Granite Construction

Granite Construction, Inc. is a holding company. It operates as an infrastructure contractor and a construction materials company in the United States. It operates through the following segments: Construction and Materials. The Construction segment is involved in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure, and site development for use by the public. It also focuses on water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies. The company also constructs various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar, and power projects. The Materials segment is involved in the production of aggregates and asphalt for internal use, as well as for sale to third parties. In addition, it offers site preparation, mining, and infrastructure services for residential development, energy development, commercial and industrial sites, and other facilities, and provides construction management professional services. The company serves federal agencies, state departments of transportation, local transit authorities, county and city public works departments, school districts and developers, utilities, contractors, landscapers, manufacturers of products requiring aggregate materials, retailers, homeowners, farmers, brokers, and private owners of industrial, commercial, and residential sites. The company was founded in 1922 and is headquartered in Watsonville, CA.

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Granite Construction reports highest net income since 2008, eyes growth

Granite Construction's Q4 2022 earnings call highlighted strong financial performance, strategic achievements, and a focus on safety and margin improvements. The company outlined plans for organic growth, potential M&A, and leveraging IIJA funds for growth investments in 2023.

Granite Construction overcomes weather challenges, eyes strong growth in 2023

Granite Construction navigated weather challenges in Q1 2023, reporting record CAP total and stable costs.
Opportunities arose from the weather disruptions, with a focus on strategic growth and safety commitment.
Challenges included weather impacts on revenue projections, but the company remains optimistic about meeting guidance.
Acquisitions and strong order volumes position the company for continued growth and margin progression in 2023.

Granite Construction reports robust Q2 performance and eyes 2024 growth

Granite Construction's Q2 2023 earnings call highlighted strong performance, strategic acquisitions, operational excellence, and confidence in future growth. Despite challenges, the company is focused on addressing issues and seizing opportunities for revenue growth and expansion.

Granite Construction reports robust Q3 growth and eyes strategic expansion

Granite Construction's Q3 2023 performance showcased strong growth in both Construction and Materials segments, driven by strategic investments and operational efficiency.
While facing challenges in maintaining growth momentum and margin gains, the company's solid financial health and focus on expansion present opportunities for future success.
With a record high-quality CAP, strong cash flow, and plans for strategic expansion, Granite Construction remains on track to meet its financial targets and pursue growth beyond 2024.

Granite Construction posts strong Q4 results, eyes revenue growth

Granite Construction's strategic investments and acquisitions are driving revenue growth and margin expansion. The company's shift in business model over the past 3 years has positively impacted cash generation and derisked the portfolio. Focus on SG&A efficiency, cash flow improvement, and revenue growth sets a positive trajectory for future performance.

Granite Construction (GVA) reports robust Q1 performance and growth strategies

Granite Construction (GVA) delivered strong financial results in Q1 2024, driven by the performance of its Construction and Materials segments. The company is focused on meeting guidance, maintaining growth momentum, and exploring strategic opportunities for expansion through M&A activities.

Granite Construction (GVA) reports robust Q2 performance and strategic acquisitions

Granite Construction's Q2 2024 earnings call highlighted strong performance, operational efficiency, and strategic acquisitions driving revenue and profitability growth.
While facing narrowed revenue guidance and integration challenges, the company remains focused on home markets, best value projects, and financial resilience.
With a clear emphasis on operational excellence and growth opportunities, Granite Construction is poised for continued success and value creation in the construction and materials sectors.

Granite Construction (GVA) reports robust Q3 performance and strategic growth plans

Granite Construction (GVA) showcased strong financial performance and strategic planning in Q3 2024 earnings call.
The company's focus on growth, margin improvement, and cash flow generation reflects a commitment to long-term success.
While facing challenges such as project delays and margin expansion, Granite Construction remains poised to capitalize on opportunities for growth and market leadership.

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The weak US economy and the high unemployment rate should set the stage for an infrastructure rebuilding program. Bipartisan support for a long-overdue project.

Granite Construction Is Positioned For U.S. Infrastructure Rebuilding

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced that it has been awarded the West Refueler Loading Facility & West Solid Waste Facility project by the San Diego County Regional Airport Authority at the San Diego International Airport (SAN). The $16 million contract is anticipated to be booked in Granite's fourth quarter 2020 backlog. The project includes the construction of a five-bay refueler loading facility connecting the existing fuel transfer pipeline near the fuel f

Granite Awarded $16 Million Airport Refueling Facility Project in San Diego

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced it has been awarded the State Route 74 Ortega Highway Widening Project by the California Department of Transportation (Caltrans) in Lake Elsinore, California. The $39 million contract is anticipated to be included in Granite's fourth quarter 2020 backlog. To enhance the safety of this busy route between the cities of Lake Elsinore and San Juan Capistrano, this project will widen State Route 74 from Lake Elsinore to the Riverside

Granite Awarded $39 Million Highway Widening Project in Southern California

San Diego, California--(Newsfile Corp. - December 1, 2020) -  The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in (NYSE: GVA) shares.Investors, who purchased shares of Granite Construction Incorporated (NYSE: GVA), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.On August 13, 2019, a lawsuit was filed against Granite Construction Incorporated over alleged securities laws violations. The plaintiff alleged, that the Defendants made...

NOTICE For Investors In NYSE: GVA Shareholder Notice: Update in Lawsuit against Granite Construction Incorporated announced by Shareholders Foundation

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) announced that effective December 1, 2020, James A. Radich is appointed executive vice president and chief operating officer (COO). As COO, Radich will be responsible for overseeing the day-to-day operations of the company and will provide the leadership to ensure that the appropriate reporting procedures, people, and systems are in place to meet the operating requirements and financial goals of the company. Radich will join the Executive

Granite Names James A. Radich as Chief Operating Officer

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) has named Brian R. Dowd as senior vice president and California group manager, effective January 1, 2021. Dowd currently serves as vice president of Granite's Nevada region and is a 34-year veteran of the company. “Brian is a dynamic leader that will help guide our California operations continued growth as we work to meet the needs of all of our public and private clients,” said Granite President and Principal Executive Officer Kyle Larki

Granite Names Brian R. Dowd as Head of Its California Operations

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) today provided a business update and third quarter 2020 preliminary select financial information. “I am pleased today to discuss some highlights of Granite's recent performance, but first, I want to thank the Board of Directors for their confidence in my ability to lead Granite through the near-term challenges we are facing as we work to implement our long-term strategic vision,” said Kyle T. Larkin, President a

Granite Provides Business Update and Third Quarter 2020 Preliminary Select Financial Information

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) announced today that it has been awarded a sub-contract by Swinerton for the University of California, Santa Cruz (UCSC) Kresge College Work Package #4. The $18 million contract is anticipated to be included in Granite's fourth quarter 2020 backlog. This is the second project Granite has been awarded as part of UCSC's multi-year Kresge College Renewal Project. Scope of work for Package #4 includes the construction of the retaining walls a

Granite Awarded $18 Million Contract for University of California, Santa Cruz Renewal Project

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) announced it has been awarded a $12 million contract for the Oakhurst Midtown Connector project by the County of Madera in Oakhurst, California. The contract was included in Granite's third quarter 2020 backlog. By constructing a new two-lane road connecting State Route 41 with Indian Springs Road/High School Road, in Oakhurst, traffic congestion from Highway 41 to Road 426 will be alleviated. Granite will be responsible for the construct

Granite Awarded $12 Million Roadway Construction Project in California's Central Valley

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) announced that it has been awarded two airport projects totaling $15 million, one in Inyokern, California, and one in Anchorage, Alaska. The $9 million Inyokern Airport Reconstruct Runway 2-20 project has been awarded by the Indian Wells Valley Airport District. Granite is responsible for the removal and reconstruction of runway 2-20. The existing runway will be recycled onsite and used for 12,700 cubic yards of recycled base under the ne

Granite Awarded Two Airport Projects in Alaska and California Totaling $15 Million

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today that it has been selected by California Department of Transportation (Caltrans) as the Construction Manager/General Contractor (CM/GC) for the $257 million State Route 99 Rehabilitation from El Dorado Street to Clinton Ave project in Fresno, California. The first phase of this contract is the construction management portion which is valued at $3 million. The entire project is valued at $257 million. The State Route 99 Reha

Granite Selected for $257 Million Construction Manager/General Contractor Project in Central California

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) announced today that Granite Inliner, LLC., a wholly-owned subsidiary of Granite, has been issued a Construction Manager at Risk (CMAR) contract by the Metro Wastewater Reclamation District in Denver, Colorado for the PAR 163 Interceptor Rehabilitation 2020-2022 project. CMAR is a construction delivery method where the construction manager acts as an agent of the owner in both the design and construction phases to provide scheduling, cost

Granite Inliner Awarded CMAR Sewer Interceptor Rehabilitation Project in Denver

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) announced it has been awarded a $16 million task order contract by the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) for the Permanent Housing Construction - New Construction for Disaster Declaration project in Saipan, CNMI. The contract will be booked into Granite's fourth quarter 2020 backlog. This project is part of a previously awarded U.S. Department of Homeland Security’s national multiple award c

Granite Awarded $16 Million Task Order Contract by the Federal Emergency Management Agency

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) is the proud recipient of three National Stone, Sand, and Gravel Association (NSSGA) 2020 Awards of Excellence comprised of two Environmental Excellence awards and one Community Relations award. Granite’s Palmer Facility in Anchorage, Alaska and Lockwood Quarry in Sparks, Nevada both received the NSSGA Environmental Excellence Award which recognizes operations for outstanding commitment to environmental practices. These facilities activel

Granite Aggregate Plants Receive NSSGA Awards of Excellence

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) announced today that it has been awarded the El Portal Pedestrian Rail Undercrossing project in Encinitas, California by the San Diego Association of Governments (SANDAG). The contract award of $7 million will be booked into Granite's third quarter 2020 backlog. The El Portal Pedestrian Rail Undercrossing project is part of a larger local transportation upgrade plan spearheaded by SANDAG with a heavy emphasis on rail-related projects. The

Granite Awarded $7 Million Pedestrian Rail Undercrossing and Shared Use Path Project in Southern California

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite Construction Incorporated (NYSE: GVA) announced the appointment of Kyle T. Larkin as President and Principal Executive Officer, as well as the upcoming retirement of President and Chief Executive Officer James H. Roberts. These changes were effective September 22, 2020. Mr. Larkin, age 49, has been an integral part of Granite’s evolution and growth since joining the Company in 1996, and since February 2020, has been responsible for day-to-day operat

Granite Announces Appointment of Kyle T. Larkin as President and Principal Executive Officer

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite’s (NYSE:GVA) SR-28 Lake Tahoe East Shore Trail (SR-28 Trail) project in Incline Village, Nevada has received the 2020 Construction Risk Partners Build America Award in Construction Management from the Associated General Contractors of America (AGC). The AGC Build America Award honors AGC members who build the nation's most impressive construction projects across the building, highway and transportation, utility infrastructure, and federal and heavy

Granite Wins 2020 Build America Award for Iconic Lake Tahoe Trail

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) (the “Company”) today announced that it has received an extension for continued listing and trading of the Company’s common stock on the New York Stock Exchange (the “NYSE”). The extension of an additional six months gives the Company until March 18, 2021 to file its Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Form 10-K”) and its subsequent Quarterly Reports on Form 10-Q (the “2020

Granite Announces New York Stock Exchange Listing Extension

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WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) recently opened their Big Rock Aggregate and Asphalt Plant in Llano, California.

Granite Opens New Southern California Big Rock Materials Plant

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) has been awarded a $24 million design-build contract for the Interstate 5 (I-5) and State Route (SR) 11 Padden Creek - Fish Passage project in Bellingham, Washington by the Washington State Department of Transportation (WSDOT).

Granite Awarded $24 Million Design-Build Project in Bellingham, Washington

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) is pleased to announce a Granite Inliner project, the Stamford Interceptor Trunk Sanitary Sewer Phase 1 Project for the Region of Niagara, Ontario, has been awarded the Association of Municipalities of Ontario (AMO) Gas Tax Award.

Granite Project Wins Association of Municipalities of Ontario Gas Tax Award

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) announced that Granite Inliner, a wholly-owned subsidiary with one of the most comprehensive service portfolios in the piping infrastructure renewal industry, has been awarded five sewer renewal contracts totaling approximately $148 million by the City of Chicago.

Granite Inliner Awarded Five Trenchless Sewer Lining Contracts Totaling $148 Million in Chicago

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Efforts to recover Nevada’s threatened Lahontan Cutthroat Trout (LCT) continue at Derby Dam in Sparks, Nevada this week as Granite (NYSE:GVA) and its partners, the Farmers Conservation Alliance (FCA) and the Bureau of Reclamation, begin the installation of the engineered log jam (ELJ) and plunge pool in the Truckee River.

Granite Team Installs Log Jam at Derby Dam Fish Screen

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) is pleased to announce its 2019 Sustainability Progress Report has been awarded Gold by MerComm in their 2020 Annual Report Competition (ARC).

News for Granite Construction Stock (GVA)