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 (GVA) delivers essential infrastructure solutions through heavy civil construction and innovative project delivery methods. This news hub provides investors and industry professionals with direct access to the company's official announcements, financial disclosures, and operational updates.
Discover timely information on quarterly earnings, major project awards, and strategic initiatives that shape GVA's position in transportation, water infrastructure, and materials markets. Our curated collection includes regulatory filings, leadership updates, and partnership announcements critical for assessing the company's market trajectory.
Key updates cover public sector contracts, safety milestones, and sustainability efforts across Granite's nationwide operations. Bookmark this page to monitor developments in design-build projects, materials innovations, and compliance with evolving infrastructure regulations.
Granite Construction reported a net loss from continuing operations of $(2) million for Q2 2022, down from a profit of $25 million in the same quarter last year. Revenue fell by $67 million to $768 million, with a gross profit margin decrease from 11.8% to 10.2%. The company’s Committed and Awarded Projects (CAP) rose to $4.2 billion, up $279 million sequentially. Significant investments were made in construction materials and an amended credit facility was secured. Adjusted EBITDA decreased to $39 million, while cash reserves fell to $242 million, down $146 million year-over-year.
Granite (NYSE:GVA) has secured a $40 million contract for enhancements to State Highway 288 in the Houston Metro Area. This project aims to improve connectivity and access to the Texas Medical Center, funded by TxDOT. The initial phase spans 1 mile and includes a new overpass and additional lanes, benefiting commuters by reducing congestion. The project will begin in Q4 2022 and is set for completion in early 2024. This contract marks the first in a series of four planned improvements for the SH 288 corridor.
Granite Construction Incorporated (NYSE: GVA) will announce its second quarter financial results on July 28, 2022, before the market opens. An investor conference call is scheduled for 8:00 a.m. PT on the same day. Investors can access the live audio webcast on Granite's Investor Relations website, with a replay available until August 4, 2022. Granite, a leading diversified construction company in the U.S., prides itself on strong ethical standards, safety, and sustainability initiatives.
Granite (NYSE:GVA) has secured a $55 million contract for the Knik-Goose Bay Road Reconstruction Phase 1 project in Wasilla, Alaska, awarded by the Alaska Department of Transportation and Public Facilities. The federal government will fund this project aimed at reducing congestion and enhancing safety. The reconstruction will widen four miles of Knik Goose Bay Road to a four-lane divided highway, with improvements including drainage, signalization, and pathways. The project is set to commence in August 2022 and conclude in Q3 2024, contributing positively to Granite's second quarter CAP.
Granite (NYSE:GVA) received the Early Talent Award from Handshake on June 14, marking its second consecutive win. The awards recognize employers excelling in engaging Gen Z talent, assessing criteria such as brand resonance, engagement, event participation, and student-employer relationships. Jessica Somers, talent acquisition manager, emphasized the company’s commitment to nurturing early talent through learning opportunities and internships. Tim Gruber, senior vice president of human resources, highlighted their successful college recruitment programs aimed at fostering diversity and inclusion in the workforce.
Granite (NYSE:GVA) has secured two significant contracts totaling approximately
Granite Construction (NYSE:GVA) announced the acquisition of a liquid asphalt terminal in Bakersfield, California, from its subsidiary Centennial Asphalt Company. The terminal, with a capacity of 170,000 barrels, will enhance Granite's Home Market Strategy by providing greater access to high-quality polymer modified asphalt and emulsions. This strategic facility supports the expansion into sustainable products, including asphalt modified with recycled materials, leveraging its central location and flexibility in transportation options.
Granite (NYSE:GVA) has secured a $13 million contract for the Richardson Highway MP 40-51 Resurfacing project in Alaska, awarded by the Alaska Department of Transportation. The project involves 11 miles of grinding and paving, along with additional improvements such as culvert replacement and bridge repairs. Anticipated to start in July 2022 and complete by July 2023, this project enhances Granite's relationship with the DOT and showcases its capabilities in infrastructure development.
Granite Construction Incorporated (NYSE: GVA) has declared a quarterly cash dividend of $0.13 per common share, payable on July 15, 2022 to shareholders on record by June 30, 2022. Founded in 1922, Granite is a leading diversified construction and materials company in the U.S., recognized for its commitment to safety, quality, and sustainability. The dividend reflects the company's ongoing dedication to returning value to its shareholders while upholding ethical standards within the industry.
Granite (NYSE:GVA) has secured a $15 million contract from the Santa Clara Valley Water District for restoration work on Calabazas Creek in Cupertino, California. This project aims to enhance flood control by addressing earthen channel failures along 4,500 linear feet of streambed affecting residential properties. The construction will involve extensive channel excavation, rock slope protection, and steel sheet piling. Anticipated project start is July 2022, with completion expected by December 2023.
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