GVA Q2 FY26: Revenue +29% on acquisitions; net loss on $373M below-the-line drag

Filed July 30, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

• high

  Net income swung to a $278M loss (prior $75M profit) despite operating income rising 22%, driven by $373M in below-the-line drags: non-operating/other -$370M, income tax -$5M, noncontrolling interest +$2M. The dominant component is non-operating/other.

  MD&A: Earnings Quality verify on EDGAR →
• high

  Four acquisitions (Kenny Seng $164M, Warren Paving $540M, Papich $170M, Cinderlite $59M) added $141M revenue in six months and drove CAP to $7.4B (+22% YoY), expanding Gulf Coast and Utah footprints.

  Notes: Acquisitions verify on EDGAR →
• high

  Exchanged/redeemed $374M of 3.75% Convertible Notes, incurring $369M in losses (exchange inducement, derivative bifurcation, remeasurement). Issued $600M 6.375% Senior Notes to fund the transaction, raising interest expense.

  Notes: Convertible Debt verify on EDGAR →