Granite Construction (NYSE: GVA) saw its stock price soar 5.23% in pre-market trading on Thursday following the release of its impressive second-quarter 2025 financial results and raised full-year guidance. The infrastructure solutions provider reported better-than-expected earnings and a record project backlog, signaling strong future growth prospects.

The company reported adjusted earnings per share of $1.93 for Q2 2025, significantly beating analyst estimates of $1.78 and marking a 11.56% increase from $1.73 in the same period last year. Revenue rose 4% year-over-year to $1.13 billion, slightly below the consensus estimate of $1.156 billion. Notably, Granite's Committed and Awarded Projects (CAP) backlog reached a record $6.1 billion, providing enhanced visibility for future revenue streams.

Granite's strong performance was driven by improvements in both its construction and materials segments. The construction segment saw steady revenue growth and notable margin gains, with gross margin reaching 16.4%. The materials segment delivered solid growth with revenue up 14.6% and gross profit rising 54.9%. In light of these positive results, Granite raised its full-year 2025 guidance, now projecting revenue between $4.35 billion and $4.55 billion, up from the previous range of $4.2 billion to $4.4 billion. The company also expects an adjusted EBITDA margin of 11.25% to 12.25% for the year, reflecting confidence in its ongoing operational improvements and strategic initiatives.