Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. The company operates through Transportation, Water, Specialty, and Materials segments. The Transportation segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, and marine ports. The Water segment focuses on water-related construction and water management solutions, as well as provides trenchless cured-in-place pipe and storm water rehabilitation services. The Specialty segment constructs various complex projects, including infrastructure/site development, mining, public safety, tunnel, and power projects; and undertakes bid-build, design-build, and construction management/general contractor contracts. The Materials segment focuses on production of aggregates, asphalt, and construction related materials, as well as sanitary and storm water rehabilitation products, such as cured-in-place pipe felt and fiberglass-based lining tubes. The company also engages in the construction of streets, highways, mass transit facilities, trenchless and underground utilities, well drilling, dams, and other infrastructure-related projects. In addition, it performs 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. Granite Construction Incorporated was founded in 1922 and is headquartered in Watsonville, California.
IPO Year:
Exchange: NYSE
Website: graniteconstruction.com
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Granite Construction Incorporated (NYSE:GVA) today announced that its Board of Directors has declared a quarterly cash dividend of $0.13 per common share. The dividend is payable on October 15, 2024, to all shareholders of record at the close of business on September 30, 2024. About Granite Granite is America's Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite's Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader i
Granite (NYSE:GVA) has been awarded an approximately $65 million contract by the Utah Department of Transportation (UDOT) to commence Phase 2 of the SR-30 Improvement Project in Logan, Utah. Project funding will come from UDOT and Federal funds and was included in Granite's second-quarter CAP. "This project is a strategic win for Granite as it strengthens our ongoing relationship with UDOT," said Jason Klaumann, Granite Vice President of Regional Operations. "The successful completion of Phase 1 in 2023 positioned us as the low bidder for Phase 2, ensuring our structures, pipe, and earthwork crews will remain engaged through late 2024 and most of the 2025 season. Our team is excited to con
Granite (NYSE:GVA) is proud to announce its role as Construction Manager at Risk (CMAR) of the Arlington Avenue Bridges Replacement Project, a transformative initiative aimed at replacing the two structurally deficient bridges that cross the Truckee River in the Riverwalk District of downtown Reno, Nevada. The approximately $32 million project was awarded by the Regional Transportation Commission (RTC) of Washoe County and is funded by federal and local fuel tax funds. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240903711325/en/Granite proudly announces the groundbreaking on the Arlington Avenue Bridges Replacement project in
Granite (NYSE:GVA) has been awarded an approximately $45 million contract to reconstruct and modernize the John Wilkie Safety Roadside Rest Area along the Interstate 40 (I-40) corridor by the California Department of Transportation (Caltrans). Project funding will come from Caltrans and was included in Granite's second-quarter CAP. This project marks the fifth in a series of initiatives to improve safety and infrastructure along I-40. The project scope includes constructing a modern rest area for motorists. Given the significant distance from the nearest town, this upgraded rest area will provide a safe place for travelers to rest and recover, enhancing safety along this stretch of the in
Granite (NYSE:GVA) has been awarded an approximately $38 million contract (Segment 4E South) by the California Department of Transportation (Caltrans) to add peak-hour High Occupancy Vehicle (HOV) lanes and reconstruct all elements of the existing Highway 101 through southern Santa Barbara. Project funding is to come from Caltrans and local sources and was included in Granite's second-quarter CAP. This is the sixth Highway 101 mainline segment awarded to Granite under its Construction Manager/General Contractor (CMGC) contract. The collaborative team, including Granite, Caltrans, and the Santa Barbara County Association of Governments (SBCAG), have worked together for over five years unde
Acquisition adds three sand and gravel pits and four asphalt plants to Granite's southeast home market, extending footprint to serve central and southern Mississippi. Granite Construction Incorporated (NYSE:GVA) today announced it has completed the acquisition of Dickerson & Bowen, Inc. ("D&B"), a leading regional aggregates, asphalt, and highway construction company serving central and southern Mississippi. The acquisition is a highly complementary bolt-on to the company's 2023 acquisition of Lehman-Roberts Company / Memphis Stone & Gravel (LRC / MSG), and it builds on Granite's footprint in the Southeast serving as a growth platform in the attractive Memphis metropolitan and Mississippi
Q2 revenue increased 20% year-over-year to $1.1 billion Q2 diluted EPS of $0.76 and adjusted diluted EPS (1) of $1.73 Committed and Awarded Projects ("CAP") (2) of $5.6 billion, a sequential increase of $77 million Entered into an agreement, subject to customary closing conditions, to acquire Dickerson & Bowen, Inc., a leading regional aggregates, asphalt, and highway construction company serving central and southern Mississippi Granite Construction Incorporated (NYSE:GVA) today announced results for the quarter ended June 30, 2024 and the agreement to acquire Dickerson & Bowen, Inc., subject to customary closing conditions. Second Quarter 2024 Results Net income attributab
Granite (NYSE:GVA) has been awarded an approximately $27 million contract by the California Department of Transportation (Caltrans) to widen shoulders and resurface a 19-mile stretch of State Route 33 (SR33) in Kern County, California. Project funding to come from Caltrans and was included in Granite's second-quarter CAP. Spanning 19 miles from the SR33/SR46 intersection at Blackwells Corner to just north of McKittrick, the project will enhance road safety and driving conditions for all users. The project scope includes widening the existing 2-lane road by adding 5-foot shoulders on both sides, localized asphalt repairs, and a Hot Mix Asphalt (HMA) overlay for the entire project length. T
Granite Construction Incorporated (NYSE:GVA) will release financial results for the quarter ended June 30, 2024, before market opens on Thursday, August 1, 2024. The Company will host an investor conference call at 8:00 a.m. PT, Thursday, August 1, 2024. The Company invites investors to listen to a live audio webcast of the investor conference call on its Investor Relations website, investor.graniteconstruction.com. The investor conference call will also be available by calling 1-877-328-5503; international callers may dial 1-412-317-5472. An archive of the webcast will be available on Granite's Investor Relations website approximately one hour after the call. A replay will be available a
Granite's (NYSE:GVA) Chief Diversity Officer, Jorge Quezada, has been selected to Diversity MBA's list of Top 25 Outstanding Leadership and Diversity Impact Awards. This award honors 25 pioneers, change makers, and community leaders. It recognizes and uplifts those who have distinguished themselves in the field of diversity, have been a presence on recognizable boards, or have done outstanding work in terms of giving back to their communities. They are role models who lead with honesty, integrity, drive, and innovative ideas. Moreover, they are mentors, and sponsors who help people reach their goals and/or achieve their next levels. Through motivation, compassion, and positive collabora
DA Davidson upgraded Granite Constr from Neutral to Buy and set a new price target of $55.00 from $35.00 previously
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Granite Construction Incorporated (NYSE:GVA) today announced that its Board of Directors has declared a quarterly cash dividend of $0.13 per common share. The dividend is payable on October 15, 2024, to all shareholders of record at the close of business on September 30, 2024. About Granite Granite is America's Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite's Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader i
Acquisition adds three sand and gravel pits and four asphalt plants to Granite's southeast home market, extending footprint to serve central and southern Mississippi. Granite Construction Incorporated (NYSE:GVA) today announced it has completed the acquisition of Dickerson & Bowen, Inc. ("D&B"), a leading regional aggregates, asphalt, and highway construction company serving central and southern Mississippi. The acquisition is a highly complementary bolt-on to the company's 2023 acquisition of Lehman-Roberts Company / Memphis Stone & Gravel (LRC / MSG), and it builds on Granite's footprint in the Southeast serving as a growth platform in the attractive Memphis metropolitan and Mississippi
Q2 revenue increased 20% year-over-year to $1.1 billion Q2 diluted EPS of $0.76 and adjusted diluted EPS (1) of $1.73 Committed and Awarded Projects ("CAP") (2) of $5.6 billion, a sequential increase of $77 million Entered into an agreement, subject to customary closing conditions, to acquire Dickerson & Bowen, Inc., a leading regional aggregates, asphalt, and highway construction company serving central and southern Mississippi Granite Construction Incorporated (NYSE:GVA) today announced results for the quarter ended June 30, 2024 and the agreement to acquire Dickerson & Bowen, Inc., subject to customary closing conditions. Second Quarter 2024 Results Net income attributab
Granite Construction Incorporated (NYSE:GVA) will release financial results for the quarter ended June 30, 2024, before market opens on Thursday, August 1, 2024. The Company will host an investor conference call at 8:00 a.m. PT, Thursday, August 1, 2024. The Company invites investors to listen to a live audio webcast of the investor conference call on its Investor Relations website, investor.graniteconstruction.com. The investor conference call will also be available by calling 1-877-328-5503; international callers may dial 1-412-317-5472. An archive of the webcast will be available on Granite's Investor Relations website approximately one hour after the call. A replay will be available a
Granite Construction Incorporated (NYSE:GVA) today announced that its Board of Directors has declared a quarterly cash dividend of $0.13 per common share. The dividend is payable on July 15, 2024, to all shareholders of record at the close of business on June 28, 2024. About Granite Granite is America's Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite's Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safe
Q1 revenue increased 20% year-over-year to $672 million Q1 diluted EPS of $(0.70) and adjusted diluted EPS (1) of $(0.21) Q1 operating cash flow increased $101 million year-over-year to $24 million Reorganized operations to align leadership with reportable segments Granite Construction Incorporated (NYSE:GVA) today announced results for the quarter ended March 31, 2024. First Quarter 2024 Results Net loss attributable to Granite Construction Incorporated totaled $31 million, or $(0.70) per diluted share, compared to net loss attributable to Granite Construction Incorporated of $23 million, or $(0.53) per diluted share, for the same period in the prior year. Adjusted net los
Granite Construction Incorporated (NYSE:GVA) will release financial results for the quarter ended March 31, 2024, before market opens on Thursday, May 2, 2024. The Company will host an investor conference call at 8:00 a.m. PT, Thursday, May 2, 2024. The Company invites investors to listen to a live audio webcast of the investor conference call on its Investor Relations website, investor.graniteconstruction.com. The investor conference call will also be available by calling 1-877-328-5503; international callers may dial 1-412-317-5472. An archive of the webcast will be available on Granite's Investor Relations website approximately one hour after the call. A replay will be available after
Granite Construction Incorporated (NYSE:GVA) today announced that its Board of Directors has declared a quarterly cash dividend of $0.13 per common share. The dividend is payable on April 15, 2024, to all shareholders of record at the close of business on March 28, 2024. About Granite Granite is America's Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite's Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in sa
Q4 revenue increased 18% year-over-year to $934 million Q4 diluted EPS of $0.55 and adjusted diluted EPS (1) of $0.82 Operating cash flow increased $150 million sequentially Committed and Awarded Projects ("CAP") (2) of $5.5 billion, a year-over-year increase of $1.1 billion 2024 guidance continues to align with previously provided targets Granite Construction Incorporated (NYSE:GVA) today announced results for the quarter and year ended December 31, 2023. Fourth Quarter 2023 Results Net income totaled $26 million, or $0.55 per diluted share, compared to net income of $22 million, or $0.46 per diluted share, for the same period in the prior year. Adjusted net income (1)
Granite Construction Incorporated (NYSE:GVA) will release financial results for the quarter and fiscal year ended December 31, 2023, before market opens on Thursday, February 22, 2024. The Company will host an investor conference call at 8:00 a.m. PT, Thursday, February 22, 2024. The Company invites investors to listen to a live audio webcast of the investor conference call on its Investor Relations website, investor.graniteconstruction.com. The investor conference call will also be available by calling 1-877-328-5503; international callers may dial 1-412-317-5472. An archive of the webcast will be available on Granite's Investor Relations website approximately one hour after the call. A
Granite (NYSE:GVA) announced today that District Vice President Ian Firth has been appointed to the National Asphalt Pavement Association's (NAPA) Advisory Council West Region as an at large member. NAPA is the only national trade association representing the asphalt industry and works to advance the asphalt pavement industry through leadership, training, and advocacy. This includes supporting member companies on issues including engineering, health and safety, workforce development, and more. The Advisory Council is charged with enhancing advocacy for the asphalt industry and supporting the active engagement of all the member companies. The regional structure of the council ensures repre
Acquisition expands Granite's footprint and creates a new platform for growth in the attractive greater Memphis metropolitan market Revising 2024 financial targets to reflect the acquisition Granite Construction Incorporated (NYSE:GVA) today announced the acquisition of Lehman-Roberts Company ("LRC") and Memphis Stone & Gravel Company ("MSG"), longstanding asphalt paving and asphalt and aggregates producers and suppliers. This acquisition expands Granite's footprint and creates a new growth platform for Granite in the attractive Memphis metropolitan market. LRC operates seven strategically located asphalt plants serving the greater Memphis area and northern Mississippi. MSG operates
WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite’s (NYSE:GVA) board of directors has appointed three new directors and has elected Michael F. McNally as its new board chair. Mr. McNally has served on the board since 2016. The board also promoted Kyle T. Larkin to president and chief executive officer. At the conclusion of Granite’s Annual Meeting of Shareholders held on June 2, 2021, former board chair, Claes G. Bjork, retired from the board. Louis E. Caldera, former United States Secretary of the Army, Laurie M. Mullen, retired partner at KPMG LLP, and Kyle T. Larkin have joined Granite’s board of directors, effective Thursday, June 3, 2021. These appointments and retirement will i
WATSONVILLE, Calif.--(BUSINESS WIRE)--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 appointment of these three leaders, we are taking steps to clearly define our strategic path and to capitalize on technology and innovation in the infrastructure and materials markets while making sur
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Granite (NYSE:GVA) announced Lehman-Roberts, a Granite company, has been selected as a subcontractor by Dement Construction Company, LLC on a project for the Tennessee Department of Transportation (TDOT) in the ongoing infrastructure upgrade project where Interstate 22 terminates into State Route 4 (SR 4) and U.S. Route 78 (US 78) southeast of downtown Memphis. Funded by Federal and TDOT funds, Lehman-Roberts' portion of the contract is approximately $21 million and will be included in Granite's second-quarter CAP.Phase 2, the project's current phase, involves the addition of extra lanes and overpasses spanning approximately two miles to relieve daily traffic congestion and improve overall t
Project funding comes from the City of Salinas and will be included in Granite's second-quarter CAP. The project is expected to begin in Q3 2024 and be completed in the Fall of 2025.
Granite (NYSE:GVA) has been awarded an approximately $25 million contract by the City of Everett to remove and replace the Edgewater Creek Bridge. The project will be funded by federal grants and local funds, and will be included in Granite's second-quarter CAP.Project scope includes the removal of the existing bridge, originally built in 1946, and the construction of a new bridge over the Edgewater Creek Basin. The project presents engineering challenges due to the steep and unstable soils of the ravine. To overcome these, a trestle will be constructed to facilitate access for the work.
The facility will be on a 25-acre site next to the Columbia River, reinforcing Granite's commitment to the Southwest Washington area home market.
Under this program, the north and south concourses of Terminal B at George Bush Intercontinental Airport (IAH), one of the airport's oldest terminals, will be renovated. The project is anticipated to begin in Summer 2024 and is expected to be completed in April 2026.
Granite (NYSE:GVA) has been awarded a $25 million contract by McDonald Property Group to retrofit offsite infrastructure at the east end of the runway of the Ontario International Airport. The project was included in Granite's first-quarter CAP.This retrofit will accommodate the construction of nine logistics buildings, totaling 4,263,000 square feet. Granite will be responsible for upsizing and retrofitting domestic water, sanitary sewer, and storm drainage systems. The project also includes the new construction of a reclaimed waterline, fire service lines, and dry utility systems. In addition, Granite will be reconstructing the streets, upgrading access with curb & gutter, driveways, and s
Granite (NYSE:GVA) announced the opening of its new office in Ontario, California. This strategic move marks Granite's commitment to serving the Inland Empire and further solidifying its position in the market.Located in the heart of the Inland Empire, Granite's Ontario office will serve as a hub for Granite's operations in the region. With this expansion, Granite aims to enhance its local presence, foster stronger relationships with clients, and contribute to the region's growth.Infrastructure Connection: The Inland Empire is a vital corridor connecting Moreno Valley to Los Angeles. By establishing an office here, Granite aims to enhance this critical infrastructure link, facilitating smoot
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