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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WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) announced that its Alaska Region received the Associated General Contractors of Alaska's 2021 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. In 2021, the Alaska team onboarded 190 craft employees, and worked on 33 projec

Granite's Alaska Region Receives Major Safety Award

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) announced today that Sand Ridge Constructors, a joint venture of Granite and W.W. Clyde & Co., has been awarded the $16.5 million construction manager portion of the 5600 South Progressive Design Build (PDB) project by the Utah Department of Transportation (UDOT). The project construction contract is anticipated to be $155 million with Granite taking $93 million of the total (60 percent). The construction manager contract was included

Granite Joint Venture Secures $155 Million Progressive Design Build Project in Utah

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) today announced several actions designed to position the Company to focus on efficiently growing its core civil construction and materials business. Strategic Actions On February 2, 2022, we entered into a definitive agreement with Inland Pipe Rehabilitation, a portfolio company of investment affiliates of J.F. Lehman & Company to sell Inliner for a purchase price of $159.7 million. The sale has been unanimo

Granite Announces Divestitures and Actions in Alignment with New Strategic Plan

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) announced today that it has secured the approximately $16 million contract for the Eastside Rail Corridor Regional Trail NE 8th Street Crossing project in Bellevue, Washington. The project was awarded by King County and will be funded by King County and Sound Transit. The award is anticipated to be included in Granite's first quarter CAP. This project is a key portion of the Eastrail program, which is converting 42 miles of abandoned rail

Granite Awarded $16 Million Pedestrian Overpass Project in Bellevue, Washington

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) announced today that it has been selected by the California Department of Transportation (Caltrans) as the Construction Manager/General Contractor (CM/GC) for the approximately $90 million State Route 70 Binney Junction Roadway Rehabilitation and Complete Streets CM/GC project. In the first phase of this project, valued at $1.3 million, Granite will work closely with Caltrans and project designers on the design, constructability, and cost

Granite Selected for $90 Million Construction Manager/General Contractor Project in Northern California

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) is proud to celebrate our centennial on January 4th, 2022. Founded 100 years ago in Watsonville, California, Granite has grown into one of our nation's largest civil infrastructure contractors and construction materials producers. Granite works in multiple end-markets from Guam to Alaska to Florida and many points in between. Granite President and CEO Kyle Larkin wrote the following open letter to mark this occasion: “It is hard to apprec

Granite Marks One Century in Business

BOSTON, Dec. 31, 2021 /PRNewswire/ -- Kyros Law Offices is alerting investors of Granite Construction Incorporated (NYSE: GVA) that the deadline in filing claims from the investor lawsuit settlement against the company is fast approaching. The company has agreed to settle a shareholder lawsuit filed against it by investors for over $120 million dollars.

NYSE: GVA Investor Alert: Kyros Law is Filing Legal Claims on Behalf of Granite Construction Incorporated (NYSE: GVA) Investors

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) is proud to demonstrate its commitment to bringing more women into leadership as part of Catalyst CEO Champions for Change. These CEO champions continue to advance women in their organizations at every level across the leadership pipeline, particularly in the executive ranks—demonstrating their commitment to doubling down on diversity, equity, and inclusion (DEI) in the midst of a global pandemic and turbulent economy. According to the ne

Granite and CEO Larkin Demonstrate Commitment to Accelerate Women's Representation in Leadership

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) was honored to receive two 2021 CalCIMA Excellence in Safety Awards at the 2021 CalCIMA Education Conference. The awards recognize "exceptional contributions to safety leadership, innovation, and commitment," and award categories include aggregate, industrial mineral, cement, concrete, and asphalt facilities, as well as employees, safety professionals, and special recognition. Granite's Solari Sand & Gravel facility in Arvin, Californ

Granite Plants Earn 2021 CalCIMA Excellence in Safety Awards

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) is proud to announce that CIO Malcolm Jack has been named a 2021 Info-Tech CIO Awards winner by Info-Tech Research Group, a leading IT research and advisory firm. Since 2016, the CIO Awards have recognized outstanding industry leaders for delivering exceptional value to their organizations and for achieving high scores in stakeholder satisfaction in Info-Tech's CIO Business Vision program. This program measures an organization's satisfact

Info-Tech Research Group Names Granite CIO Malcolm Jack as 2021 Info-Tech CIO Awards Winner

Granite Construction Incorporated (GVA) CEO Kyle Larkin on Q3 2021 Results - Earnings Call Transcript

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) today announced results for the third quarter ended September 30, 2021. Third Quarter 2021 Results Net income increased to $35.0 million, or $0.73 per diluted share, compared to a net loss of ($91.2) million, or ($2.00) per diluted share, for the same period last year. Adjusted net income(1), which excludes other costs(3), non-cash impairments of goodwill, transaction costs (4), a gain on sale of property and am

Granite Reports Third Quarter 2021 Results

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) announced today the release of the first Construction DEI Talks podcast. This new podcast is produced in partnership with Rosendin and is co-hosted by Granite Vice President of Inclusive Diversity, Jorge Quezada; Rosendin Director of Lean Culture, Stephanie Roldan; and Granite Inclusive Diversity Business Partner, Aby Combs. Quezada joined Granite in 2019 and has been leading the company's inclusion and diversity initiatives. “We've made

First Episode of “Construction DEI Talks” Podcast with CEOs Kyle Larkin and Mike Greenawalt Now Available

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) announced the award of a runway repair project at Cannon Air Force Base (AFB) by the Albuquerque District of the U.S. Army Corps of Engineers (USACE). Located in Curry County, on New Mexico's high eastern plains, Cannon AFB is home to units of the Air Force Special Operations Command. The $19 million contract is anticipated to be included in Granite's fourth quarter committed and awarded projects (CAP). Granite's scope of work consists of

Granite Awarded $19 Million Runway Repair at Cannon AFB

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) announced today its support of the inaugural Construction Inclusion Week, taking place October 18-22, 2021. Construction Inclusion Week, which coincides with Granite's internal Inclusion Core Value month, was conceived by an industry consortium, “Time for Change,” in 2020. The stated purpose of the group is to “identify ways to advance diversity, equity, and inclusion in construction.” “Time for Change” has developed a website with a wide

Granite to Participate in First Construction Inclusion Week

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) is ranked No. 1 in the Highway market from the 2021 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. “We are very happy to be recognized by ENR as the number one highway contractor and among the top twenty-five of the ENR Top Contractors List,” said Granite President

ENR Ranks Granite Number One in Highways

Granite Construction (GVA) could be a solid choice for shorter-term investors looking to capitalize on the recent price trend in fundamentally sound stocks. It is one of the many stocks that passed through our shorter-term trading strategy-based screen.

Recent Price Trend in Granite Construction (GVA) is Your Friend, Here's Why

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Today, Granite (NYSE:GVA) published its 2020 Sustainability Report, which highlights the company's advancement on environmental, social, and governance (ESG) initiatives. With the theme Respect, Responsibility, Resilience, the report reflects the company's perspective on a year that highlighted the importance of integrating sustainability into business strategy to enhance agility and resilience in the face of complex challenges. The report unveils Granite's

Granite Publishes Annual Sustainability Report Unveiling New ESG Priorities

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) announced it has been awarded the DBB1 contract by the Tucson Airport Authority (TAA) as part of their Airfield Safety Enhancements (ASE) program at Tucson International Airport (TUS) in Tucson, Arizona. The new project, in concert with the previously awarded Construction Manager at Risk (CMAR) project at TUS, continues Granite's history of successful partnership and coordination with TAA. DBB1 is the 14th project at TUS awarded to Granit

Granite Awarded $25.7 Million Airfield Safety Enhancement Project at Tucson International Airport

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The bipartisan infrastructure bill is almost finalized in the Senate and looks also to pass the House. Biden will sign it into law if it does.

Infrastructure Portfolio: Resetting The Table

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) has been awarded a $64 million contract for the Jurupa Road Grade Separation project by the Riverside County Transportation Department in Jurupa Valley, California. The contract award was included in Granite's second quarter committed and awarded projects (CAP). The scope of work includes separating Jurupa Road and the Union Pacific Railroad by constructing a grade separation and relocating existing rail spurs. As the daily vehicle traffi

Granite Awarded $64 Million Road Separation Contract in Southern California

Granite Construction Incorporated (GVA) CEO Kyle Larkin on Q2 2021 Results - Earnings Call Transcript

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) today announced results for the second quarter ended June 30, 2021. Second Quarter 2021 Results Net income increased to $54.5 million, or $1.14 per diluted share, compared to net income of $3.4 million, or $0.07 per diluted share, for the same period year-over-year. Adjusted net income(1), which excludes other costs(3), non-cash impairments of goodwill, transaction costs (4), gain on sale of property and amortiz

Granite Reports Second Quarter 2021 Results

Granite Construction Inc. (NYSE: GVA) has secured a $28 million contract from the Washington State Department of Transportation to construct the 148th Ave. NE Interchange Access Ramp in downtown Redmond, Washington.

Granite Bags $28M Interchange Access Ramp Project

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #BuildBetterTogether--Granite (NYSE:GVA) announced it has been awarded the contract to construct the 148th Ave. NE Interchange Access Ramp in downtown Redmond, Washington by the Washington State Department of Transportation (WSDOT). The approximately $28 million award is anticipated to be included in Granite's second quarter committed and awarded projects. The new access ramp will provide a direct connection from the SR 520 offramp to new arterials, Hopper Street, Lumiere Street

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