Granite Construction stock gained 2.56 percent after tunnel award

Published on 10/05/2026 at 09:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Granite Construction secured a USD 324.8 million Ohio tunnel contract on October 1, 2026, adding to its infrastructure project pipeline. Q2 revenue rose 28.8 percent to USD 1.46 billion.

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Granite Construction (US3873281071) stock gained 2.56 percent to USD 119.84 on the NYSE on October 2, 2026, after the company secured a USD 324.8 million tunnel contract in Ohio. Construction Dive reported on October 2, 2026, that Granite and Super Excavators will build the Big Creek Tunnel for the Northeast Ohio Regional Sewer District.

Ohio contract adds project visibility

The award will be included in Granite's third-quarter committed and awarded projects balance. The scope covers 22,300 linear feet of 20-foot-diameter tunnel plus 3,115 linear feet of ancillary tunnels, including shafts, an overflow tunnel and connecting infrastructure.

Construction is scheduled to begin in fall 2026 and finish in winter 2030. The completed project is designed to eliminate 550 million gallons of combined sewer releases annually, linking Granite's civil infrastructure work to a measurable water-quality outcome.

Revenue growth meets an earnings test

Granite generated USD 1.46 billion in second-quarter revenue for the period ended June 30, 2026, up 28.8 percent from the prior-year quarter. MarketBeat reported that the revenue exceeded the USD 1.41 billion consensus estimate, while EPS of USD 2.16 missed the USD 2.25 forecast by USD 0.09.

The contrast matters for the stock: project awards and revenue are expanding, but quarterly earnings did not keep pace with expectations. The same report said Granite declared a quarterly dividend of USD 0.13 per share, payable October 15, 2026, to holders of record on September 30, 2026.

Analysts keep targets above the close

MarketBeat reported on September 30, 2026, that six brokerages held a consensus rating of Hold, with two sells, one hold, two buys and one strong buy. The average 12-month price target was USD 158.50, while published targets ranged from USD 119.00 to USD 180.00. The average target stood 32.3 percent above the USD 119.84 close.

Granite Construction stock closed higher

Granite Construction stock closed at USD 119.84 on the NYSE on October 2, 2026, with volume of 648,735 shares. The close was USD 42.24 below the 52-week high of USD 162.08 and USD 22.58 above the 52-week low of USD 97.26.