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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WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) is ranked number one in the Highways market and number three in the Mining market in the 2023 Top Contractors Sourcebook by Engineering News-Record (ENR) magazine. ENR ranks the largest U.S.-based public and private companies in major market sectors and is widely regarded as the industry's leading trade publication. This marks the third consecutive year and five out of the last six years that Granite has achieved the #1 ranking in Highway.

ENR Ranks Granite Number One in Highways for the Third Consecutive Year

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) is proud to announce that it has been honored with six awards including the prestigious Louis Griesemer Sterling Safety large company award by The National Stone, Sand & Gravel Association (NSSGA). This esteemed recognition was conferred during the NSSGA Legislative & Policy Forum, held in Washington DC on September 25, 2023. The Louis Griesemer Sterling Safety Award is a testament to the steadfast commitment of NSSGA member compa.

Granite Wins Six Safety and Environmental Awards From NSSGA

Granite (GVA) wins the storm damage repair project by Caltrans, in the Sequoia National Forest near Kings Canyon National Park. The project's expected value is $12.5 million.

Granite (GVA) Wins the Time and Materials Contract by Caltrans

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded a time and materials contract by the California Department of Transportation (Caltrans). Granite will clear and repair multiple rock and mudslide areas to restore access through the Sequoia National Forest near Kings Canyon National Park. The project, funded by Caltrans, is expected to generate $12.5 million of work and will be included in Granite's third-quarter CAP. Kings Canyon National Park's breathtaking landscapes a.

Caltrans Awards Granite Sequoia National Forest Storm Damage Repair Project

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) is pleased to announce it has won two ARC Awards in 2023. Granite's 2022 Sustainability Report won Gold, and its 2022 Annual Report won Silver, in this year's — the 37th — annual international competition. Across six continents, 90 countries competing, 15 languages submitted, spanning 24 time zones, the ARC Award's mission is to celebrate the creativity of the annual report in all its forms. “This award reflects the hard work and collabor.

Granite Takes Home Gold and Silver at the 2023 MerComm ARC Awards

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) is honored to be recognized as the Presenting Partner of The Associated General Contractors of California (AGC of California) and the AGC Construction Education Foundation (AGC CEF), Inclusive Leaders Institute. Granite's sponsorship aims to bolster the program's mission of arming industry executive leaders with the tools essential for fostering inclusivity within their workplaces. Having witnessed the successful completion of the inaugur.

AGC of California Announces Granite Construction as Presenting Partner for Inclusive Leaders Institute

Granite Construction (GVA) is set to fortify and modernize the Deer Creek Dam & Reservoir in Heber Valley, Utah.

Granite Construction (GVA) Wins $73M CM/GC Deal From PRWUA

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) is proud to announce its groundbreaking Construction Manager/General Contractor (CM/GC) project to fortify and modernize the iconic Deer Creek Dam & Reservoir in Heber Valley, Utah. The approximately $73 million project was awarded and funded by the Provo River Water Users Association (PRWUA). A cornerstone of essential infrastructure for over eight decades, the Deer Creek Dam & Reservoir is a lifeline for more than 1.5 million re.

Granite Selected for Approximately $73 Million CM/GC Water Project in Utah

Granite (GVA) is set to build auxiliary lanes and bus-on-shoulder facilities in Capitola, CA.

Granite (GVA) Wins $72M Caltrans Contract, Fortifies Q2 CAP

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded an approximately $72 million contract by the California Department of Transportation (Caltrans) to build auxiliary lanes and bus-on-shoulder facilities on Highway 1 between Bay/Porter and State Park Drive in Capitola, California. Funded by the Santa Cruz County Regional Transportation Commission (SCCRTC), with Local Measure D-Highway Corridor funds, Senate Bill 1 grants, and other SCCRTC discretionary funds, the project w.

Granite Selected for Approximately $72 Million Project in Capitola, California

Granite (GVA) to support the city of Akron in transforming sewer infrastructure.

Granite (GVA) Wins $215M NSIT Contract, Fortifies Q3 CAP

Granite Construction's stock price has increased by 18% since my previous article in May, despite a slight correction post-Q2 earnings. The company's revenue growth is expected to benefit from a healthy backlog of projects and infrastructure investment initiatives. The stock is attractively valued and has good long-term growth prospects, leading to a buy rating.

Granite Construction: Good Long-Term Growth Prospects At Attractive Valuation

Granite Construction Incorporated (NYSE:GVA ) Q2 2023 Earnings Conference Call July 27, 2023 11:00 AM ET Company Participants Mike Barker - Vice President-Investor Relations Kyle Larkin - President & Chief Executive Officer Lisa Curtis - Executive Vice President & Chief Financial Officer Conference Call Participants Brent Thielman - D.A. Davidson Brian Russo - Sidoti Steven Ramsey - Thompson Research Group Michael Dudas - Vertical Research Operator Good morning.

Granite Construction Incorporated (GVA) Q2 2023 Earnings Call Transcript

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) today announced results for the quarter ended June 30, 2023. Second Quarter 2023 Results Net loss totaled $17 million, or $(0.39) per diluted share, compared to net income of $19 million, or $0.39 per diluted share, for the same period in the prior year. Net loss in the quarter was primarily attributable to a $51 million non-cash charge related to the refinancing of our convertible bonds and a $12 million charge.

Granite Reports Second Quarter 2023 Results

Granite's (GVA) recent Highway 101 upgrade contract is set to fortify its second-quarter CAP.

Granite (GVA) Wins Contract to Upgrade Highway 101 in CA

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded an approximately $23 million contract by the California Department of Transportation (Caltrans) to upgrade Highway 101 in Mendocino, California. Project funding will come from the Federal Highway Administration (FHWA) and is expected to be included in Granite's second quarter CAP. Granite's work includes upgrading four miles of median barrier and resurfacing a ten-mile section of Highway 101 between Ukiah and Willits know.

Granite Selected for Approximately $23 Million Surface Replacement Project along Highway 101

Granite (GVA) wins the Option X portion of the Polychrome Area Improvements project by the FHWA for a total value of $51.5 million.

Granite (GVA) Secures $51.5M Construction Option in Alaska

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded Option X for the Polychrome Area Improvements Construction Manager/General Contractor (CM/GC) project by the Federal Highway Administration (FHWA) in Denali National Park in Alaska. This construction option is $51.5M, bringing the total value of awarded options to $67M since preconstruction began in January 2023. The overall contract is broken into three major options; Option W for long-lead materials procurements made as.

Granite's CMGC Work Continues in Denali National Park

Granite Construction (GVA) receives a $48-million contract by the U.S. Army Corps of Engineers (USACE) to mitigate flood risk and damage in Wharton, TX.

Granite Construction (GVA) Secures $48M Contract From USACE

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) Sustainability Manager Raven Adams was recognized by the UN Global Compact Network USA (Network USA) as a 2023 USA SDG Pioneer — a business leader who is championing the Sustainable Development Goals (SDGs) and inspiring others to advance the 2030 Agenda for Sustainable Development. Raven was chosen from a network of more than 1,000 entities from across the US. Since 2019, Raven Adams has led the sustainability program at Granite Construc.

Network USA Recognizes Granite Sustainability Manager Raven Adams for Championing Sustainable Development Goal

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded an approximately $48 million contract by the U.S. Army Corps of Engineers (USACE) to mitigate flood risk and damage in Wharton, Texas. Project funding will come from the USACE's fiscal 2023 civil construction funds and is expected to be included in Granite's second quarter CAP. The city of Wharton has significant existing and historical flooding issues from the Colorado River, Caney Creek, Baughman Slough, and Peach Creek.

Granite Selected for Approximately $48 Million Flood Control Project in Texas

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) received multiple awards from the Associated General Contractors of Washington (AGCW) at this year's Build Washington Awards. Each year, AGCW recognizes the top projects completed and submitted by members from across the state as well as the most effective safety programs and teams from the past year. Granite's Pacific Northwest Region was recognized for three awards: Construction Excellence Award - Highway/Transportation Under $5M for th.

Granite's Pacific Northwest Region Recognized by AGC Washington at Build Washington Awards

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded a $48 million contract by the California Department of Transportation (Caltrans) to reconstruct a section of Highway 101: Montecito project in Santa Barbara County, California. This project is the fourth mainline segment (4D North) awarded to Granite under its Construction Manager/General Contractor (CMGC) contract to reconstruct 10.9 miles of Highway 101. In December 2018, Granite announced that it had been selected as t.

Granite's Highway 101 CMGC Work Continues with an Approximately $48 Million Contract

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today its “Sustainable Practices | Materials” video has been named Best General Non-Broadcast in the 44th Annual Telly Awards. The Telly Awards honors excellence in video and television across all screens and is judged by leaders from video platforms, television, streaming networks, production companies and including Adobe, BBC World Service, Netflix, Dow Jones, Complex Networks, Jennifer Garner, A&E Networks, Hearst Media,.

Granite's “Sustainable Practices” Video Wins Big at the 44th Annual Telly Awards

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) was awarded an approximately $29 million contract by the California Department of Transportation (Caltrans) to widen a section of Highway 1 in Santa Cruz, California. The project is funded by the Santa Cruz County Regional Transportation Commission (SCCRTC), with Local Measure D-Highway Corridor funds, Senate Bill 1 grants, as well as other SCCRTC discretionary funds used to complete the work necessary to ready the project for constructio.

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