Granite Constr Inc Stock Price, News & Analysis

Granite (NYSE: GVA) has appointed J. Timothy Romer to its Board of Directors, effective September 8, 2025. Romer brings nearly 40 years of experience in finance and infrastructure, having held senior positions at Goldman Sachs and Merrill Lynch for 30 years. He also served as a partner at Foundation Credit and held CEO/CFO roles in software and climate technology companies.

Romer will serve on both the Audit/Compliance Committee and the Risk Committee of the Board. He holds an MBA from Wharton School and a B.S. in Industrial Engineering from Stanford University.

Granite (NYSE:GVA) announced that its subsidiary, Layne, has secured a $13 million contract from Lewis and Clark Regional Water System (LCRWS) to construct two high-capacity horizontal collector wells near Vermillion, South Dakota. The wells will have a combined capacity of 50 million gallons per day (MGD) of raw water supply.

Each well will feature 16-foot inner diameter concrete caissons reaching approximately 135 feet in depth. The project follows Layne's successful 2021 construction of LCRWS's first collector well, which produces over 20 MGD. Construction is scheduled to begin in September 2025 with completion expected in June 2028.

Granite Construction (NYSE: GVA) reported strong Q2 2025 results with revenue increasing 4% year-over-year to $1.13 billion. The company's Q2 diluted EPS rose 87% to $1.42, while adjusted diluted EPS grew 12% to $1.93.

Key highlights include record Committed and Awarded Projects (CAP) reaching $6.1 billion, a sequential increase of $324 million. The company announced two strategic acquisitions: Warren Paving in the Southeast and Papich Construction in California, leading to raised 2025 guidance with revenue now expected between $4.35-4.55 billion and adjusted EBITDA margin of 11.25-12.25%.

The Materials segment showed particularly strong performance with revenue up 14.6% and gross profit increasing 54.9% year-over-year, driven by higher aggregates and asphalt volumes and improved pricing.

Granite (NYSE: GVA) has completed two strategic acquisitions for a combined $710 million, strengthening its vertically-integrated home markets. The company acquired Warren Paving, a leading aggregates producer in the Southeast, and Papich Construction, enhancing Granite's position in California.

The acquisitions are expected to contribute $425 million in annual revenue with an 18% adjusted EBITDA margin. Warren Paving adds over 400 million tons of aggregate reserves and a fleet of 168 barges, while Papich Construction brings infrastructure expertise and multiple quarries and asphalt plants.

The transactions were financed through a $600 million term loan, $100 million cash, and $10 million from an upsized revolver, maintaining a pro forma net leverage ratio below the 2.5x target.

Granite (NYSE:GVA) has secured two work packages totaling $230 million under a Construction Manager at Risk (CMAR) contract for the Garnet Valley Wastewater System project in Las Vegas. The project, awarded by the Southern Nevada Water Authority (SNWA), is part of a larger $900 million infrastructure initiative at the Apex Industrial Park.

The scope includes constructing 5 miles of gravity wastewater pipeline, 11 miles of force-main, and 3 large lift stations, with integration into City of North Las Vegas treatment facilities. Construction began in June 2025 with completion expected by December 2027. The project aims to enhance water sustainability by treating and recycling wastewater, returning it to Lake Mead for return-flow credits.

Granite (NYSE: GVA), a construction company, has scheduled its Q2 2025 financial results release for Thursday, August 7, 2025, before market opens. The company will host an investor conference call at 8:00 a.m. PT on the same day.

Investors can access the live audio webcast through Granite's Investor Relations website at investor.graniteconstruction.com. The call is also accessible via phone at 1-877-328-5503 (US) or 1-412-317-5472 (international). A webcast archive and call replay will be available until August 14, 2025, with replay access code 6869375.

Granite (NYSE:GVA) and Obayashi Corporation's joint venture has secured a $158 million task order from NAVFAC for the construction of the Missile Defense Agency's Guam Defense System. The project, located in South Finegayan, spans 120 acres and includes extensive infrastructure development including 60,000 linear feet of underground ductbank, 110,000 cubic yards of mass earthwork, and various military facilities.

The construction, scheduled from July 2025 to July 2028, will support future missile defense infrastructure and includes autonomous power generation. The project site is positioned near Granite's ongoing work at Marine Corps Base Camp Blaz, reinforcing the company's role in developing critical defense infrastructure in the Indo-Pacific region.

Granite (NYSE:GVA) has secured a $17 million contract from the Utah Department of Transportation for a bridge replacement project in Riverdale, Utah. The project involves replacing three bridges: the 4400 South bridge over I-15 and two I-84 bridges over 4400 South, all originally built in the 1960s.

The company will employ an innovative construction approach, building the I-84 bridges adjacent to existing structures and sliding them into place during weekend closures to minimize traffic disruption. The project will utilize 1,169 tons of hot mix asphalt from Granite's West Haven Hot Plant. Construction is scheduled to begin in July 2025 with completion expected by October 2026.

Granite (NYSE:GVA) has secured a $111 million contract from the Utah Department of Transportation for a major infrastructure project in Salt Lake City. The project involves rehabilitating 3 miles of I-215 and 12 miles of ramps connecting SR-201, I-80, and California Avenue, along with renovating 22 bridges.

The comprehensive project includes rubblizing existing concrete pavement, installing 175,000 tons of modified hot mix asphalt, performing bridge deck replacements, and installing 22,000 linear feet of storm drain. Construction is scheduled to begin in August 2025 and complete in November 2026.