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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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 (GVA) partners with Veracio to improve the accuracy and quality of drill hole data analysis for its clients.

Granite (GVA), Veracio to Redefine Drill Hole Data Utilization

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today that its wholly-owned subsidiary International Directional Services (IDS) and Veracio, a mining technology company, have entered into a partnership aimed at transforming drill hole data analytics and elevating productivity for Granite's clients. The collaboration between IDS and Veracio marks a significant step toward leveraging technology to enhance the mining process. By combining IDS's drill hole geological data collect.

Granite and Veracio Aim to Revolutionize Mining Industry

Granite (GVA) expands its reach in the thriving Memphis metropolitan market with the acquisition of Lehman-Roberts Company and Memphis Stone & Gravel Company.

Granite (GVA) Buys Lehman-Roberts & Memphis Stone & Gravel

WATSONVILLE, Calif.--(BUSINESS WIRE)--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.

Granite Announces Acquisition of Lehman-Roberts Company and Memphis Stone & Gravel Company

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announces its achievement as the recipient of the ConocoPhillips Excellence in Safety Award by the Associated General Contractors (AGC) of Alaska. This accolade is awarded to organizations that exemplify and promote excellence in safety within the construction industry in Alaska. The ConocoPhillips Excellence in Safety Awards are a testament to the dedication and commitment of companies that prioritize safety as a core value. Granite stoo.

Granite's Alaska Region Wins 2023 ConocoPhillips Excellence in Safety Award through the AGC of Alaska

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) is proud to announce that its Handley Ranch Quarry has been selected as the recipient of the prestigious 2023 CalCIMA Excellence in Safety award in the Small Aggregate Mine category. The California Construction and Industrial Materials Association (CalCIMA) Excellence in Safety awards recognize outstanding achievements in promoting and maintaining a culture of safety within the mining industry. Granite has consistently demonstrated its co.

Granite's Handley Ranch Quarry Recognized for Excellence in Safety with 2023 CalCIMA Award

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Granite Construction's (GVA) joint venture is set to rehabilitate the American River Bridge in Sacramento, CA.

Granite Construction's (GVA) JV ARC Wins Multiple CM/GC Deal

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced that the American River Constructors (ARC) joint venture team comprised of Granite and California Engineering Contractors has been awarded another contract by the California Department of Transportation (Caltrans) for the American River Bridge Rehabilitation Construction Manager/General Contractor (CM/GC) project in Sacramento, California. A CM/GC Preconstruction Service contract has been underway since January 2021 and was rece.

Granite Joint Venture Continues to Win Contracts for Major Bridge Rehabilitation Project in Sacramento

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WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today that it has been awarded an approximately $12 million dollar contract by the Tucson Airport Authority (TAA) as part of the TAA's estimated $400 million, multi-year Airfield Safety Enhancement Program at Tucson International Airport (TUS). This will be the third Guaranteed Maximum Price (GMP 3) work package awarded as part of TAA's previously announced $130 million multi-year Construction Manager at Risk (CMAR) project. The.

Granite Continues Airfield Safety Enhancement Program at Tucson International Airport

Granite Construction Incorporated (NYSE:GVA ) Q3 2023 Earnings Conference Call October 31, 2023 11:00 AM ET Company Participants Mike Barker - Vice President, Investor Relations Kyle Larkin - President and Chief Executive Officer Lisa Curtis - Executive Vice President and Chief Financial Officer Conference Call Participants Brian Biros - Thompson Research Group Brent Thielman - D.A. Davidson Brian Russo - Sidoti Michael Dudas - Vertical Research Partners Operator My name is Kate and I will be your conference facilitator today.

Granite Construction Incorporated (GVA) Q3 2023 Earnings Call Transcript

Granite surpassed estimates on third-quarter earnings and revenue. The company has done a good job executing on a turnaround plan after a series of misfires.

Why Granite Construction Stock Is Soaring Higher Today

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) today announced results for the quarter ended September 30, 2023. Third Quarter 2023 Results Net income totaled $58 million, or $1.13 per diluted share, compared to net income of $69 million, or $1.36 per diluted share, for the same period in the prior year. Adjusted net income (1) totaled $75 million, or $1.69 per diluted share, compared to adjusted net income (1) of $57 million, or $1.28 per diluted share, for.

Granite Reports Third Quarter 2023 Results

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE: GVA) is pleased to announce its participation in a series of upcoming investor events where senior management will meet with investors. Management will use a presentation during meetings that will be posted to our website before market on November 10, 2023. The events are scheduled as follows: 1. 2023 NYSE Virtual Investor Access Program for Industrials • Date: Tuesday, November 14, 2023 2. UBS Industrials Summit • Date: Wednesday, November 2.

Granite Construction to Participate in Investor Conferences

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Granite (GVA) is set to widen and enhance State Route 108 (SR-108) in Davis County, Utah.

Granite (GVA) Wins $45M UDOT Contract, Fortifies Q3 CAP

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded an approximately $45 million contract by the Utah Department of Transportation (UDOT) to widen and improve State Route 108 (SR-108) in Davis County, Utah. Funded by State and Federal sources, the project will be included in Granite's third-quarter CAP. The scope of this project involves extending SR-108 from 300 N to 1800 N, transforming it from a three-lane asphalt roadway to a five-lane Portland Cement Concrete Pavement.

UDOT Selects Granite for SR-108 Widening and Improvements

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded Options W.3A, W.3B and W.4 for the Polychrome Area Improvements Construction Manager/General Contractor (CM/GC) project by the Federal Highway Administration (FHWA) in Denali National Park in Alaska. These construction options, with a combined value of $24,586,571, complete long-lead procurements, fabrication of the steel truss bridge, and construction engineering and fabrication of temporary works for a bridge launching.

Granite's CM/GC Work Continues in Denali National Park

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) is ranked number one in the Highways market and number three in the Mining market in the 2023 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. This marks the third consecutive year and five out of the last six years that Granite has achieved the #1 ranking in Highway.

ENR Ranks Granite Number One in Highways for the Third Consecutive Year

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) is proud to announce that it has been honored with six awards including the prestigious Louis Griesemer Sterling Safety large company award by The National Stone, Sand & Gravel Association (NSSGA). This esteemed recognition was conferred during the NSSGA Legislative & Policy Forum, held in Washington DC on September 25, 2023. The Louis Griesemer Sterling Safety Award is a testament to the steadfast commitment of NSSGA member compa.

Granite Wins Six Safety and Environmental Awards From NSSGA

Granite (GVA) wins the storm damage repair project by Caltrans, in the Sequoia National Forest near Kings Canyon National Park. The project's expected value is $12.5 million.

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