Granite Construction Incorporated : 1st Quarter 2025 Earnings Conference Call

Published: 2025-05-02 16:06:21 ET GVA

Published on 05/02/2025 at 16:06

Q1 2025 Earnings Presentation

Granite's current market environment continues to have

strong opportunities despite macro-economic uncertainties

Federal infrastructure bill continues to support growth in

construction opportunities

Granite's private markets have remained resilient

Reiterating 2025 guidance and 2027 financial targets

No significant tariff impact to date and implementing

measures designed to mitigate potential tariff-related inflation

M&A pipeline robust and the strategy to pursue and complete accretive opportunities unchanged

© 2025 Granite Construction. All Rights Reserved. 3

Committed to strengthening and growing the Materials business

Investment focus on materials-led M&A, reserve expansion, plant automation, new plants and facility upgrades

Cash gross profit margin growth driven by improved pricing and operational efficiency

2025 price increase expectation unchanged (Aggregates high-single digit, Asphalt low-single digit)

10.4%

14.2%

13.4%

Product-Level Gross Profit Margin and Cash Gross Profit Margin*

(Internal and External Sales)

AGGREGATE

ASPHALT

Cash Gross Profit Margin

Depreciation, depletion and amortization as a % of Revenue

Gross Profit Margin

25.6%

20.5%

20.1%

9.5%

15.8%

6.6% 2.4%

14.2%

1.5%

14.8%

13.5%

16.1%

12.7%

6.8%

6.3%

6.0%

1.4%

(4.6%)

(4.4%)

(2.9%)

(9.7%)

Q1'24

Q1'25

FY'23

FY'24

Q1'24

Q1'25

FY'23

FY'24

*See appendix for a reconciliation of this non-GAAP measure.

CAP increased $444M sequentially to new Granite record of $5.7B

Q1'2025 bidding environment continues to be robust, highlighted by California, Texas and the Federal division

Construction gross profit margin expected to grow over 1% YOY in 2025

Continuing to explore acquisition opportunities to build upon and expand vertically-integrated platform into new markets

CAP History

Bid Build

Best Value

Design Build

Other

$5,104

$5,740

$115 , 2%

$3,935

$35 , 1%

$68 , 1%

$5,499

$225 , 4%

$5,296

$131 , 2%

$203 , 4%

$206 , 4%

$138 , 3%

$143 , 3%

$324 , 8%

$2,199 , 43%

$2,300 , 40%

$2,548 , 46%

$2,395 , 45%

$1,814 , 46%

$2,631 , 52%

$2,588 , 47%

$2,627 , 50%

$3,122 , 54%

$1,762 , 45%

Q1'22

Q1'23

Q1'24

Q4'24

Q1'25

$ in millions

Disclaimer

Granite Construction Inc. published this content on May 01, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 02, 2025 at 20:03 UTC.