GVA — what changed in the latest 10-Q
A section-by-section comparison of GVA's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-07-30 vs the prior 10-Q · 2026-04-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +20 | −22 | ~21 | 18 |
| Market risk (Item 3) | Text added/removed | +2 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 0 |
| Risk factors | Some risk factors updated | +3 | 0 | ~1 | 0 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-07-30
We acquired KSC Utah Investments, Inc. (“Kenny Seng Construction”) on April 23, 2026. The results of operations of Kenny Seng Construction are included in our consolidated financial statements from the date of acquisition, which impacts comparability to the applicable prior periods. See Note 3 of “N…
Construction revenue for the three and six months ended June 30, 2026 increased by $270.1 million and $421.5 million, or 28.8% and 27.2%, when compared to 2025. These increases were primarily driven by higher CAP entering the quarter and year, along with $98.4 million and $141.5 million of construct…
Materials revenue for the three and six months ended June 30, 2026 increased $59.9 million and $121.3 million, or 31.7% and 44.4%, when compared to 2025. This increase was primarily driven by materials revenue from our recently acquired
businesses, Warren Paving, Papich Construction, Cinderlite and Kenny Seng Construction, which was $59.9 million and $110.2 million for the three and six months ended June 30, 2026, respectively.
CAP of $7.4 billion at June 30, 2026 was $249.6 million or 3.5% higher than at March 31, 2026. Significant additions to CAP during the three months ended June 30, 2026 included $117 million for a highway expansion project in Utah, $62 million for a data center project in Nevada, $50 million for a br…
Text removed vs the prior filing · source: 10-Q · 2026-04-30
On April 23, 2026, we completed the acquisition of KSC Utah Investments, Inc. ("Kenny Seng Construction") and related assets for $164.1 million in cash, subject to customary closing adjustments. We purchased all of the issued and outstanding common stock of Kenny Seng Construction, which is a provid…
On April 22, 2026, we drew $170.0 million on our senior secured revolving credit facility (the “Revolver”), which was used, in part, to fund the Kenny Seng Construction acquisition.
Selling, general and administrative expenses$140,950 $115,911
Amount attributable to non-controlling interests$(5,310)$(5,329)
Net loss attributable to Granite Construction Incorporated$(41,699)$(33,656)
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-07-30
In connection with our Conversion Election (as defined above), the embedded conversion option of the 3.75% Convertible Notes is required to be measured at fair value on the consolidated balance sheet at June 30, 2026 and through the date of conversion with changes in fair value being recognized as g…
Additionally, see Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources for a discussion regarding additional equity price risk relating to the settlement of the redemption and associated conversions of the 3.75% Convertible Not…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-07-30
The embedded conversion option associated with our 3.75% Convertible Notes is accounted for as a derivative liability and is recorded at fair value with changes in fair value reported in earnings, which may have an adverse effect on the price of our common stock.
As a result of the Conversion Election, the embedded conversion option associated with our 3.75% Convertible Notes is accounted for as a derivative in accordance with the guidance of ASC 815. Changes in the fair value of the embedded conversion option derivative liability are recognized as gains or …
Material fluctuations in the price of our common stock from measurement date to measurement date will cause changes in the fair value of our embedded conversion option derivative liability, which can materially impact our operating results and, as a result, the price of our common stock. During the …
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice