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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Q3 revenue increased 14% year-over-year to $1.3 billion Q3 diluted EPS of $1.57 and adjusted diluted EPS (1) of $2.05, compared to $1.13 and $1.72 in the prior year, respectively Record Committed and Awarded Projects ("CAP") (2) of $5.6 billion, a sequential increase of $44 million Year-to-date operating cash flow increased $249 million year-over-year Expanded southeast home market with acquisition of Dickerson & Bowen, Inc. Granite Construction Incorporated (NYSE:GVA) today announced results for the quarter ended September 30, 2024. Third Quarter 2024 Results Net income attributable to Granite Construction Incorporated totaled $79 million, or $1.57 per diluted share, compared
Granite Construction Incorporated (NYSE:GVA) will release financial results for the quarter ended September 30, 2024, before market opens on Thursday, October 31, 2024. The Company will host an investor conference call at 8:00 a.m. PT, Thursday, October 31, 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 ava
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
Granite (NYSE:GVA) announced that it has been awarded the civil scope of work for Phase 1 of the Mosaic Quarter project, an approximately $27 million subcontract for general contractor Hensel Phelps. Mosaic Quarter is a sports and entertainment-focused lifestyle center, serving as a destination point for residents and visitors. It features state-of-the-art venues for entertainment, recreational and collegiate sports, including ice hockey, basketball, soccer, and much more. The project is situated near South Kino Parkway and I-10 in Tucson, Arizona and is being developed, funded, and operated by Mosaic Quarter Development. The award is included in Granite's fourth-quarter CAP. This keyston
Q3 revenue increased 14% year-over-year to $1.3 billion Q3 diluted EPS of $1.57 and adjusted diluted EPS (1) of $2.05, compared to $1.13 and $1.72 in the prior year, respectively Record Committed and Awarded Projects ("CAP") (2) of $5.6 billion, a sequential increase of $44 million Year-to-date operating cash flow increased $249 million year-over-year Expanded southeast home market with acquisition of Dickerson & Bowen, Inc. Granite Construction Incorporated (NYSE:GVA) today announced results for the quarter ended September 30, 2024. Third Quarter 2024 Results Net income attributable to Granite Construction Incorporated totaled $79 million, or $1.57 per diluted share, compared
Granite (NYSE:GVA) announced an approximately $42 million design-build contract by Naval Facilities Engineering Systems Command (NAVFAC) for a sitework and infrastructure project related to the Relay Ground Station-Asia (RGS-A) program at Naval Base Guam. Project funding is to come from federal sources and was included in Granite's third-quarter backlog. The project scope involves constructing four structures, multiple concrete foundations, and radar dome structures in support of the governments RGS-A program for the US space force. The RGS-A program is part of the U.S. Space Force's mission to update existing missile warning and missile defense systems with the Future Operationally Resili
Granite (NYSE:GVA) continues to expand its home market strategy in the Southeast through various projects, leveraging its recent acquisitions of Lehman-Roberts, Memphis Stone & Gravel (MSG), and Dickerson & Bowen Inc. (D&B). The following projects demonstrate versatility in the construction and materials industry in the region: Olive Branch Airport taxiway rehabilitation, Mississippi: Lehman-Roberts was recently awarded this project which consists of repairing and improving the existing asphalt pavement on a portion of the taxiway. They are calling it a "rehabilitation" of the taxiway, which consists of approximately 2,750 tons of hot mix asphalt (HMA). The estimated completion date is A
Granite (NYSE:GVA) has been awarded an approximately $21 million contract by the California Department of Transportation (Caltrans) to rehabilitate three miles of pavement on both the northbound and southbound lanes of State Route 99 (SR 99) through Tulare, California. Project funding is to come from federal sources and was included in Granite's third-quarter CAP. The existing pavement will be removed using cold planing and replaced with 56,300 tons of hot mix asphalt (HMA), followed by a cap of 7,200 tons of rubberized hot mix asphalt (RHMA). In addition to the mainline, thirteen ramps along the corridor will also be repaved. At ten locations, existing concrete pavement at under crossings
Granite (NYSE:GVA) has been awarded an approximately $27 million contract by the City of Bakersfield to enhance the connectivity and efficiency of the State Route 58/State Route 99 (SR 58/SR 99) interchange in Bakersfield. Project funding is to come from the City of Bakersfield and the Thomas Roads Improvement Program (TRIP) and was included in Granite's third-quarter CAP. The project includes the widening the bridge over SR 99, which will be added to the existing east bound SR 58 bridge. A new bridge will also be built spanning Wible Road, connecting directly to north bound SR 99. Key components of the project include: Four retaining walls 2,830 cubic yards of continuously reinforced
Granite Construction Incorporated (NYSE:GVA) will release financial results for the quarter ended September 30, 2024, before market opens on Thursday, October 31, 2024. The Company will host an investor conference call at 8:00 a.m. PT, Thursday, October 31, 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 ava
Granite (NYSE:GVA) announced the commencement of the approximately $45 million Atlantic Base Refurbishment (ABR) project in Seattle, Washington. This comprehensive initiative aims to modernize and enhance the infrastructure of King County Metro's (KCM) six-acre trolley bus parking and maintenance facility. "The General Contractor/Construction Manager (GC/CM) project delivery method chosen by KCM has facilitated a collaborative environment, enabling all project stakeholders to work together effectively," said Mike Stein, Granite Vice President of Regional Operations. "This partnership has successfully reached the Maximum Allowable Construction Cost (MACC) milestone, marking the transition f
Granite (NYSE:GVA) has announced the signing of a $34 million contract to implement seismic improvements to the Oakland International Airport (OAK) Perimeter Dike. This critical infrastructure project is designed to protect the airport runway from water intrusion from the adjacent San Francisco Bay. Project funding comes in part from the Federal Aviation Administration (FAA) and will be included in Granite's third-quarter CAP. The primary objective of this project is to enhance the seismic resilience of 4,200 LF of the OAK perimeter dike by utilizing a cement deep soil mixing construction solution (CDSM). This technique will strengthen the levee wall soils and mitigate the risk of dike fai
Granite (NYSE:GVA) announced today that it has received six awards, including the Bronze Louis Griesemer Sterling Safety Award for large companies, from the National Stone, Sand & Gravel Association (NSSGA). These honors were presented at the NSSGA Legislative & Policy Forum in Washington DC on September 27, 2024. The Louis Griesemer Sterling Safety Award highlights the commitment of NSSGA member companies to prioritize employee safety and well-being. These awards recognize companies with the lowest total accident incidence rate for the previous year within their respective size categories. Granite received the Louis Griesemer Sterling Safety Bronze Award in the large company category, sh
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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
DA Davidson upgraded Granite Constr from Neutral to Buy and set a new price target of $55.00 from $35.00 previously
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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