Granite Constr Inc Stock Price, News & Analysis

Granite (NYSE:GVA) has secured a $14 million traffic flow improvement project in Santa Barbara, CA, awarded by Caltrans. This project, part of a larger suite, involves constructing two roundabouts aimed at enhancing traffic flow in Montecito's lower village. The project will be funded by the Regional Surface Transportation Program and is expected to be completed by December 2023. Granite's Gardner Facility will provide approximately 2,500 tons of hot mix asphalt, with all removed pavement recycled for future projects.

Granite (NYSE:GVA) President and CEO Kyle Larkin has been appointed to the Board of Directors of the National Asphalt Pavement Association (NAPA) starting in 2023. Larkin's initial meeting will be at NAPA's annual gathering in Miami, Florida in February. NAPA, founded in 1955, advocates for asphalt producers and contractors through lobbying, collaboration, and research to enhance asphalt quality. Larkin expressed his honor in joining NAPA, emphasizing the organization's pivotal role in the industry.

Granite (GVA) Executive Vice President and COO Jim Radich has been appointed to the Board of Directors of the American Road & Transportation Builders Association (ARTBA). This organization, with over 8,000 members, advocates for transportation infrastructure investment. Radich's expertise is expected to aid the industry in implementing the recent federal infrastructure package. Granite, established in 1922, is a leader in civil construction and committed to ethical standards and sustainability.

Granite (NYSE:GVA) has been awarded the 2022 ConocoPhillips Excellence in Safety Award for its Alaska Region, recognizing its commitment to construction safety. This prestigious award, given by the Associated General Contractors of Alaska, emphasizes Granite's dedication to safety, workforce training, and innovative practices. The company previously won this award in 2021, showcasing its ongoing commitment to maintaining high safety standards. Granite celebrates its centennial year as a leading diversified construction firm in the U.S., highlighting its focus on integrity and quality.

Granite (NYSE:GVA) has secured a $15 million contract from the Arizona Department of Transportation for pavement rehabilitation and bridge deck repair on Interstate 10 in Tucson, Arizona. Funded by the Federal Highway Administration and ADOT, the project spans nearly 10 miles and involves various improvements including asphalt removal, guardrail construction, and highway lighting installation. Scheduled to start in December 2022 and conclude by August 2023, this initiative continues Granite's long-standing partnership with ADOT, enhancing their operational portfolio.

Granite (NYSE:GVA) has been awarded a $170 million reconstruction project for Interstate 10 in Tucson, Arizona, by the Arizona Department of Transportation. The project is set to improve roadway capacity with four general purpose lanes and enhance safety for commuters. It combines ADOT's widening and Pima County's Sunset Road extension into one initiative, beginning in January 2023 and completing in October 2025. Granite will utilize sustainable practices, repurposing nearly all demolition materials.

Granite (NYSE:GVA) has secured a $50 million contract for the American River Bridge Rehabilitation by the California Department of Transportation. The project, part of a larger CM/GC initiative, began in June and will replace the bridge deck and widen the structure, completing by December 2025. Two prior child contracts worth $20 million were executed for preliminary works. This project aims to enhance transportation infrastructure and includes a bike path for multimodal connectivity.

Granite (NYSE:GVA) has secured a $30 million contract for Design-Build improvements at East Tongue Point, Astoria, Oregon, funded by the Department of Homeland Security. The project aims to support the Homeporting of two Coast Guard Fast Response Cutters, enhancing local maritime operations. Key features include a fixed pier, floating docks, utilities, and security enhancements, with completion expected by June 2025. This marks Granite’s fourth win under the National Multiple Award Construction Contract, reinforcing its strategic relationship with DHS and the U.S. Coast Guard.

Granite Construction Incorporated (NYSE: GVA) will present at the Baird 2022 Global Industrial Conference in Chicago, Illinois, on November 10, 2022, at 8:30 AM Central Time. CEO Kyle Larkin will meet with investors following the presentation. Presentation slides will be available on the Company's Investor Relations website at 8:00 AM Central Time on the same day. Granite, founded in 1922, is a leading diversified construction firm in the U.S., recognized for its strong ethical standards and commitment to safety, quality, and sustainability.