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.
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.
Granite (NYSE:GVA) supports the inaugural Construction Inclusion Week from October 18-22, 2021. This initiative, created by the industry consortium “Time for Change,” aims to enhance diversity, equity, and inclusion in the construction sector. Granite’s President Kyle Larkin emphasizes the company's commitment to an inclusive culture. VP Jorge Quezada adds that such efforts could significantly improve the industry. Granite will utilize its platforms to promote inclusion and support diverse backgrounds in construction.
Granite Construction Incorporated (NYSE: GVA) will announce its third quarter 2021 financial results on October 28, 2021, before the market opens. An investor conference call is scheduled for 8:00 a.m. PT on the same day, accessible via a live audio webcast on their Investor Relations website or by phone. A replay will be available until November 4, 2021.
Granite, a leader in diversified construction and materials in the U.S., focuses on transportation, water infrastructure, and mineral exploration markets.
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Granite Construction Incorporated (NYSE: GVA) has declared a quarterly cash dividend of $0.13 per common share. This dividend is payable on October 15, 2021 to shareholders of record as of September 30, 2021. Granite is a leading diversified construction and materials company in the United States, known for its commitment to safety and sustainability in infrastructure development.