The nation’s leading civil and infrastructure contractors entered 2026 with strong first-quarter execution, supported by durable public funding, healthy state and local transportation demand, and continued investment tied to power, data centers, semiconductors, and logistics infrastructure.
While transportation projects remain the foundation of activity, contractors are increasingly benefiting from mission-critical site development, electrification-related work, and private market expansion in high-growth regions. Strong bidding activity, disciplined project selection, and vertical integration across materials and specialty capabilities continue to support margin performance and multi-year revenue visibility across the group.
Sterling Infrastructure (NASDAQ: STRL)
Sterling delivered another exceptional quarter to begin 2026, driven by broad-based execution and continued momentum in its E-Infrastructure platform, including contributions from the recently acquired CEC electrical business.
For the quarter ended March 31, 2026, revenue reached $825.7 million, increasing 92% year over year. Adjusted EBITDA increased 107% to $166.6 million, while adjusted EBITDA margins remained above 20%. The company also generated $165.6 million of operating cash flow during the quarter.
Backlog at quarter end was $3.80 billion, up 78% year over year. Management highlighted strong award activity early in 2026, including large semiconductor and electrical project wins, reinforcing visibility into continued growth across data center, power, and advanced manufacturing-related work.
Construction Partners, Inc. (NASDAQ: ROAD)
Construction Partners reported strong results for the quarter ended March 31, 2026, supported by favorable execution, healthy weather conditions, and continued demand across its vertically integrated Sunbelt roadway platform.
Quarterly revenue reached $769.2 million, increasing 34.5% year over year. Adjusted EBITDA increased 35% to $93.3 million, and adjusted EBITDA margin was 12.1%, reflecting strong project delivery, vertical integration benefits, and continued contribution from acquisitions alongside 11% organic revenue growth.
Backlog ended the quarter at a record $3.14 billion, providing strong visibility into the peak construction season in the back half of fiscal year 2026. Management also raised full-year outlook, citing sustained public and private demand across Sunbelt markets and continued opportunities to deepen market density through acquisitions and materials integration.
Granite Construction (NYSE: GVA)
Granite opened 2026 with strong first-quarter top-line growth and improved profitability, supported by healthy activity across both its construction and materials segments. For the quarter ended March 31, 2026, revenue increased 30% year over year to $912 million and adjusted EBITDA increased 107% to $58 million.
Committed and Awarded Projects (CAP) increased to a record $7.2 billion, providing strong multi-year visibility. Management pointed to continued opportunities across federal, state, local, and private markets, while also raising full-year 2026 guidance following the quarter and recent project awards.
Looking Ahead
Looking forward towards the rest of 2026, the setup for civil and infrastructure contractors remains favorable. Record or near-record backlog levels, multi-year public funding programs, and sustained private investment tied to data centers, semiconductors, power, and logistics infrastructure continue to support strong demand visibility.
At the same time, population growth and economic expansion across the Sunbelt continue to drive lane expansion, resurfacing, maintenance, and site development activity across transportation and civil end markets.
Leading contractors are reinforcing their competitive positions through disciplined bidding, vertical integration, bolt-on acquisitions, and expansion into higher-growth end markets. With balance sheets generally healthy and bidding pipelines active, the group appears well positioned to sustain growth and solid margin performance through the remainder of 2026.
