Granite Construction Inc. reports news on its U.S. civil infrastructure construction business and construction materials operations. Company updates commonly cover quarterly results, Committed and Awarded Projects, project awards for highways, bridges, tactical infrastructure, transit corridors and roadway rehabilitation, and the use of aggregates, asphalt and other materials within its vertically integrated platform.
Granite news also includes capital allocation and corporate development items, including quarterly dividends and completed acquisitions that expand regional construction and materials markets. The company, incorporated since 1922, serves public and private infrastructure customers and reports developments tied to project selection, public-market funding, materials production, and geographic expansion.
Granite (NYSE: GVA) has won a $51.5 million contract from the Southern California Regional Rail Authority for rail siding projects. The SCORE program work will construct two sidings, one near downtown Los Angeles and another in Rancho Cucamonga, to increase rail capacity. Construction is expected to begin in January 2027 and finish in July 2028. The improvements are designed to support regional transportation demand and mobility needs associated with the 2028 Olympic and Paralympic Games.
Granite (NYSE:GVA) has been awarded an approximately $52 million airport construction contract by the Tucson Airport Authority at Tucson International Airport.
The Construction Manager at Risk contract covers CMAR2, the final project in the airport's more than $400 million Airfield Safety Enhancement Program. It was included in Granite's third-quarter 2026 CAP. Work includes modifying taxiways and relocating and upgrading Federal Aviation Administration navigational aids. Granite's Swan Facility will supply more than 80,000 tons of aggregate and approximately 50,000 tons of asphalt. Preconstruction began in September 2026; the company anticipates overall completion in 2029.
Granite (NYSE: GVA) reported third-quarter revenue growth of 23% year over year and introduced financial targets for 2029. Revenue reached $1.8 billion, while net income fell to $3 million from $103 million and diluted earnings fell to $0.07 from $1.98. Results included $162 million of net non-operating charges associated with convertible-note settlements. Adjusted net income, a non-GAAP measure, rose to $173 million from $124 million.
Nine-month operating cash flow increased to $404 million from $290 million. Committed and Awarded Projects, representing expected future project revenue, reached $7.5 billion. Granite raised the lower end of its 2026 revenue guidance to $5.4 billion from $5.3 billion, retaining the $5.5 billion upper end. Its 2029 targets include 10%–12% annual compound organic revenue growth and a 14%–16% adjusted operating earnings margin before interest, taxes, depreciation and amortization.
Granite (GVA) has won an approximately $16 million contract from the City of Woodinville, Washington, for road widening and trestle replacement. The SR 202 Widening and Trestle Replacement Project—Phase B will be included in Granite's fourth-quarter 2026 CAP.
The work will widen SR 202/131st Avenue NE from five lanes to eight between NE 177th Street and NE 175th Street and replace the railroad trestle with a pedestrian bridge. Granite's Smith Island asphalt plant and Granite Falls aggregate facility will supply materials. Work will begin in the fourth quarter of 2026, with completion anticipated in the fourth quarter of 2027.
Granite (NYSE:GVA) has won an approximately $11 million contract from the U.S. Army Corps of Engineers for an aircraft arresting system.
The project at Homestead Air Reserve Base in Homestead, Florida, covers construction and installation of a BAK-12/14 system, an emergency stopping mechanism for aircraft, along with runway striping. The award will be included in Granite’s third quarter 2026 CAP. Construction is expected to be completed in fourth quarter 2027. Granite said the project combines its Federal Division’s expertise with its Florida regional team’s resources as part of its effort to grow its Federal business.
Granite (NYSE: GVA) will release its quarterly financial results before the market opens on October 29, 2026.
The results cover the quarter ended September 30, 2026. An earnings presentation will be available on its Investor Relations website at the same time. Granite will host an investor conference call at 8:00 a.m. PT that day, with a live webcast and an archive available approximately one hour after the call.
Granite (GVA) announced that its joint venture with Super Excavators won an approximately $324.8 million contract for Cleveland’s Big Creek Tunnel.
The Northeast Ohio Regional Sewer District awarded the project, the last of seven large-diameter combined sewer overflow storage tunnels under Project Clean Lake. Granite’s work includes 22,300 linear feet of 20-foot-diameter tunnel, 3,115 linear feet of ancillary tunnels and associated structures. Construction is scheduled to begin in fall 2026, with completion expected in winter 2030. Granite expects the completed project to eliminate 550 million gallons of combined sewer releases annually.
Granite (NYSE:GVA) announced that its GO3JV joint venture won an approximately $165 million task order for Guam Defense System infrastructure.
The award falls under the Guam Multiple Award Construction Contract and covers Forward Operating Sites for the Naval Facilities Engineering Systems Command (NAVFAC). It will be included in third-quarter CAP. Work includes site preparation, utility installation, facility construction, transportation improvements and related infrastructure. Construction is anticipated to begin in 2026, with completion expected in late 2029.
Granite (GVA) has joined Plug and Play's Real Estate & Construction program in Silicon Valley to advance technology-driven infrastructure innovation.
Through Plug and Play's global innovation platform, Granite will work with startups, industry leaders, and entrepreneurs to identify solutions that improve how infrastructure is planned, built, and maintained. The company aims to leverage emerging technologies to enhance project delivery, boost operational performance, and create long-term value for customers and communities.
Granite (GVA) declared a quarterly cash dividend of $0.13 per common share.
The dividend will be paid on October 15, 2026 to shareholders of record as of the close of business on September 30, 2026.