Granite Constr Inc Stock Price, News & Analysis

Granite (NYSE:GVA) celebrates its 100th anniversary on January 4, 2022, marking a century as a major civil infrastructure contractor and construction materials producer. Founded in Watsonville, California, Granite operates across the U.S., from Guam to Alaska and Florida. President and CEO Kyle Larkin expressed gratitude to employees, clients, subcontractors, and communities for their support in building vital infrastructure. Looking ahead, Granite aims to adapt and thrive in a changing world by understanding client and community needs as it builds for the next century.

Granite (NYSE:GVA) has committed to enhancing women's representation in leadership through its participation in the Catalyst CEO Champions for Change initiative. This program supports promoting women across various ethnic and racial groups into executive roles, with women now making up 27.9% of executives compared to 23% globally. A report showed that Champion companies, including Granite, promoted women at nearly equal rates to men in 2020. Additionally, women held 32.2% of board positions at these companies, exceeding the Fortune 500 average of 26.5%.

Granite Construction Incorporated (NYSE: GVA) has declared a quarterly cash dividend of $0.13 per common share. The dividend is set to be paid on January 14, 2022 to shareholders on record as of the close of business on December 31, 2021. This announcement reaffirms Granite's commitment to returning value to its shareholders while maintaining its position as a leader in the construction and infrastructure sector in the U.S.

Granite (NYSE:GVA) received two 2021 CalCIMA Excellence in Safety Awards at the CalCIMA Education Conference, recognizing its commitment to safety leadership and innovation. The Solari Sand & Gravel facility in Arvin won in the Small Aggregate Mine category, incorporating advanced safety systems including innovative cone crushers and updated electrical systems. The Desert Cities Asphalt Plant in Indio won for its enforcement of PPE standards and daily safety meetings. The recognition reflects Granite's dedication to maintaining high safety standards across its operations.

Granite (NYSE:GVA) announces that CIO Malcolm Jack has received the 2021 Info-Tech CIO Award for exceptional performance in IT, specifically in the "Visionary and Growth Leaders" category. This accolade recognizes the significant boost in satisfaction scores achieved by Granite's IT department over the past year. Jack credits the accomplishment to the team's dedication, reflecting Granite's commitment to high performance and stakeholder satisfaction. The award emphasizes the importance of IT leaders in delivering business value, particularly during challenging times.

Granite Construction reported Q3 2021 revenue of $1.1 billion, almost unchanged from last year. The company saw a net income increase to $35.0 million or $0.73 per diluted share, reversing a net loss of ($91.2 million) last year. Adjusted net income fell to $43.2 million or $0.93 per diluted share. Gross profit decreased to $119.9 million, with margins stable. CAP rose by $135.4 million year-over-year to $4.3 billion. Cash and securities increased to $475 million, while debt decreased to $340 million.

Granite (NYSE:GVA) has received the Governor’s Safety Award of Excellence from The Alaska Safety Advisory Council for 2020, marking the sixth time in nine years the company has achieved this recognition. This award underscores Granite's commitment to safety, health, and environmental practices, based on rigorous OSHA performance metrics. Regional Safety Manager Chris Rodriguez highlighted the importance of safety as a core value within the company. Granite is recognized as a leader in the construction and infrastructure sectors, emphasizing its dedication to maintaining a top-tier safety culture.

Granite (NYSE:GVA) has launched the Construction DEI Talks podcast, in collaboration with Rosendin, focusing on diversity, equity, and inclusion in the construction industry. The podcast is co-hosted by Granite's Vice President of Inclusive Diversity, Jorge Quezada, and industry professionals. The first episode features Granite President and CEO Kyle Larkin alongside Rosendin CEO Mike Greenawalt. The podcast aims to drive essential conversations within the industry and will be released monthly across major platforms. Granite, established in 1922, is a leading diversified construction company in the U.S.

Granite (NYSE:GVA) has secured a $19 million contract for a runway repair project at Cannon Air Force Base from the U.S. Army Corps of Engineers. This project includes a mill and asphalt overlay, new runway shoulders, and installation of various lighting systems. Work is set to start in November 2021 and finish by July 2022. This contract marks a significant achievement for Granite, reinforcing its presence in the Southwest and enhancing its portfolio in military airfield projects.