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.

Earnings data Q1 2021

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Earnings data Q1 2024

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Earnings data Q3 2024

Earnings data Q4 2024

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 Construction Incorporated (NYSE: GVA) today announced results for the fourth quarter and year ended December 31, 2022. Fiscal Year 2022 Results Fiscal year 2022 net income totaled $83 million, or $1.70 per diluted share, and net income margin(2) was 2.5% compared to net income of $10 million, or $0.21 per diluted share, and net income margin(2) of 0.3% in the prior fiscal year. Fiscal year 2022 adjusted net income(1) totaled $104 million, or $2.

Granite Reports Fourth Quarter and Fiscal Year 2022 Results

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been selected by the Federal Highway Administration (FHWA) as Construction Manager/General Contractor (CM/GC) for the Polychrome Area Improvements project inside Denali National Park in Alaska. The CM/GC delivery method, which engages the contractor early in the design process for constructability input, provides more opportunity for innovation and efficiency than traditional delivery methods.

Alaska's Pretty Rocks Landslide to receive CMGC facelift from Granite Construction

WATSONVILLE, Calif.--(BUSINESS WIRE)--On Wednesday, February 8th, Granite's (NYSE:GVA) Desert Cities region won a National Asphalt Pavement Association (NAPA) 2022 Quality in Construction Award for excellence in the construction of an asphalt pavement during the association's 68th Annual Meeting. The winning project, the Avenue 52 and Calhoun Street reconstruction in Coachella, California, was built for the County of Riverside Transportation Department.

Asphalt Construction Project Earns Granite a NAPA Quality in Construction Award

WATSONVILLE, Calif.--(BUSINESS WIRE)--On Friday, February 3rd, Granite (NYSE:GVA) received the prestigious AGC of California Constructor Award in two categories: Heavy Civil Under $15 Million and Excellence in Partnering. The Constructor Awards program “recognizes the diversity and ingenuity of the construction industry by awarding the ‘best of the best' each year. The Constructor Awards highlight the challenges and successes of AGC of California member companies.

Safety and Connectivity Projects Win Big at Associated General Contractors of California Awards

WATSONVILLE, Calif.--( BUSINESS WIRE )--Granite (NYSE:GVA) has been awarded an approximately $46 million contract by the California Department of Transportation (Caltrans) to improve safety and mobility along U.S. Highway 101 in Humboldt County, California. The project will be funded by the Federal Highway Administration (FHWA) and was included in Granite's fourth quarter 2022 CAP.

Safety and Mobility Improvement Project nets Granite Approximately $46 Million Contract

WATSONVILLE, Calif.--( BUSINESS WIRE )--Granite's (NYSE:GVA) Washington Region won three different Associated General Contractors (AGC)/Washington Department of Transportation (WSDOT) Partnership for Excellence in Contract Administration Awards, which were presented at the AGC of Washington/WSDOT annual meeting.

Granite's Washington Region Receives Project Awards

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WATSONVILLE, Calif.--( BUSINESS WIRE )--Granite (NYSE:GVA) has been listed by Newsweek as one of America's Most Responsible Companies in 2023. This important recognition is presented by Newsweek and Statista Inc., the world-leading statistics portal and industry ranking provider. The awards list was announced on December 7th, 2022.

Granite Recognized as one of Newsweek's America's Most Responsible Companies

The Old Risk Portfolio (ORP) is nearing completion in 2023, and the company's efforts to strengthen CAP (backlog) should help revenue and margin growth. GVA's initiative of developing a second home market in Texas to expand its market share in the central group should also be positive for its future growth.

Granite Construction's Outperformance Can Continue

WATSONVILLE, Calif.--( BUSINESS WIRE )--Granite (NYSE:GVA) has been awarded an approximately $174 million contract by the City of Los Angeles and Los Angeles World Airports (LAWA) to construct new exit taxiways and reconstruct sections of existing runways. The project will be funded by LAWA's Capital Improvement Plan (CIP) and Federal Aviation Administration (FAA), and is expected to be included in Granite's fourth quarter CAP.

Granite Selected for Approximately $174 Million Los Angeles World Airports Construction and Rehabilitation Project

WATSONVILLE, Calif.--( BUSINESS WIRE )--Granite's (NYSE:GVA) Illinois Region team was presented with the Cook County Department of Transportation and Highways “Contractor of the Year Award” in recognition of their work on a steel truss strengthening project earlier this month.

Granite's Illinois Region Wins Contractor of the Year Award

WATSONVILLE, Calif.--( BUSINESS WIRE )--Granite (NYSE:GVA) announced today that it has been awarded an approximately $14 million traffic flow improvement project in Santa Barbara, CA by the California Department of Transportation (Caltrans). This is a ‘parallel project' to the Highway 101: Carpinteria to Santa Barbara suite of projects, which Granite is delivering using the innovative, collaborative Construction Manager General Contractor (CMGC) project delivery method. The project will be funded by the Regional Surface Transportation Program, and is expected to be included in Granite's fourth quarter CAP.

Granite Secures Approximately $14 million CMGC Traffic Flow Improvement Project

WATSONVILLE, Calif.--( BUSINESS WIRE )--Granite (NYSE:GVA) President and CEO Kyle Larkin has been selected for appointment to the Board of Directors of the National Asphalt Pavement Association (NAPA). Larkin will be appointed to an at-large seat starting in 2023, with his first official meeting at the NAPA annual meeting in Miami, Florida in February.

Kyle Larkin Appointed to National Asphalt Pavement Association Board of Directors

WATSONVILLE, Calif.--( BUSINESS WIRE )--Granite (NYSE:GVA) Executive Vice President and COO Jim Radich has been appointed to the Board of Directors of the American Road & Transportation Builders Association (ARTBA).

Jim Radich Appointed to American Road & Transportation Builders Association Board of Directors

WATSONVILLE, Calif.--( BUSINESS WIRE )--Granite (NYSE:GVA) announced that its Alaska Region received the Associated General Contractors (AGC) of Alaska's 2022 ConocoPhillips Excellence in Safety Award. The ConocoPhillips Excellence in Safety Awards are presented to encourage and honor excellence in construction safety throughout Alaska. The awards recognize builders in five divisions; Granite won the Highway Division award.

Granite's Alaska Region Receives AGC ConocoPhillips Excellence in Safety Award

PHILADELPHIA--( BUSINESS WIRE )-- Great Valley Private Advisor Group (GVA), a technology-driven, full-service Hybrid Registered Investment Advisor (RIA), today announced its partnership with financial technology company Pontera to enable advisors to manage and trade their clients' retirement assets across all accounts, including held-away assets such as 401(k)s and 403(b)s. Advisors can affiliate with GVA by joining the RIA, utilizing its Office of Supervisory Jurisdiction (OSJ), or via a hybrid model.

Great Valley Advisor Group Selects Pontera to Provide Tailored Retirement Solutions to Advisors

WATSONVILLE, Calif.--( BUSINESS WIRE )--Granite (NYSE:GVA) announced today that it has been selected as the Construction Manager/General Contractor (CMGC) for the Albion River Bridge Replacement/Rehabilitation project. Located near Albion, California, the project will be delivered using the CM/GC method, which includes the contractor early in the design process to incorporate the contractor's perspective in the planning process. This method provides more opportunities for innovation and efficiency than traditional project delivery methods. The construction portion of the project is anticipated to be valued in a range of $50 million to $85 million and awarded in 2026.

Granite Brought in for Preconstruction Services on Albion River Bridge CMGC Project

WATSONVILLE, Calif.--( BUSINESS WIRE )--Granite (NYSE:GVA) announced today that it has been awarded an approximately $15 million rehabilitation contract by the Arizona Department of Transportation (ADOT) for pavement rehabilitation and bridge deck repair. The project will be funded by Federal Highway Administration and ADOT to improve an almost 10 mile stretch of Interstate 10 (I-10) in Tucson, Arizona. The award is expected to be included in Granite's fourth quarter CAP.

Granite Selected for I-10 Pavement Rehabilitation Project in Tucson, Arizona

WATSONVILLE, Calif.--( BUSINESS WIRE )--Granite (NYSE:GVA) has been selected by the Arizona Department of Transportation (ADOT) for an approximately $170 million reconstruction project near Tucson, Arizona. The project will be funded by ADOT, the Regional Transportation Authority, Federal Highway Administration, and Pima County and will improve Interstate 10 (I-10) between the Ina Road and Ruthrauff Road interchanges by reconstructing I-10 to provide four general purpose lanes in each direction. The award is expected to be included in Granite's fourth quarter CAP.

Granite Selected for $170 Million in I-10 Reconstruction Project near Tucson

Granite Furthers Relationship with DHS and USCG Through Strategic Pacific Northwest Win

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Granite Construction to Present at the Baird 2022 Global Industrial Conference

Granite Construction Incorporated (NYSE:GVA ) Q3 2022 Earnings Conference Call October 27, 2022 11:00 AM ET Company Participants Mike Barker - VP, IR Kyle Larkin - President and CEO Lisa Curtis - EVP and CFO Conference Call Participants Michael Dudas - Vertical Research Partners Steven Ramsey - Thompson Research Group Brian Russo - Sidoti John Ramirez - Ben Tillman Operator Good morning. My name is Ramon, and I will be your conference facilitator today.

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