Construction and construction materials company Granite Construction (NYSE: GVA) will be reporting results this Thursday morning. Here’s what investors should know.

Granite Construction beat analysts’ revenue expectations last quarter, reporting revenues of $1.46 billion, up 29.3% year on year. It was a mixed quarter for the company, with full-year revenue guidance beating analysts’ expectations but a significant miss of analysts’ EBITDA estimates.

Is Granite Construction a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Granite Construction’s revenue to grow 18.6% year on year, improving from the 12.4% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Granite Construction has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Granite Construction’s peers in the construction and engineering segment, only Comfort Systems has reported results so far. It exceeded analysts’ revenue estimates, delivering year-on-year sales growth of 53.7%. The stock was down 9.3% on the results.

Over the past year, investors have repeatedly shifted their focus from one macro narrative to another (AI disruption and AI capex spending to geopolitics, interest rates, and the broader health of the economy). While some of the construction and engineering stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.7% on average over the last month. Granite Construction is down 4.6% during the same time and is heading into earnings with an average analyst price target of $170.17 (compared to the current share price of $110.42).

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