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)--Granite Construction Incorporated (NYSE: GVA) (“Granite”) today announced that it has closed its offering of $373.75 million aggregate principal amount of 3.75% Convertible Senior Notes due 2028 (the “Convertible Notes”) for gross proceeds of $373.75 million. The proceeds include the full exercise of the option by the initial purchasers to purchase an additional $48.75 million aggregate principal amount of the Convertible Notes granted by Granite to the ini.

Granite Construction Incorporated Announces Closing of $325 Million of Convertible Senior Notes due 2028 and Full Exercise of Initial Purchasers' Option to Purchase Additional $48.75 Million of the Convertible Senior Notes

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded the preconstruction contract for Parks Highway MP 319-325, the estimated value for construction is $65 million. The project will be in collaboration with Alaska DOT & PF and its designer, Michael Baker International, to optimize the design, minimize right-of-way acquisition, improve constructability, and identify efficiency opportunities during this highway's reconstruction. The Parks Highway is a critical route that.

Granite Construction Awarded Preconstruction Contract for Parks Hwy MP 319-325 in Alaska

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been selected by the Nevada Department of Transportation (NDOT) to reconstruct a section of highway in Sparks, Nevada. The project, valued at approximately $58 million, is an extension of the company's award-winning Pyramid and McCarran Intersection Improvement Project, completed in 2017. Funding will come from the Federal Highway Administration (FHWA) and was included in Granite's first-quarter CAP. The Pyramid Highway expansion will.

Pyramid Highway Project Nets Granite an Approximately $58 Million Contract

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded an approximately $173 million contract by the U.S. Army Corps of Engineers (USACE), Sacramento District, to construct various elements along the Sacramento River in California. Project funding will come from the Emergency Supplemental Appropriations in the Bipartisan Budget Act of 2018 and other sources and will be included in Granite's second-quarter CAP. The project is designed to reduce regional flood risk along the Sa.

Granite Awarded an Approximately $173 Million Weir Widening Contract

Granite Construction (GVA) is a Zacks Rank #5 (Strong Sell) has seen earnings estimates slide lower recently.  I wanted to flag this com[any as we are seeing most stocks with decreases in this year also seeing decreases in estimates for next year.

Bear Of The Day: Granite Construction (GVA)

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) (“Granite”) today announced that it intends to offer, subject to market and other conditions, $325 million in aggregate principal amount of convertible senior notes due 2028 (the “Convertible Notes”). In connection with the offering of the Convertible Notes, Granite expects to grant the initial purchasers of the Convertible Notes an option to purchase up to an additional $48.75 million aggregate principal amount.

Granite Construction Incorporated Announces Proposed Offering of $325 Million of Convertible Senior Notes due 2028

Revenue should benefit from healthy CAP and favorable end-market demand. Margin should benefit from high-margin CAP, ORP completion, and volume leverage.

Granite Construction: Recent Correction Is A Buying Opportunity

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA), has been recognized by VETS Indexes as a 3-Star Employer in the 2023 VETS Indexes Employer Awards. The award recognizes the organization's commitment to recruiting, hiring, retaining, developing, and supporting veterans and the military-connected community. “Granite has demonstrated a commitment to recruiting veteran and military-connected employees, and then helping them grow and develop into leaders,” said George Altman, managing direc.

Granite Construction Honored as a 2023 VETS Indexes 3-Star Employer

Granite Construction Incorporated (NYSE:GVA ) Q1 2023 Earnings Conference Call May 2, 2023 11:00 AM ET Company Participants Mike Barker – Vice President-Investor Relations Kyle Larkin – President and Chief Executive Officer Conference Call Participants Steven Ramsey – Thompson Research Group Brent Thielman – D.A. Davidson Brian Russo – Sidoti Michael Dudas – Vertical Research Partners Jerry Revich – Goldman Sachs Operator Good morning.

Granite Construction Incorporated (GVA) Q1 2023 Earnings Call Transcript

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite's (NYSE:GVA) Alaska Region team was awarded the Governor's Safety Award of Excellence by the Alaska Safety Advisory Council for their exceptional safety performance in 2022. Granite's safety and environmental performance were closely evaluated over the last three years against other competing companies. The Governor's Safety Award of Excellence recognizes organizations that promote superior corporate citizenship by demonstrating excellence in ensuri.

Granite's Alaska Region Recognized for Safety Performance by the Alaska Safety Advisory Council

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE:GVA) today announced results for the quarter ended March 31, 2023. First Quarter 2023 Results Net loss totaled $23 million, or $(0.53) per diluted share, compared to net loss of $27 million, or $(0.58) per diluted share, for the same period in the prior year. Adjusted net loss (3) totaled $18 million or $(0.41) per diluted share, compared to adjusted net loss (3) of $12 million, or $(0.26) per diluted share, in the sa.

Granite Reports First Quarter 2023 Results

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded an approximately $99 million contract by the Texas Department of Transportation (TxDOT) to reconstruct a section of roadway in Pearland, Texas. Project funding will come from the TxDOT Unified Transportation Program and be included in Granite's second-quarter CAP. The project involves reconstructing and widening 5.5 miles of roadway on Farm-to-Market (FM) 521 from FM 2234 to State Highway 6 to convert the two-lane undivid.

Granite Awarded an Approximately $99 Million Texas Road Widening Project

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded an approximately $34 million contract by the California Department of Transportation (Caltrans) to rehabilitate a 25-mile section of the median on Interstate 40 outside of Barstow, California. The project will be funded by Caltrans and the Federal Highway Administration (FHWA) and is expected to be included in Granite's second quarter CAP. Granite's work will enhance the safety of motorists by filling in the median and fl.

Granite Selected for Approximately $34 Million Safety Enhancement Median Fill Project

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today that it has completed the acquisition of Coast Mountain Resources (2020) Ltd., a construction aggregate producer based in British Columbia, Canada on Malahat First Nation land. Coast Mountain Resources operates the Bamberton Quarry on Vancouver Island, which is strategically located on the deep water of the Saanich Inlet. Granite has been a customer of the quarry due to its high-quality aggregate and strategic proximity to.

Granite Purchases Quarry and Barge Loading Facility on Vancouver Island

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WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded an approximately $126 million contract by Naval Facilities Engineering Systems Command (NAVFAC) Pacific for the construction of buildings and infrastructure which will support the relocation of U.S. Marines to Marine Corps Base (MCB) Camp Blaz, Guam, USA. The project will be funded by NAVFAC Pacific and be included in Granite's 2023 first-quarter CAP.

Granite Awarded $126 Million Contract to Support the Relocation of United States Marines

Construction spending in the US continues to rise, particularly amongst private industries. Although the firm has had a rocky operating history, recent performance by Granite Construction has been positive.

Granite Construction: A Play On Increased Construction Spending

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been recognized with two Construction Risk Partners Build America Awards by the Associated General Contractors of America (AGC). The Build America Award honors AGC members who have completed the most impressive construction projects in the building, highway and transportation, utility infrastructure, and federal and heavy divisions.

Granite Receives Build America Awards from AGC

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded an approximately $20 million contract by the Alaska Department of Transportation (ADOT) to rehabilitate a 10-mile section of Richardson Highway north of Glennallen, AK. The project will be funded by the Federal Highway Administration (FHWA) and will be included in Granite's 2023 first-quarter CAP.

Granite Construction Furthers Richardson Highway Rehabilitation Project in Alaska

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been recognized, for the third consecutive year, with Handshake's Early Talent Award (ETA) in the Architecture, Real Estate, & Construction category. This annual award program recognizes employers for best-in-class talent engagement and celebrates the top workplaces that attract Gen Z. Granite is one of 180 winners across 16 industries.

Granite Wins Third Consecutive Early Talent Award from Handshake

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has purchased the high-quality aggregate-producing Brunswick Canyon quarry and asphalt plant in Carson City, Nevada. The acquisition supports Granite's vertically integrated business in Northern Nevada, aligning with the Nevada Region's home market strategy. Brunswick Canyon has produced aggregates in the region for over 50 years.

Brunswick Canyon Facility Bolsters Granite's Home Market Strategy

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been selected by the City of Lancaster to lead an approximately $30 million contract for various improvements to the Avenue J (Ave J) Interchange at California State Route 14 (SR 14). The project will be funded by Caltrans, the City of Lancaster, and the Los Angeles County Metropolitan Transportation Authority (LA Metro) and be included in Granite's first quarter CAP 2023.

Granite Construction Awarded Contract for Ave J Interchange Improvements in Lancaster, California

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has received 86 awards and commendations from the National Asphalt Pavement Association (NAPA), recognizing the company's plant operations, paving operations, and adherence to best practices across the following six states: Alaska, California, Nevada, Oregon, Utah, and Washington state. The awards were presented at NAPA's 68th annual meeting in Miami, Florida. The Larry H.

NAPA Recognizes Granite Construction with 86 Awards and Commendations

Granite Construction Incorporated (NYSE:GVA ) Q4 2022 Earnings Conference Call February 16, 2023 11:00 AM ET Company Participants Mike Barker - VP, IR Kyle Larkin - President and CEO Lisa Curtis - EVP and CFO Conference Call Participants Steven Ramsey - Thompson Research Group Brent Thielman - D.A. Davidson Brian Russo - Sidoti Operator Good morning.

Granite Construction Incorporated (GVA) Q4 2022 Earnings Call Transcript

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.

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