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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Granite Construction Incorporated (GVA) Management on Q4 2020 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, 2020. Fiscal Year 2020 Results Fiscal year 2020 net loss totaled ($145.1) million, or ($3.18) per diluted share, compared to a net loss of ($60.2) million, or ($1.29) per diluted share, in the prior year. Adjusted net income(1) for fiscal year 2020 totaled $60.0 million, or $1.30 per diluted share, compared to an adjusted net loss of ($27

Granite Reports Fourth Quarter and Fiscal Year 2020 Results

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA; the "Company") announced today that the record date for determining shareholders entitled to vote at the 2021 Annual Meeting of Shareholders (the "Annual Meeting") will be Monday, April 12, 2021. The Annual Meeting will be held virtually on Wednesday, June 2, 2021, beginning at 10:30 a.m. Pacific Time. About Granite Granite is America's Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one

Granite Construction Incorporated Announces Record Date and Date of 2021 Annual Meeting of Shareholders

WATSONVILLE, Calif.--(BUSINESS WIRE)--IDG's CIO has named Granite as a 2021 CIO 100 award winner. For more than 30 years, the CIO 100 awards have recognized innovative organizations around the world that exemplify the highest level of strategic and operational excellence in information technology. The annual CIO 100 Awards celebrate 100 organizations and the teams within them that are using IT in innovative ways to deliver business value, whether by creating competitive advantage, optimizing bu

Granite Announced as 2021 CIO 100 Award Winner

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA; the "Company") received a notice from the New York Stock Exchange (the “NYSE”) indicating that the Company is not in compliance with Section 802.01E of the NYSE Listed Company Manual as a result of the Company's failure to timely file its Annual Report on Form 10-K for the year ended December 31, 2020 (the "Form 10-K"). The NYSE informed the Company that under the NYSE's rules, the Company will have six months f

Granite Received NYSE Notice

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite Joint Venture Awarded $42 Million Air Force Base Improvement Project in Guam

Granite Joint Venture Awarded $42 Million Air Force Base Improvement Project in Guam

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today that it has been awarded the Lower Olentangy Tunnel project by the City of Columbus in Columbus, Ohio. The $267 million contract is anticipated to be booked in Granite's first quarter 2021 backlog. The Lower Olentangy Tunnel (LOT) project aims to improve water quality and reduce the risk of exposure of humans to waterborne pollutants by reducing overflows from the sewer system into creeks and rivers during flooding. LOT wi

Granite Awarded $267 Million Tunnel Project in Ohio

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite is the recipient of three Diamond Paving Commendations, seven 2020 Diamond Achievement Commendations, 27 Diamond Achievement Sustainable Commendations, and 31 Diamond Quality Commendations from the National Asphalt Pavement Association (NAPA). All commendations are part of the Diamond Commendation Program, a nationally recognized program that outlines best practices for asphalt plant operations, asphalt production, paving, and asphalt terminal opera

Granite Receives 68 Diamond Commendations From NAPA

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded 32 quality in construction awards for excellence in construction of an asphalt pavement by the National Asphalt Pavement Association (NAPA). The awards were presented at the association's virtual 66th annual meeting. Granite was recognized for their work on following projects: 2020 Pavement Maintenance Overlay, Everett 8749-2019 Local Streets Resurfacing (South) AMATS: Post Rd 3rd Ave to Reeve Blvd Pavement Preservation A

Granite Wins 32 National Awards for Quality in Asphalt Paving

Granite Construction, Inc. (GVA) Management on Q3 2020 Results - Earnings Call Transcript

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) today reported a net loss of ($153.1) million and ($3.36) per diluted share for the nine months ended September 30, 2020, compared to a net loss of ($40.8) million and ($0.87) per diluted share year-over-year. The net loss for the nine months ended September 30, 2020 included $194.4 million of transaction costs(2), amortization of debt discount, non-recurring legal and accounting investigation costs, and non-cas

Granite Reports Third Quarter 2020 Results

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) will release third quarter 2020 financial results on Thursday, February 25, 2021, before the market opens. The Company will host an investor conference call at 8:00 a.m. PT, Thursday, February 25, 2021. The Company invites investors to listen to a live audio webcast on its Investor Relations website, http://investor.graniteconstruction.com. The live call is available by calling 1-866-807-9684; international call

Granite Announces Timing of Q3 2020 Earnings Release and Investor Conference Call

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) today announced its 2019 financial results, reflecting a net loss of ($60.2) million (($1.29) per diluted share) compared to net income of $0.6 million ($0.01 per diluted share) in 2018. The results include after-tax, acquisition-related expenses for 2019 and 2018 of $33.0 million and $60.5 million, respectively. Revenue in 2019 increased $158.6 million, or 5.0%, to $3.4 billion primarily due to incremental reve

Granite Reports Fiscal Year 2019 Results

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) has been named by Forbes as one of America's Best Midsize Employers for the fifth year in a row. The ranking honors employers based on an independent survey asking how likely employees would be to recommend their employer—and other employers in their respective industries—to someone else. “To be recognized for the fifth time as one of America's Best Midsize Employers is an honor and reflection of our culture here at Granite,” said Senior

Granite Named One of America's Best Midsize Employers by Forbes for the Fifth Consecutive Year

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA), one of the largest diversified construction and construction materials companies in the United States, as well as a full-suite provider in the transportation, water infrastructure, and mineral exploration markets, is pleased to announce the opening of a new office in Mesa, Arizona to serve the Phoenix metropolitan area including Maricopa, Yavapai, and Pinal counties. The Phoenix Area office will be joining Granite's Arizona Region, headq

Granite Announces the Opening of a New Phoenix Area Office

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) announced three top executive appointments to expand profitable growth, drive innovation to transform its business, and strengthen its culture: Jigisha Desai is chief strategy officer, Lisa Curtis is chief financial officer, and Tim Gruber is senior vice president, human resources. “Granite has begun to transform its business and culture which includes reshaping our strategy to expand profitable growth and create value. With the appointme

Granite Names Executives for Strategy, Finance, and Human Resources to Lead Growth and Cultural Change

GVA stock has been rising on the Democrats gaining control, but past accounting issues should make investors question the enthusiasm. The post Why Are Investors Piling in on Granite Construction?

Why Are Investors Piling in on Granite Construction?

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WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--Granite (NYSE:GVA) has been awarded the Cosumnes Bridge Parent Package of the Construction Manager/General Contractor (CMGC) contract for the Cosumnes Bridge Replacement Project by the California Department of Transportation (Caltrans) in Sacramento County, California. This CMGC contract is the final award of a seven-part phased delivery of the overall $167 million project. This $48 million contract is anticipated to be included in Granite's first quarter 2

Granite Awarded $48 Million Construction Manager/General Contractor Bridge Contract in California

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #SafetyByChoice--The joint venture team comprised of Granite (NYSE: GVA) and Healy Tibbitts Builders, Inc. is one of five contractors selected to participate in a $750 million Waterfront Multiple Award Construction Contract (MACC) by the Naval Facilities Engineering Command, Southwest (NAVFAC SW). The indefinite delivery/indefinite quantity (IDIQ) competitive MACC is comprised of task orders ranging from $50,000 to $100 million, for two base years plus three option years th

Granite Joint Venture Team Named to $750 Million Multiple Award Construction Contract by the Naval Facilities Engineering Command, Southwest

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #GraniteCares--Granite (NYSE:GVA) announced that it has been awarded the Construction Manager at Risk (CMAR) contract for the Tucson International Airport - Airfield Enhancement Program CMAR - GMP 1 South Airfield Lighting Vault project by Tucson Airport Authority (TAA). This $5 million contract is included in Granite's third quarter 2020 backlog. CMAR is a construction delivery method where the construction manager acts as an agent of the owner in both the design and con

Granite Awarded CMAR Contract by Tucson International Airport

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #GraniteCares--Granite (NYSE:GVA) announced that the joint venture team comprised of Granite and Kraemer North America has been awarded a Construction Manager/General Contractor (CM/GC) contract by United Bridge Partners for the Bay City Bridges Project in Bay City, Michigan. CM/GC procurement involves the contractor during the design and planning phases and offers a lower risk profile for both the contractor and the owner while increasing the overall value to project sta

Granite Joint Venture Awarded $125 Million Bay City Bridges Project in Michigan

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) recently opened their Solari Aggregate Plant in Arvin, California. Solari will safely and sustainably provide aggregate and asphalt to private and public customers in the Bakersfield market. The Solari facility replaces a depleted Granite facility near Arvin. The new 700-acre plant produces 70 million tons of additional high-quality reserves available to the Bakersfield market. Designed with efficiency and sustainability in mind, automate

Granite Opens New Solari Aggregate Plant Near Bakersfield

WATSONVILLE, Calif.--(BUSINESS WIRE)---- $GVA #GraniteCares--Granite (NYSE:GVA) has been awarded Segment 4C (Summerland) of the Highway 101 Santa Barbara to Carpinteria Construction Manager/General Contractor (CM/GC) project by the California Department of Transportation (Caltrans). This is the second contract awarded to Granite of the five-segment $410 million CM/CG project. The $101 million contract is expected to be included in Granite's fourth quarter 2020 backlog. The Highway 101 Santa Barbara to Carpinteria pro

Granite Awarded $101 Million Construction Manager/General Contractor Project in Southern California

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.

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