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. 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.
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Granite Construction (NYSE: GVA) will report its third quarter financial results on October 27, 2022, before the market opens.
The company will host a conference call at 8:00 a.m. PT the same day. Investors can participate via a live audio webcast on Granite's Investor Relations website or by phone. A replay of the call will be available until November 3, 2022.
Granite is a leading diversified construction and materials company in the U.S., focused on safety, quality, and sustainability.
Granite (NYSE:GVA) will receive the Corporate Visionary Award at the Seventh Annual Latino Corporate Directors Association (LCDA) Board Leaders Convening on October 25, 2022, in New York City. This recognition highlights Granite's commitment to advancing Latino representation on corporate boards. Granite's VP of People and Culture, Jorge Quezada, emphasizes the company's collective diversity efforts. The award reflects the importance of having multiple US Latinos on the board, recognizing board members Louis Caldera and Gaddi Vasquez, among others.
Granite (NYSE:GVA) has secured an $11 million contract from the California Department of Transportation to build a new bikeway and multipurpose path in Carpinteria, California. This project aims to close a gap in the California Coastal Trail, enhancing access for pedestrians and cyclists. Key updates include new signage, crosswalks, and landscaping at the intersection of Carpinteria Avenue and Estero Street. Construction is scheduled to begin off-peak, between Labor Day and Memorial Day, to minimize disruptions. Completion is expected by May 2023.
Granite (NYSE:GVA) has joined the U.S. Green Building Council (USGBC) as a Silver level member, demonstrating its commitment to sustainable construction practices. The membership aligns with Granite's strategic goal to enhance industry-wide sustainability, which CEO Kyle Larkin emphasized as vital for improving community quality of life. Sustainability Manager Raven Adams noted the importance of integrating sustainable practices across all company sectors. The USGBC aims to promote green building through initiatives like the LEED program and community advocacy.
H.B. Fuller Company (NYSE: FUL) announced the appointment of Celeste Mastin as the new President and CEO, effective December 4, 2022. Mastin, previously the Executive Vice President and COO, succeeds Jim Owens, who is retiring after 12 years of leadership. Under Owens, the company saw revenue and market value triple, shifting focus to higher-growth sectors like electronics and solar. The transition follows a multi-year succession planning process, with the board expressing confidence in Mastin's ability to advance the company's growth strategy.
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Granite (NYSE:GVA) has secured two construction contracts totaling approximately $107 million for projects on State Highway 288 near Houston, Texas. These contracts, funded by the Texas Department of Transportation, expand Granite's total project value on SH 288 to over $145 million when combined with an earlier $40 million contract. The projects will cover 24 lane miles of highway, including the construction of five new bridges and improvements to ramps. Construction is expected to start in fall 2022 and be completed by summer 2024.
Granite Construction (NYSE:GVA) has decided to retain its Water Resources and Mineral Services businesses due to unfavorable market conditions preventing a satisfactory sale. These segments will now be included in continuing operations, with their financials to be reported accordingly. CEO Kyle Larkin expressed optimism about the strong market demand and the potential for these businesses to enhance shareholder value and EBITDA margins. Notably, Granite returned value to shareholders by repurchasing over 2.3 million shares in 2022 and maintaining strong liquidity.
Granite Construction (NYSE: GVA) has declared a quarterly cash dividend of $0.13 per common share, payable on October 14, 2022. Shareholders of record at the close of business on September 30, 2022 will receive this dividend. Established in 1922, Granite is a leading diversified construction company in the U.S., renowned for its commitment to quality, safety, and sustainability.