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 Construction reported a net loss of ($145.1) million for FY 2020, reflecting a significant increase from a net loss of ($60.2) million in FY 2019. However, adjusted net income rose to $60.0 million, up from an adjusted net loss of ($27.2) million. Revenue grew 3.4% to $3.6 billion, with gross profit surging 55.5% to $344.8 million. Adjusted EBITDA rose to $189.7 million. Operating cash flow reached a record $268.5 million. The company anticipates low- to mid-single digit revenue growth for 2021.
Granite Construction (NYSE: GVA) has announced the record date for its 2021 Annual Meeting of Shareholders as April 12, 2021. The virtual meeting is set for June 2, 2021, at 10:30 a.m. PT. Granite, a leader in the construction and materials industry, focuses on transportation, water infrastructure, and mineral exploration. The company emphasizes ethical standards through its Code of Conduct and is recognized for its safety, quality, and sustainability efforts.
Granite Construction (NYSE: GVA) will announce its fourth quarter and full fiscal year 2020 financial results on March 30, 2021, prior to market opening. An investor conference call is scheduled for the same day at 8:00 a.m. PT, which will be accessible via a live audio webcast on their Investor Relations website. Granite is a prominent player in the construction sector, providing services in transportation and water infrastructure.
Granite Construction Incorporated (NYSE: GVA) has received a notice from the NYSE indicating non-compliance with Section 802.01E due to its failure to timely file its Annual Report on Form 10-K for the year ended December 31, 2020. The company has until September 17, 2021, to file this report, with a potential extension of six months available at the NYSE's discretion. Granite emphasizes its commitment as a leading construction and materials provider in the U.S., focused on high ethical standards and safety.
Granite (NYSE: GVA) and Obayashi Corporation have secured a $42 million contract for the P3001 Standoff Weapons Complex at Andersen Air Force Base, Guam, awarded by NAVFAC PAC. This project involves expanding existing facilities and upgrading infrastructure to support missile assembly. Notably, Granite has executed 38 projects for the Department of Defense in Guam over the past decade. Construction is scheduled to begin this month and complete by March 2023, with a significant impact on Granite's financial backlog for Q1 2021.
Granite Construction has declared a quarterly cash dividend of $0.13 per common share, payable on April 15, 2021, to shareholders of record as of March 31, 2021. This announcement reflects Granite's commitment to returning income to shareholders while maintaining its position as a leading construction and materials company in the U.S. Incorporated in 1922, Granite operates in transportation, water infrastructure, and mineral exploration markets, emphasizing high ethical standards and sustainability.
Granite (NYSE:GVA) has secured a $267 million contract for the Lower Olentangy Tunnel project in Columbus, Ohio, which will enhance water quality by mitigating sewer overflow during floods. This project, set to commence in March 2021 and conclude in December 2026, involves constructing a 17,000-foot main tunnel with a diameter of 144 inches, utilizing a tunnel boring machine. Granite aims to leverage its prior experience with the city, having completed a similar project in the past. This award will contribute to Granite's backlog in Q1 2021.
Granite has been awarded several prestigious accolades from the National Asphalt Pavement Association (NAPA), including three Diamond Paving Commendations, seven Diamond Achievement Commendations, 27 Diamond Achievement Sustainable Commendations, and 31 Diamond Quality Commendations. These commendations recognize best practices in asphalt production and paving operations. The awards are a testament to Granite's commitment to sustainability, quality, and operational excellence in the construction industry.
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