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. (NYSE: GVA), known as Granite, regularly issues news updates that reflect its role in U.S. transportation and civil infrastructure. Company announcements highlight contract awards, project milestones, financial results, certifications, and corporate actions that are relevant to investors, industry participants, and stakeholders following GVA stock.
News items show Granite’s involvement in highway expansion, bridge rehabilitation, commuter rail improvements, and airport airfield projects. Examples include a highway improvement contract on State Route 49 in Nevada County, California, bridge replacements along historic Route 66 in San Bernardino County, rehabilitation of the Lake Street Bascule Bridge in Chicago, and runway and airfield work at Tucson International Airport. These stories illustrate how Granite’s construction and materials capabilities are applied across roads, bridges, rail, and aviation infrastructure.
Granite’s news flow also covers financial and corporate developments. The company reports quarterly earnings, including segment performance for its Construction and Materials segments and changes in Committed and Awarded Projects (CAP). Releases may include updates on acquisitions, such as the purchase of Warren Paving and related entities, and financing arrangements like amendments to its credit agreement. Dividend declarations and board or executive changes are also disclosed through news and related SEC filings.
Another category of news involves certifications and compliance milestones. For example, Granite has announced achieving Cybersecurity Maturity Model Certification (CMMC) Level 2, a requirement for certain federal contractors handling Controlled Unclassified Information. This type of update signals the company’s readiness to pursue and execute federal infrastructure work that requires specific cybersecurity standards.
Investors and observers who follow Granite’s news can track how new contracts, project awards, acquisitions, and certifications contribute to the company’s project pipeline and operational profile. The GVA news page aggregates these announcements in one place, making it easier to review recent developments in Granite’s construction, materials, and corporate activities.
Granite (NYSE:GVA) responded quickly to a roadway emergency after a large boulder, measuring 45-feet-wide and 25-feet-tall, blocked US Highway 50 near Echo Summit on March 3. Crews were dispatched on March 4, and after extensive drilling and blasting with Caltrans, the roadway was cleared. Granite is also monitoring the affected slope continuously. The company is actively engaged in emergency repairs following damage from last summer's Caldor Fire in the same area.
Granite Construction reported a net income of $10.1 million ($0.22 per diluted share) for FY 2021, a recovery from a loss of $145.1 million the previous year. Adjusted net income rose to $83.2 million ($1.80 per share), up from $61.1 million. Revenue from continuing operations fell 3.8% to $3.0 billion, while total revenue decreased 1.7% to $3.5 billion. CAP stood at $4.0 billion. However, Q4 showed a net loss of $13.2 million, with revenue down 17.7% to $683.2 million. For 2022, Granite expects low single-digit revenue growth and adjusted EBITDA margins of 6% to 8%.
Granite (NYSE:GVA) has secured three contracts worth approximately $23.8 million from the Ellis-Prairie Soil and Water Conservation District in Ellis County, Texas. These contracts, announced during the fourth quarter of 2021 and expected to contribute to the first quarter of 2022, involve the rehabilitation and upgrading of floodwater retention structures across three sites. The improvements will enhance flood protection and control rainfall runoff. Completion is anticipated by October 2023.
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H.B. Fuller Company (NYSE: FUL) announced the appointment of Celeste Mastin as executive vice president and chief operating officer, effective March 7, 2022. Mastin, with over 30 years in manufacturing and distribution, succeeded Ted Clark, who will transition to a strategic advisory role. This succession aims to ensure continuity in H.B. Fuller’s strategic plan, which has driven notable growth. Mastin’s previous role as CEO of PetroChoice positions her to enhance operational leadership and further propel the company’s growth and profitability.
Granite (NYSE:GVA) has announced that its Salinas Asphalt Facility has received certification as a Green Business from Monterey County and the California Green Business Network. This facility is the third from Granite to achieve this designation, highlighting the company's commitment to sustainability. Each year, Granite recycles over one million tons of asphalt and concrete in California, with the Salinas facility contributing more than 50,000 tons. The facility implements various eco-friendly measures, including water conservation and the use of non-toxic products.
Granite Construction (NYSE: GVA) is set to release its fourth quarter and annual 2021 financial results on February 25, 2022, before the market opens. An investor conference call will follow at 8:00 a.m. PT, providing an opportunity for investors to gain insights into the company's performance. The call will be accessible via a live audio webcast on Granite's Investor Relations website or by telephone. A replay of the call will be available until March 3, 2022.
Granite (NYSE:GVA) received 72 awards from the National Asphalt Pavement Association (NAPA), recognizing excellence in plant and paving operations across six states. The honors were awarded at NAPA's 67th annual meeting in Scottsdale, Arizona. Notable accolades include 46 Diamond Commendations and 26 Quality in Construction (QIC) Awards, underscoring the company's commitment to quality, safety, and sustainability. Granite's achievements showcase its leadership in asphalt practices and dedication to compliance, reflecting positively on its operational standards.
Granite (NYSE:GVA) has been awarded the 2021 ConocoPhillips Excellence in Safety Award in the Highway Division by the Associated General Contractors of Alaska. This recognition highlights Granite's commitment to construction safety, achieved through significant efforts in 2021, including onboarding 190 craft employees and completing 33 projects across over 60 sites, totaling more than 300,000 work hours. Senior VP Dave Hulverson emphasized the team's dedication to fostering a world-class safety culture.
Granite (NYSE:GVA) announced a $16.5 million construction manager contract for the 5600 South Design Build project by the Utah Department of Transportation. The total project value is $155 million, with Granite's share at $93 million (60%). The scope includes widening 5600 South in Roy, Utah, constructing six bridges, and utilizing around 85,000 tons of hot mix asphalt. The construction manager phase starts in February 2022, with overall construction anticipated to begin in Q2 2023. This marks a continuation of Granite's successful partnership with UDOT.