Granite Constr Inc Stock Price, News & Analysis

Granite (NYSE:GVA) has successfully acquired Coast Mountain Resources (2020) Ltd., a construction aggregate producer located on Malahat First Nation land in British Columbia, Canada. This acquisition includes the Bamberton Quarry, known for its high-quality aggregate and strategic location on Vancouver Island. Granite has previously been a customer of this quarry, underscoring its value. The company aims to work collaboratively with the Malahat First Nation to ensure responsible operations and community integration. This move aligns with Granite's strategic focus on reinforcing its home markets, following prior acquisition of Brunswick Canyon in Nevada, and further enhances its competitive position in the construction materials sector.

Granite Construction Incorporated (NYSE: GVA) is set to release its first quarter financial results on May 2, 2023, prior to market opening. Investors can participate in the earnings call at 8:00 a.m. PT on the same day. The call will be accessible through live webcast on the company’s Investor Relations website or via telephone. A replay will be available until May 9, 2023. Founded in 1922, Granite is a leading construction and materials company in the U.S., known for its commitment to quality, safety, and sustainability in infrastructure projects.

Granite (NYSE:GVA) has secured a $126 million contract from Naval Facilities Engineering Systems Command (NAVFAC) Pacific to construct buildings and infrastructure at Marine Corps Base Camp Blaz in Guam. This project supports the relocation of U.S. Marines from Okinawa, Japan, and includes construction of three buildings totaling over 110,000 square feet, including a warehouse, climate-controlled maintenance space, an automotive shop, and a vehicle wash rack. The project commences in April 2023 and is expected to conclude by December 2025. This diversification of Granite's Federal portfolio reflects their longstanding commitment to the Department of Defense's buildup initiative in Guam.

Granite (NYSE:GVA) received two prestigious Build America Awards from the Associated General Contractors of America for outstanding construction projects. The first award was for the Cosumnes River Bridge Replacement in Elk Grove, CA, recognized for its cost-saving innovations and early project delivery. The second award honored the I-5 & SR 11 Padden Creek Fish Passage Project in Bellingham, WA, commending its significant environmental enhancements. These awards highlight Granite's commitment to quality, sustainability, and successful partnership with state agencies and local communities.

Granite (NYSE:GVA) has secured a $20 million contract from the Alaska Department of Transportation to rehabilitate a 10-mile section of the Richardson Highway north of Glennallen, AK. Funded by the Federal Highway Administration, the project includes realignment, drainage, intersection upgrades, and guardrail installation, set to commence in May 2023 and conclude by December 2023. This initiative complements an existing Granite project in the region, optimizing resource utilization and enhancing the company's operational portfolio.

Granite Construction Incorporated (NYSE: GVA) announced a quarterly cash dividend of $0.13 per common share, payable on April 14, 2023, to shareholders of record by the close of business on March 31, 2023. This dividend highlights the company's commitment to returning value to its shareholders, reinforcing its position as a significant player in America’s construction sector. Granite continues to uphold strong ethical standards and is recognized for its leadership in safety, quality, and sustainability, with a rich history dating back to 1922. For more details, visit graniteconstruction.com.

Granite (NYSE:GVA) has acquired the Brunswick Canyon quarry and asphalt plant in Carson City, Nevada, enhancing its vertically integrated business strategy in Northern Nevada. This acquisition, which includes a 400-ton-per-hour asphalt plant, supports the company's operations in the region, particularly for communities along Hwy 50 and Hwy 395. With over 50 years of aggregate production in the area, Granite aims to improve service and create jobs. The company is a major player in construction materials across the western United States and follows a strong ethical framework in its operations.