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) 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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