Stock-based compensation expense and other (in shares)   (3,300)          
Stock-based compensation expense and other $ 44,311   44,311     44,311  
Ending balances (in shares) at Jun. 30, 2026 43,764,125 43,764,125          
Ending balances at Jun. 30, 2026 $ 805,336 $ 438 304,470 4,568 443,272 752,748 52,588
Beginning balances (in shares) at Mar. 31, 2026   43,746,424          
Beginning balances at Mar. 31, 2026 1,081,040 $ 437 301,499 2,995 727,190 1,032,121 48,919
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (271,584)       (278,162) (278,162) 6,578
Other comprehensive income 1,573     1,573   1,573  
Repurchases of common stock (shares) [2]   (3,034)          
Repurchases of common stock [2] (228) $ 1 (229)     (228)  
RSUs vested (shares)   16,930          
RSUs vested 0            
Dividends on common stock (5,689)   67   (5,756) (5,689)  
Transactions with non-controlling interests (2,909)           (2,909)
Stock-based compensation expense and other (in shares)   3,805          
Stock-based compensation expense and other $ 3,133   3,133     3,133  
Ending balances (in shares) at Jun. 30, 2026 43,764,125 43,764,125          
Ending balances at Jun. 30, 2026 $ 805,336 $ 438 $ 304,470 $ 4,568 $ 443,272 $ 752,748 $ 52,588
[1] Represents shares withheld related to employee taxes for RSUs vested under our equity incentive plans in 2026 and 2025, as well as 200 shares repurchased under our share repurchase program in 2025.
[2] Represents shares withheld related to employee taxes for RSUs vested under our equity incentive plans in 2026 and 2025.