v3.26.3
Acquisitions (Tables)
 9 Months Ended
Sep. 30, 2026
Business Combination [Abstract]  
Schedule of Purchase Price and Assumed Liabilities
The following table presents the purchase price allocation:
(in thousands)
Assets:
Cash and cash equivalents$4,217 
Receivables38,564 
Contract assets609 
Inventories28,425 
Other current assets112 
Property and equipment419,737 
Right of use assets54,867 
Other noncurrent assets5,766 
Total tangible assets552,297 
Identifiable intangible assets46,800 
Liabilities:
Accounts payable21,059 
Contract liabilities2,217 
Accrued expenses and other current liabilities13,360 
Long-term lease liabilities46,630 
Deferred income taxes, net101,563 
Other long-term liabilities7,000 
Total liabilities assumed191,829 
Total tangible and identifiable net assets acquired407,268 
Goodwill141,315 
Purchase price (1)$548,583 
(1)The 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
September 30,		Nine Months Ended
September 30,
(unaudited, in thousands)202520262025
Revenue$1,478,936 $4,176,578 $3,370,735 
Net income (loss) attributable to Granite Construction Incorporated$104,549 $(323,880)$141,514 
The unaudited pro forma financial information in the table below summarizes the combined results of operations of Granite and Warren Paving as though the companies had been combined as of January 1, 2024. 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, 2024, nor does it intend to be a projection of future results.
(unaudited, in thousands)Three Months Ended September 30, 2025Nine Months Ended September 30, 2025
Revenue$1,464,436 $3,408,831 
Net income attributable to Granite Construction Incorporated$111,068 $147,580 
The unaudited pro forma financial information in the table below summarizes the combined results of operations of Granite and Papich Construction as though the companies had been combined as of January 1, 2024. 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, 2024, nor does it intend to be a projection of future results.
(unaudited, in thousands)Three Months Ended September 30, 2025Nine Months Ended September 30, 2025
Revenue$1,452,705 $3,364,348 
Net income attributable to Granite Construction Incorporated$104,014 $148,374