Granite Constr Inc Stock Price, News & Analysis

Granite (NYSE:GVA) has secured a $54 million federal contract for the first phase of a Parks Highway realignment project in Alaska. The project, awarded by the Alaska Department of Transportation and Public Facilities, involves realigning the highway from milepost 319 to 322 to enhance traffic safety by reducing sharp corners. The scope includes 2.5 million cubic yards of earthwork and 25,000 tons of asphalt paving.

The project utilizes a Construction Manager/General Contractor (CMGC) approach, with an estimated $35 million value for the remaining segment. Construction began May 1, 2025, with completion expected by September 2027. The project team includes DOT&PF, Michael Baker International as designer, and Granite, collaborating to optimize design and execution.

Granite (NYSE:GVA) announced that Executive Vice President and Chief Operating Officer (COO) James A. "Jim" Radich will retire on July 4, 2025. Following his retirement, Granite will restructure its reporting lines, with Senior Vice Presidents of Construction and Materials reporting directly to President and CEO Kyle Larkin instead of appointing a new COO.

Radich, who initially joined Granite in 1980, has held various leadership roles including project manager, chief estimator, vice president, regional manager, and senior vice president. His experience spans multiple construction sectors across different geographical regions. Between 1993 and 2011, Radich worked outside of Granite before returning to the company. He holds a BS in civil engineering from Santa Clara University and is a registered civil engineer in California.

Granite (NYSE:GVA) has released its 2024 Sustainability Report, showcasing the company's commitment to creating lasting value through social responsibility, environmental stewardship, and governance. CEO Kyle Larkin emphasized sustainability as central to their mission of providing infrastructure solutions for resilient communities.

Key achievements include:

• Recognition by Newsweek as one of America's Most Responsible Companies for 2025
• Record-breaking safety performance in company history
• $28 million investment in energy efficiency for materials facilities
• 25 asphalt plants received Diamond Achievement Sustainable Commendations from NAPA

The report introduces Granite's refreshed Sustainability Strategic Plan, focusing on leveraging sustainability as a competitive advantage. Sustainability Director Raven Adams highlighted the "Sustainability Value Add" theme, emphasizing value creation for stakeholders through shared sustainability goals.

Granite (NYSE:GVA) has secured a $38 million contract from Caltrans to upgrade the Cactus City Rest Area near Coachella, California. The project encompasses both eastbound and westbound segments and will be funded through state and federal sources.

Key project components include:

• Demolition of existing structures
• New drainage installation
• Ramp and parking lot paving
• Construction of new facilities

The company's Desert Cities Asphalt Plant will supply 21,000 tons of hot mix asphalt for the project. Located just 20 miles from Granite's regional office and asphalt plant, this initiative serves as an anchor job for the Coachella Valley market. Construction is scheduled to begin in July 2025 and conclude in September 2026.

This project aligns with Granite's strategy of expanding their rest area improvement portfolio, following their work on the John Wilkie Rest Area on Interstate 40. The upgrades aim to enhance travel safety by providing clean and safe spaces for travelers.