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 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 (NYSE:GVA) announced today that it has been awarded an approximately $11 million construction contract by the California Department of Transportation (Caltrans) to construct a new bikeway and multipurpose path near Carpinteria, California. The award is anticipated to be included in Granite's fourth quarter CAP. The new Class I bikeway and multipurpose path will connect Santa Claus Lane to Carpinteria Avenue, closing a gap in the California Coastal T

Granite Secures $11 Million Santa Claus Lane Bikeway Project

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today that it has joined the US Green Building Council (USGBC), a membership based non-profit with the mission “to transform the way buildings and communities are designed, built, and operated, enabling an environmentally and socially responsible, healthy, and prosperous environment that improves the quality of life.” Granite's work aligns with that mission by creating value for shareholders by satisfying society's need for mobi

Granite Joins the US Green Building Council

H.B. Fuller

ST. PAUL, Minn.--(BUSINESS WIRE)--Celeste Mastin will succeed Jim Owens as H.B. Fuller's President and Chief Executive Officer, effective December 4, 2022.

Celeste Mastin Appointed H.B. Fuller President and CEO, Succeeding Jim Owens Upon His Retirement

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) is ranked number one in both the Highways and Sanitary & Storm Sewers markets and number two in the Mining market in the 2022 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. “We are pleased to be recognized by ENR as the number one Highways and Sanitary & St

ENR Ranks Granite Number One in both Highways and Sanitary & Storm Sewers and Number Two in the Mining Market

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #BuildingBetterTogether--Granite (NYSE:GVA) announced today that is has been awarded two construction contracts worth approximately $107 million on State Highway 288 near Houston, Texas. When combined with the previously announced $40 million contract on a different segment of SH 288, the additional segments give Granite more than $145 million of work on SH 288. The contracts were awarded and will be funded by the Texas Department of Transportation. They are anticipated to be inclu

Keeping Lone-Star Travelers Moving: Granite Secures Highway Work in Texas

Granite Construction Inc. GVA, -1.10% said Monday it no longer plans to sell its Water Resources and Mineral Services businesses, citing current market conditions. The construction materials company said the businesses' assets will no longer be classified as held for sale, and the financial results will be reporting within continuing operations.

Granite Construction will no longer sell water resources, mineral services businesses, citing 'market conditions'

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) today announced its decision to retain the Water Resources and Mineral Services businesses that were previously classified as held for sale and reported in discontinued operations. The financial results for these businesses will be reported within continuing operations, and their assets and liabilities will no longer be classified as held for sale. A Form 8-K with segment information for each of the previously r

Granite Announces Change in Divestiture Plans

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today that it has been awarded an approximately $17 million construction contract by the Placer County Water Agency (PCWA) for updates and improvements at the Duncan Creek Diversion Dam near Foresthill, California. The dam is one of the hundreds of older, small dams in Northern California's Sierra Nevada Mountains. Many of them will require major modifications in the near future in order to bring them up to modern standards. Thr

Granite Secures $17 Million Duncan Creek Diversion Dam Improvement Project

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today that it has been awarded an approximately $20 million dollar construction contract by the Tucson Airport Authority (TAA) to reconstruct an outboard taxiway (Taxiway C) at the Tucson International Airport (TUS), in Tucson, Arizona, as part of the TAA's estimated $400 million, multi-year Airfield Safety Enhancement Program. This will be the second work package awarded as part of the previously announced $130 million multi-ye

Granite Secures $20 Million Project with the Tucson Airport Authority for the Airfield Safety Enhancement Program

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #BuildingBetterTogether--Granite (NYSE:GVA) announced today that it is now the sole California distributer of EZ STREET® Asphalt, a premium, cold asphalt. EZ STREET represents the next generation of innovation in ambient asphalt technology and has the potential to reduce carbon emissions. Granite also distributes EZ STREET in Arizona, Nevada, and Utah. EZ STREET is a polymer modified cold asphalt guaranteed to permanently repair potholes, utility cuts, overlays and edge repairs in

Granite Announced as Sole California Distributor of EZ STREET Asphalt

We are at the starting line of a huge flood of Federal infrastructure spending that will last about 8 years. The US has underinvested in infrastructure for almost a couple of decades now.

Catalyst: Granite Construction And $550 Billion In Infrastructure Spending

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #BuildingBetterTogether--Granite (NYSE:GVA) has joined The Road Forward, an initiative of the National Asphalt Pavement Association (NAPA) to achieve net zero carbon emission asphalt pavements by 2050. The move is the latest Granite has taken to demonstrate its commitment to social responsibility, environmental stewardship, dependable governance, and enduring value in pursuit of sustainability. “Granite is living its value of sustainability, setting an example for other companies,

Granite Joins Asphalt Pavement Net Zero Initiative “The Road Forward”

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #BuildingBetterTogether--Granite (NYSE:GVA) announced today that it has been awarded an approximately $12 million dollar construction contract for various improvement projects at the historic WeatherTech Raceway Laguna Seca in Monterey, California. The classic track, constructed in 1957, has hosted numerous car and motorcycle racing championships, cycling events, antique car gatherings, concerts, and more. The contract was awarded and will be funded by the County of Monterey. The a

Welcome Race Fans: Granite Gets Top Spot for Contract at Iconic WeatherTech Raceway Laguna Seca

Granite Construction Incorporated (NYSE:GVA ) Q2 2022 Earnings Conference Call July 28, 2022 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 Russo - Sidoti Adam Beavis - Goldman Sachs John Ramirez - D.A. Davidson Operator Good morning.

Granite Construction Incorporated's (GVA) CEO Kyle Larkin on Q2 2022 Results - Earnings Call Transcript

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite Construction Incorporated (NYSE: GVA) today announced results for the quarter ended June 30, 2022. Second Quarter 2022 Results Net loss from continuing operations totaled $(2) million, or $(0.05) per diluted share, compared to net income from continuing operations of $25 million, or $0.52 per diluted share, in the same period in the prior year. Adjusted net income from continuing operations (2) totaled $17 million, or $0.38 per diluted share, compar

Granite Reports Second Quarter 2022 Results

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #BuildingBetterTogether--Granite (NYSE:GVA) announced today that it has been awarded an approximately $40 million dollar contract for improvements to State Highway 288 in the Houston Metro Area. The project will increase connectivity on the south side of the Houston metro area and improve access to the Texas Medical Center. The contract was awarded by and will be funded by the TxDOT. The award is anticipated to be included in Granite's third quarter CAP. This contract is the first

Granite Secures $40 Million Project on State Highway 288 Including New Overpass in Houston, Texas

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #BuildingBetterTogether--Granite (NYSE:GVA) announced that it has secured the approximately $55 million Knik-Goose Bay Road Reconstruction Phase 1 project near Wasilla, Alaska. The contract was awarded by Alaska Department of Transportation and Public Facilities (DOT&PF) Central Region and will be funded by the federal government. The project will reduce congestion and increase safety along the corridor. The award is anticipated to be included in Granite's second quarter CAP. T

Granite Selected for $55 Million in Improvements to Major Alaskan Roadway

WATSONVILLE, Calif.--(BUSINESS WIRE)-- #BuildingBetterTogether--On June 14th, Granite (NYSE:GVA), was announced as a winner of Handshake's Early Talent Awards (ETA). This annual award program recognizes employers for best-in-class talent engagement and celebrates the top workplaces that attract Gen Z. This is Granite's second ETA recognition in as many years. The award is based on the following criteria: brand resonance with Gen Z, engagement (unique clicks per distinct message recipient), event participation (career fa

Granite Wins Recognition for Early Talent Engagement

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today the award of two contracts for work on Interstate 5 near Three Rocks, California. The first, an approximately $27 million contract, will rehabilitate pavement and construct culvert improvements on I-5. The second, an approximately $11 million contract, will replace two bridge structures over Tumey Gulch on I-5. The awards are anticipated to be included in Granite's second quarter CAP. For the first contract, project scope

Granite Wins $38 Million Pair of Contracts for I-5 Rehabilitation and Improvements

WATSONVILLE, Calif.--(BUSINESS WIRE)--Centennial Asphalt Company, a wholly owned subsidiary of Granite Construction Incorporated (NYSE:GVA), has completed the purchase of a liquid asphalt terminal. The facility, located in Bakersfield, California, provides 170,000 barrels of liquid asphalt storage. “Centennial Asphalt will support customers across California,” said Brad Estes, vice president of construction materials. “This liquid asphalt terminal will enhance our Home Market Strategy by expand

Centennial Asphalt Company Acquires Liquid Asphalt Terminal in Bakersfield

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today that it has received the approximately $13 million contract for the Richardson Highway MP 40-51 Resurfacing project. Located between Valdez, Alaska and Glennallen, Alaska, the project was awarded by Alaska Department of Transportation and Public Facilities (DOT&PF) Northern Region and will be funded by the federal government. The award is anticipated to be included in Granite's second quarter CAP. The main scope of wor

Granite's Alaska Region to Execute Richardson Highway Resurfacing Project

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today that it has been awarded the approximately $15 million contract for restoration work on Calabazas Creek near Cupertino, California. Awarded by the Santa Clara Valley Water District, this project will enhance flood control along the creek. The award is anticipated to be included in Granite's second quarter CAP. The purpose of the project is to repair a number of earthen channel failures along 4500 linear feet of streambed t

Granite to Restore Calabazas Creek Near Cupertino

WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced today that it has acquired and will start development on a new aggregate operation near Grantsville, Utah. Located approximately 30 miles west of Salt Lake City on Interstate 80, the site covers approximately 640 acres. The material comes from an alluvial deposit containing 99 million tons of recoverable rock. “We are pleased to be moving forward with the Grantsville facility,” said Brad Estes, vice president of construction mat

Granite to Develop New Aggregate Operation in Grantsville, Utah

RENO, Nev.--(BUSINESS WIRE)--The Nevada Mining Association (NVMA) is kicking off its seventh annual Hope for Heat campaign on Memorial Day giving Nevadans a reason to quite literally ‘hope for heat' through Labor Day. Beginning Monday, May 30 (Memorial Day) and running through Monday, September 5 (Labor Day), the NVMA will make $90 contributions each day temperatures hit 90 degrees in Reno and Elko. The heat will be on in Southern Nevada as well, with a $100 donation every day the Las Vegas hea

Nevada Mining Association Launches 7th Annual ‘Hope for Heat' Campaign Benefiting Boys & Girls Clubs Statewide

Funding from the Infrastructure Investment & Jobs Act (IIJA) should strengthen Committed & Awarded projects in 2023 and beyond. The new strategic plan should help transform the company and put it back on a growth path.

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