Granite Constr Inc Stock Price, News & Analysis

Granite Construction (NYSE: GVA) reported its Q1 2025 financial results with mixed performance. Revenue increased 4% year-over-year to $700 million, with Construction and Materials segments showing growth of 3% and 10% respectively. The company posted a net loss of $34 million, or $(0.77) per diluted share, compared to a loss of $31 million in Q1 2024. However, adjusted net income was $224,000 ($0.01 per share). Gross profit improved to $84 million from $54 million year-over-year, while SG&A expenses increased to $116 million primarily due to stock-based compensation. The company's Committed and Awarded Projects (CAP) reached a record $5.7 billion, up $444 million sequentially. Operating cash flow was $4 million, and management maintained their 2025 guidance, projecting revenue between $4.2-4.4 billion and adjusted EBITDA margin of 11-12%.

Granite (NYSE:GVA) has released its 2024 Sustainability Report, showcasing the company's commitment to creating lasting value through social responsibility, environmental stewardship, and governance. CEO Kyle Larkin emphasized sustainability as central to their mission of providing infrastructure solutions for resilient communities.

Key achievements include:

• Recognition by Newsweek as one of America's Most Responsible Companies for 2025
• Record-breaking safety performance in company history
• $28 million investment in energy efficiency for materials facilities
• 25 asphalt plants received Diamond Achievement Sustainable Commendations from NAPA

The report introduces Granite's refreshed Sustainability Strategic Plan, focusing on leveraging sustainability as a competitive advantage. Sustainability Director Raven Adams highlighted the "Sustainability Value Add" theme, emphasizing value creation for stakeholders through shared sustainability goals.

Granite (NYSE:GVA) has secured a $38 million contract from Caltrans to upgrade the Cactus City Rest Area near Coachella, California. The project encompasses both eastbound and westbound segments and will be funded through state and federal sources.

Key project components include:

• Demolition of existing structures
• New drainage installation
• Ramp and parking lot paving
• Construction of new facilities

The company's Desert Cities Asphalt Plant will supply 21,000 tons of hot mix asphalt for the project. Located just 20 miles from Granite's regional office and asphalt plant, this initiative serves as an anchor job for the Coachella Valley market. Construction is scheduled to begin in July 2025 and conclude in September 2026.

This project aligns with Granite's strategy of expanding their rest area improvement portfolio, following their work on the John Wilkie Rest Area on Interstate 40. The upgrades aim to enhance travel safety by providing clean and safe spaces for travelers.

Granite (NYSE:GVA) has achieved a significant milestone as its AI learning platform, Granite Asphalt Guru, won the AGC Innovation of the Year Award at the AGC Annual Convention in Columbus, OH. The platform, presented by Daniel Mekis and Olivia McNary, showcases the company's commitment to technological advancement in infrastructure.

The Asphalt Guru platform leverages an extensive knowledge base comprising 900 pages of interview transcripts and thousands of documents, integrated with external data including OSHA injuries and DOT standards. The system has already served over 400 Granite employees, answering more than 1,000 questions through both its e-learning program and mobile access in the field.

Developed in partnership with StackAI, the platform preserves and shares valuable expertise from paving professionals, ensuring knowledge transfer to future generations in the construction industry.

Granite (NYSE:GVA) has secured an $80 million contract from the Texas Department of Transportation for upgrading FM 548 near Forney, TX. The project will convert the existing asphalt roadway from FM 548 north of US 80 to Windmill Farms Blvd into a concrete paved road with additional lanes and drainage improvements.

The scope includes over 200,000 square yards of 10" concrete pavement and 40,000 linear feet of new storm drain. The infrastructure upgrade aims to increase traffic capacity in Forney's busiest commercial area. Construction is scheduled to begin in July 2025 and complete in March 2027. The project will be included in Granite's first-quarter CAP and funded through state sources.

Granite Construction (NYSE: GVA) has scheduled its Q1 2025 financial results release for Thursday, May 1, 2025, before market opening. The company will host an investor conference call at 8:00 a.m. PT on the same day.

Investors can access the live audio webcast through Granite's Investor Relations website at investor.graniteconstruction.com. The call is also accessible via phone at 1-877-328-5503 (domestic) or 1-412-317-5472 (international). A webcast archive will be available approximately one hour after the call, and a replay will be accessible through May 8, 2025, using code 2269082.

Granite (NYSE:GVA) has achieved a prestigious 4-Star Employer recognition in the 2025 VETS Indexes Employer Awards, marking its continued excellence in supporting military veterans and their families. This achievement follows their previous 3-Star rating in 2023 and 4-Star rating in 2024.

The award acknowledges Granite's outstanding commitment to recruiting, hiring, retaining, developing, and supporting veterans and the military-connected community. VETS Indexes President George Altman praised Granite's veteran employment program as a model for other organizations.

Since 2020, Granite's Talent Acquisition team has implemented a comprehensive veteran and transitioning military recruitment strategy, incorporating various military-centric partnerships and initiatives. Tim Gruber, EVP of Human Resources, emphasized the positive impact of veteran employees' values and skills on the organization.

Granite (NYSE:GVA) has announced its Board of Directors' decision to declare a quarterly cash dividend of $0.13 per common share. The dividend will be distributed to shareholders of record as of March 31, 2025, with the payment scheduled for April 15, 2025.

Granite (NYSE:GVA) has achieved a significant milestone by winning Handshake's Early Talent Award (ETA) for the fifth consecutive year, distinguishing itself among over 900,000 employers on the platform.

The award recognizes excellence in four key areas:

• Brand resonance
• Effective engagement through unique clicks per message
• Active participation in career fairs
• Strong student relationships via reciprocal messaging

Jessica Somers, Granite Director of Talent Acquisition, and Tim Gruber, SVP of Human Resources, emphasized the company's commitment to developing early talent and maintaining a best-in-class college recruitment program. This recognition reinforces Granite's dedication to shaping the construction industry's future workforce.