Welcome to our dedicated page for Granite Constr news (Ticker: GVA), a resource for investors and traders seeking the latest updates and insights on Granite Constr stock.
Granite Construction Inc. (NYSE: GVA), known as Granite, regularly issues news updates that reflect its role in U.S. transportation and civil infrastructure. Company announcements highlight contract awards, project milestones, financial results, certifications, and corporate actions that are relevant to investors, industry participants, and stakeholders following GVA stock.
News items show Granite’s involvement in highway expansion, bridge rehabilitation, commuter rail improvements, and airport airfield projects. Examples include a highway improvement contract on State Route 49 in Nevada County, California, bridge replacements along historic Route 66 in San Bernardino County, rehabilitation of the Lake Street Bascule Bridge in Chicago, and runway and airfield work at Tucson International Airport. These stories illustrate how Granite’s construction and materials capabilities are applied across roads, bridges, rail, and aviation infrastructure.
Granite’s news flow also covers financial and corporate developments. The company reports quarterly earnings, including segment performance for its Construction and Materials segments and changes in Committed and Awarded Projects (CAP). Releases may include updates on acquisitions, such as the purchase of Warren Paving and related entities, and financing arrangements like amendments to its credit agreement. Dividend declarations and board or executive changes are also disclosed through news and related SEC filings.
Another category of news involves certifications and compliance milestones. For example, Granite has announced achieving Cybersecurity Maturity Model Certification (CMMC) Level 2, a requirement for certain federal contractors handling Controlled Unclassified Information. This type of update signals the company’s readiness to pursue and execute federal infrastructure work that requires specific cybersecurity standards.
Investors and observers who follow Granite’s news can track how new contracts, project awards, acquisitions, and certifications contribute to the company’s project pipeline and operational profile. The GVA news page aggregates these announcements in one place, making it easier to review recent developments in Granite’s construction, materials, and corporate activities.
Granite's CFO, Lisa Curtis, has announced her retirement effective September 16, 2024. Curtis, who has been in her role since January 2021, will be succeeded by Staci Woolsey, the current Chief Accounting Officer (CAO) and Senior Vice President.
Woolsey joined Granite in June 2021 and will take over as CFO on the same date as Curtis's retirement. In her new role, Woolsey will oversee all of Granite's financial functions including corporate accounting, operational finance, tax, treasury, investor relations, internal audit, and IT.
Kyle Larkin, Granite President and CEO, praised both Curtis for her leadership over the past three years and Woolsey for her extensive industry knowledge and effectiveness as a leader.
Granite (NYSE:GVA) secured a $25 million contract to retrofit offsite infrastructure near the Ontario International Airport. The project includes constructing nine logistics buildings totaling 4,263,000 square feet. Granite will upgrade water, sewer, and drainage systems, along with other utilities and street improvements. The company aims to finish the project by August 2025.
Granite, a leading company in the construction industry, has expanded its presence in the Inland Empire, California, by opening a new office in Ontario. This strategic move highlights Granite's commitment to the region and its goal of securing more projects in the area. With a focus on enhancing local infrastructure, fostering client relationships, and contributing to the region's growth, Granite's investment in the Inland Empire is a positive step towards economic development and community support.
Granite Construction Incorporated (NYSE: GVA) reported first quarter 2024 results with a 20% year-over-year revenue increase to $672 million. Adjusted diluted EPS stood at $(0.21), while operating cash flow rose $101 million to $24 million. The company reorganized operations to align leadership with reportable segments. Despite a net loss of $31 million, revenue, gross profit, and adjusted EBITDA all saw positive growth compared to the prior year.
Granite (NYSE:GVA) published its 2023 Sustainability Report, emphasizing social responsibility, environmental stewardship, and governance. Aligned with SDGs, GRI, SASB, and TCFD, the report showcases partnerships to achieve sustainability goals. Highlights include safety milestones, emissions reduction targets, energy efficiency investments, and industry commendations.
Granite (NYSE:GVA) secured a $31 million subcontract from Skanska USA for a highway project in Bothell, WA. The project will improve I-405 with increased ETL capacity, direct access ramps, and enhanced transit connections. Granite aims to support WSDOT and Western Washington's transportation needs.
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