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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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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RENO, Nev.--(BUSINESS WIRE)--The Nevada Mining Association (NVMA) is kicking off its seventh annual Hope for Heat campaign on Memorial Day giving Nevadans a reason to quite literally ‘hope for heat' through Labor Day. Beginning Monday, May 30 (Memorial Day) and running through Monday, September 5 (Labor Day), the NVMA will make $90 contributions each day temperatures hit 90 degrees in Reno and Elko. The heat will be on in Southern Nevada as well, with a $100 donation every day the Las Vegas hea

Nevada Mining Association Launches 7th Annual ‘Hope for Heat' Campaign Benefiting Boys & Girls Clubs Statewide

Funding from the Infrastructure Investment & Jobs Act (IIJA) should strengthen Committed & Awarded projects in 2023 and beyond. The new strategic plan should help transform the company and put it back on a growth path.

Granite Construction Is A Good Buy At The Current Levels

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #100YearsOfGranite--Granite (NYSE:GVA) announced today that it has secured the contract for Segment Five of the I-40 Median Fill PM 100-125 in San Bernardino County, California. The approximately $10 million contract was awarded by Caltrans and will be funded by a mixture of state and federal sources. The award is anticipated to be included in Granite's second quarter CAP. The project is one segment in a series of median fill jobs along I-40. This work enhances the safety of m

Granite Wins Third Segment of I-40 Median Fill Project

Granite Construction (GVA) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.

Granite Construction (GVA) May Find a Bottom Soon, Here's Why You Should Buy the Stock Now

WATSONVILLE, Calif.--(BUSINESS WIRE)--On Friday, May 6, Granite (NYSE:GVA) published its 2021 Sustainability Report, highlighting the company's advancement on environmental, social, and governance (ESG) initiatives. “Sustainability is central to the purpose of our business as we seek to provide infrastructure solutions that support more sustainable and resilient communities,” said Granite President and Chief Executive Officer Kyle Larkin. “The theme of this Sustainability Report—Building Beyond

Granite Publishes Annual Sustainability Report Reflecting on 100-Year History

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #BuildingBetterTogether--Granite (NYSE:GVA) announced today that it has been awarded the approximately $36 million Navy-Commercial Tie-In Hardening (P661) project at the Joint Region Marianas naval base in Guam. This project is an integral part of a broader Navy initiative to increase the resilience of critical infrastructure serving Department of Defense installations on Guam. This award continues Granite's strong history of winning work in the area, with Granite and Granite joint

Granite Wins More Work in Guam with $36 Million Navy Contract

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) today announced that it has entered into an agreement to repurchase $50 million of its common stock in an accelerated share repurchase (“ASR”) transaction with Bank of Montreal (“BMO”). Granite is expected to fund the ASR using available cash on hand. “This ASR transaction is an important component of our capital allocation strategy,” said Kyle Larkin, Granite President and Chief Executive Officer. “The program

Granite Announces $50 Million Accelerated Share Repurchase Program

Granite Construction Incorporated (NYSE:GVA ) Q1 2022 Earnings Conference Call April 28, 2022 11:00 AM ET Company Participants Mike Barker - VP, IR Kyle Larkin - President and Chief Executive Officer Lisa Curtis - Executive Vice President and Chief Financial Officer Conference Call Participants Steven Ramsey - Thompson Research Group Michael Dudas - Vertical Research Brian Russo - Sidoti Zane Karimi - D.A. Davidson Operator Good morning.

Granite Construction Incorporated (GVA) CEO Kyle Larkin on Q1 2022 Results - Earnings Call Transcript

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) today announced results for the quarter ended March 31, 2022. First Quarter 2022 Results Net loss from continuing operations totaled ($19) million, or ($0.42) per diluted share, compared to a net loss from continuing operations of ($63) million, or ($1.38) per diluted share, in the prior year. Adjusted net loss from continuing operations (1) totaled ($13) million, or ($0.28) per diluted share, compared to adjust

Granite Reports First Quarter 2022 Results

WATSONVILLE, Calif.--(BUSINESS WIRE)--Second paragraph, first sentence of release should read: GARCO Testing Laboratories offers material design and quality testing services. (instead of GARCO Testing Laboratories, a wholly owned subsidiary of Granite Construction Company, offers material design and quality testing services.). The updated release reads:  GARCO TESTING LABORATORY JOINS CALIFORNIA GREEN BUSINESS NETWORK Granite (NYSE:GVA) announced today that GARCO's San Jose Testing Laboratory r

CORRECTING and REPLACING GARCO Testing Laboratory Joins California Green Business Network

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today that GARCO's San Jose Testing Laboratory recently joined the California Green Business Network. The testing facility functions as the base of operations for materials testing across Granite's Coastal California Region. As part of the Green Business certification, the facility satisfied targets for energy efficiency, water conservation, procurement, and materials management. GARCO Testing Laboratories, a wholly owned subsid

GARCO Testing Laboratory Joins California Green Business Network

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite's (NYSE:GVA) construction of the Derby Dam Fish Screen near McCarran, Nevada continues to win accolades with the recent award of the Associated General Contractors of America's “Construction Risk Partners Build America Merit Award for the Best Construction Management Civil Project.” The presentation of the Build America Merit Award recognizes the Derby Dam Fish Screen as one of the most significant construction projects of 2021. The project had prev

Granite's Derby Dam Fish Screen Wins More Recognition

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) announced today it has been awarded a major road improvement project by the City of Chandler, Arizona. The approximately $20 million award will be federally funded and managed by the city. It is the largest contract so far for Granite's newly established Phoenix Area office and will improve road safety and features along Chandler Heights Road from McQueen Road to Gilbert Road. The award is anticipated to be included in Granite's first qua

Granite Secures $20 Million Road Improvement Contract in Chandler, Arizona

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) announced today that it has been awarded the approximately $75 million contract for the I-515 and Charleston Boulevard Interchange improvement project by the Nevada Department of Transportation (NDOT). Located in Las Vegas, this project is being completed via the Construction Manager at Risk (CMAR) project delivery method. Granite was originally hired in 2017 to provide preconstruction services. The scope of work includes the widening of

Granite Secures $75 Million Roadway Project in Las Vegas

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) today announced the close of the sale of its trenchless and pipe rehabilitation services business (“Inliner”) to Inland Pipe Rehabilitation, a portfolio company of investment affiliates of J.F. Lehman & Company for a purchase price of $159.7 million. “I'm pleased to announce the completion of the Inliner sale,” stated Kyle Larkin, Granite President and CEO. “This sale and the expected sales of the Water Reso

Granite Announces Completion of the Inliner Sale

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--On Friday, March 11th, Granite (NYSE:GVA) received an AGC of California Constructor Award. 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 both the challenges and successes of AGC of California member companies.” Granite also won two Constructor Awards in 2021. The Mulholland Highway over Triunfo Creek Bridge project won in the

Granite Bridge Replacement Project Wins Award from the Associated General Contractors of California

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) announced today the approval and award of the approximately $22 million contract for the Moreno Valley/March Field Metrolink Station Track and Platform Expansion. Located in Moreno Valley, California, the project was awarded and is funded by the Riverside County Transportation Commission. The award is anticipated to be included in Granite's first quarter CAP. This project will expand the Moreno Valley Metrolink station, which connects the

Granite Secures $22 Million Metrolink Station Expansion Project

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) has been selected for the State Route 20 Omega Curve Realignment project in Nevada County, California. The project is awarded by Caltrans and funded by State and Federal aid. The $32 million contract is anticipated to be included in Granite's first quarter CAP. This project realigns two existing curves along State Route 20, a high-traffic area with many accidents, and will create a safer passage for the traveling public in Nevada County.

Granite Awarded $32 Million Highway Realignment in California

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite's (NYSE:GVA) Nevada Region responded to a roadway emergency on US Highway 50 near Echo Summit where a gigantic boulder slid, blocking traffic in and out of the Lake Tahoe Basin. The boulder, estimated to be 45-feet-wide by 25-feet-tall and described as being the size of a semi-truck, slid onto US-50 on Thursday, March 3 closing the roadway. Caltrans contacted Granite Project Manager Dan Caldwell, and Granite crews were dispatched on Friday, March 4

Granite Removes Large Boulder Blocking Popular Route to Lake Tahoe

Granite Construction's (GVA) CEO Kyle Larkin on Q4 2021 Results - Earnings Call Transcript

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE:GVA) today announced results for the fourth quarter and year ended December 31, 2021. Fiscal Year 2021 Results Fiscal year 2021 net income totaled $10.1 million, or $0.22 per diluted share, compared to a net loss of ($145.1) million, or ($3.14) per diluted share, in the prior fiscal year. Fiscal year 2021 Adjusted net income(2), which excludes other costs(3), non-cash impairments of goodwill, transaction costs(4), gai

Granite Reports Fourth Quarter and Fiscal Year 2021 Results

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) announced the award of three contracts totaling approximately $23.8 million by Ellis-Prairie Soil and Water Conservation District. Located in Ellis County, Texas, the first contract was included in Granite's fourth quarter 2021 CAP and the remaining two contracts are anticipated to be included in Granite's first quarter 2022 CAP. Granite's scope of work includes the rehabilitation and upgrading of floodwater retarding structures at three

Granite Secures $23.8 Million Award for North Texas Watershed Upgrades

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) and DTG Recycle today announced the execution of an agreement for Granite to operate the Anderson Rock Quarry at the DTG Recycle Sustainability Park in Yakima, WA. This agreement gives Granite the exclusive right to mine and manufacture aggregate and asphalt at the facility. In addition to the Anderson Rock Quarry, the DTG Recycle Sustainability Park is also home to the Summitview Landfill and the Cowiche Canyon Recycling Facility. The qu

Granite to Operate Anderson Rock Quarry at DTG Sustainability Park

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) is proud to announce that the Salinas Asphalt Facility has been certified as a Green Business by Monterey County and the California Green Business Network. The certification is a recognition that the plant has made meaningful efforts to conserve resources and reduce pollution. This marks the third Granite facility and second asphalt facility with the Green Business designation after the Santa Clara Asphalt Facility was certified in 2019.

Granite's Salinas Asphalt Facility Latest to be Certified Green Business

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) has received 72 awards and commendations from the National Asphalt Pavement Association (NAPA), recognizing the company's plant operations, paving operations, and adherence to best practices across six states. The awards were presented at NAPA's 67th annual meeting in Scottsdale, Arizona. Diamond Commendations The Diamond Commendation Program is a nationally recognized effort to document and promulgate best practices for “asphalt plant op

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