As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the construction and maintenance services industry, including Great Lakes Dredge & Dock (NASDAQ: GLDD) and its peers.

Construction and maintenance services companies not only boast technical know-how in specialized areas but also may hold special licenses and permits. Those who work in more regulated areas can enjoy more predictable revenue streams - for example, fire escapes need to be inspected every five years. More recently, services to address energy efficiency and labor availability are also creating incremental demand. But like the broader industrials sector, construction and maintenance services companies are at the whim of economic cycles as external factors like interest rates can greatly impact the new construction that drives incremental demand for these companies’ offerings.

The 13 construction and maintenance services stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 4.1% while next quarter’s revenue guidance was 0.7% above.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 5.5% since the latest earnings results.

Great Lakes Dredge & Dock (NASDAQ: GLDD)

Founded as Lydon & Drews dredging company, Great Lakes Dredge & Dock (NASDAQ: GLDD) provides dredging services, land reclamation, and coastal protection projects in the United States and internationally.

Great Lakes Dredge & Dock reported revenues of $195.2 million, up 2.1% year on year. This print fell short of analysts’ expectations by 3%, but it was still a strong quarter for the company with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

Lasse Petterson, President and Chief Executive Officer, commented, “Great Lakes delivered another solid quarter, driven by strong project execution and high equipment utilization. We ended the quarter with revenue of $195.2 million, net income of $17.7 million, and adjusted EBITDA of $39.3 million. Our substantial dredging backlog stood at $934.5 million as of the end of the third quarter, with an additional $193.5 million in low bids and options pending award, providing revenue visibility for the remainder of 2025 and well into 2026. Capital and coastal protection projects account for over 84% of our dredging backlog, which typically yield higher margins for GLDD due to our experienced project teams and our extensive fleet.

Interestingly, the stock is up 48.6% since reporting and currently trades at $16.91.

Is now the time to buy Great Lakes Dredge & Dock? Access our full analysis of the earnings results here, it’s free.

Best Q3: Comfort Systems (NYSE: FIX)

Formed through the merger of 12 companies, Comfort Systems (NYSE: FIX) provides mechanical and electrical contracting services.

Comfort Systems reported revenues of $2.65 billion, up 41.7% year on year, outperforming analysts’ expectations by 13%. The business had an incredible quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Comfort Systems achieved the biggest analyst estimates beat among its peers. The market seems content with the results as the stock is up 2.9% since reporting. It currently trades at $1,413.

Is now the time to buy Comfort Systems? Access our full analysis of the earnings results here, it’s free.

Weakest Q3: Matrix Service (NASDAQ: MTRX)

Founded in Oklahoma, Matrix Service (NASDAQ: MTRX) provides engineering, fabrication, construction, and maintenance services primarily to the energy and industrial markets.

Matrix Service reported revenues of $210.5 million, up 12.5% year on year, falling short of analysts’ expectations by 2.3%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EBITDA estimates.

As expected, the stock is down 23.4% since the results and currently trades at $10.34.

Read our full analysis of Matrix Service’s results here.

Granite Construction (NYSE: GVA)

Having played a role in the construction of the Hoover Dam, Granite Construction (NYSE: GVA) is a provider of infrastructure solutions for roads, bridges, and other projects.

Granite Construction reported revenues of $1.17 billion, up 19.2% year on year. This print beat analysts’ expectations by 0.8%. Aside from that, it was a mixed quarter as it also produced full-year revenue guidance exceeding analysts’ expectations but a significant miss of analysts’ adjusted operating income estimates.

The stock is down 7.6% since reporting and currently trades at $123.08.

Read our full, actionable report on Granite Construction here, it’s free.

MYR Group (NASDAQ: MYRG)

Constructing electrical and phone lines in the American Midwest dating back to the 1890s, MYR Group (NASDAQ: MYRG) is a specialty contractor in the electrical construction industry.

MYR Group reported revenues of $973.5 million, up 17.3% year on year. This number topped analysts’ expectations by 8%. It was an incredible quarter as it also recorded a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

The stock is down 2.4% since reporting and currently trades at $267.43.

Read our full, actionable report on MYR Group here, it’s free.

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