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 (NYSE:GVA) has joined the National Hispanic Corporate Council (NHCC) as a new corporate member. This partnership provides Granite access to valuable resources aimed at maximizing opportunities within the $2 trillion U.S. Hispanic market, which includes 60 million individuals. Jorge Quezada, Granite's VP of Inclusive Diversity, emphasized the company’s commitment to diversity and improving the lives of Hispanic employees and communities. The NHCC's five-pillar framework offers guidance on human resources, marketing, and community relations within the Hispanic market.
Granite (NYSE:GVA) has secured a $12 million contract from the County of San Luis Obispo for the construction phase of the Runway 11-29 Rehabilitation Project at San Luis Obispo County Regional Airport. This project follows Granite's previous contract for the construction manager at risk (CMAR) portion in 2020, where they provided design assistance. The work includes milling the runway and replacing it with new hot mix asphalt, along with upgrading signs and lighting to energy-efficient LED. Construction is set to begin in July 2021 and wrap up by October 2021.
Granite Construction (NYSE: GVA) announced that CEO Kyle Larkin will engage in a virtual fireside chat with Vertical Research Partners on June 16, 2021, at 2:00 p.m. ET. This event caters exclusively to Vertical Research clients and will be accessible via Granite's website about 24 hours post-chat. Established in 1922, Granite is a leading diversified construction company in the U.S., focusing on transportation, water infrastructure, and mineral exploration. The firm emphasizes safety, quality, and sustainability in its operations.
Granite (NYSE:GVA) has appointed three new directors and promoted Kyle T. Larkin to president and CEO. Michael F. McNally, who has been on the board since 2016, was elected as the new board chair. The new directors are Louis E. Caldera, former U.S. Secretary of the Army, Laurie M. Mullen, a retired KPMG partner, and Larkin, increasing the board from ten to twelve members. This transition follows the retirement of former chair Claes G. Bjork, who served for 15 years, contributing significantly during challenging times.
Granite Construction Incorporated (NYSE: GVA) has declared a quarterly cash dividend of $0.13 per common share. This dividend will be payable on July 15, 2021, to shareholders on record as of June 30, 2021. Granite is a leading diversified construction company in the U.S., focusing on transportation, water infrastructure, and mineral exploration. Established in 1922, the firm prides itself on strong ethical standards and industry-leading safety practices.
Granite Construction reported a net loss of $66.2 million ($1.45 per diluted share) for Q1 2021, slightly worse than a $65.4 million loss in Q1 2020. Revenue rose 5.3% to $669.9 million, with gross profit increasing 166.1% to $63.3 million, reflecting a margin boost to 9.5%. Adjusted EBITDA improved significantly to $16.9 million from a loss of $18.4 million a year prior. Operating cash flow surged $58.2 million to $38.1 million. Cash and marketable securities increased to $464.2 million, while debt fell to $340.3 million.
Granite (NYSE:GVA) secured a $160 million contract for the Leon Hurse Dam project in Ladonia, Texas, awarded by Upper Trinity Regional Water District. This project, part of Lake Ralph Hall, aims to construct a new earthen dam capable of delivering 45 million gallons of water per day to Collin, Denton, and Fannin counties. Construction is set to begin in July 2021 and is expected to address significant water needs in a rapidly growing population area. Granite’s history in complex dam projects positions it well for this undertaking.
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