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) has secured an $18 million sub-contract from Swinerton for the University of California, Santa Cruz (UCSC) Kresge College Work Package #4. This project is part of a broader multi-year renewal initiative aimed at enhancing student enrollment while reducing local housing impact. The scope involves constructing retaining walls, relocating utilities, and renovating the North Bridge pedestrian walkway. Construction is set to begin in November 2020 and conclude in early 2022, with materials sourced from Granite's nearby Felton Facility.
Granite (NYSE:GVA) has secured a $12 million contract for the Oakhurst Midtown Connector project from Madera County, California, included in its Q3 2020 backlog. This project aims to alleviate traffic congestion by constructing a new two-lane road connecting State Route 41 with Indian Springs Road. Granite will manage the construction of the roadway, a box girder bridge over Nelder Creek, bike lanes, sidewalks, and signalized intersections. The construction is currently underway, with completion expected by spring 2022.
Granite (NYSE:GVA) announced the award of two airport projects worth a total of $15 million. The first project, valued at $9 million, involves the reconstruction of runway 2-20 at Inyokern Airport in California, with construction set to begin in November 2020 and completion expected by June 2021. The second project, a $6 million rehabilitation of Merrill Field Drive in Anchorage, Alaska, will commence in May 2021 and is expected to finish by October 2021. These projects enhance Granite's backlog and reaffirm its position in aviation construction.
Granite (NYSE:GVA) has been selected by Caltrans as the Construction Manager/General Contractor for the $257 million State Route 99 Rehabilitation project in Fresno, California. The initial construction management phase is valued at $3 million. The project aims to reconstruct 3.2 miles of roadway, improve traffic flow, and includes the replacement or widening of six bridges. The contract's construction management phase is set to begin by late 2020, with the general contracting phase starting in mid-2024, contributing to Granite's fourth quarter 2020 backlog.
Granite (NYSE:GVA) has secured a Construction Manager at Risk (CMAR) contract from the Metro Wastewater Reclamation District for the PAR 163 Interceptor Rehabilitation 2020-2022 project in Denver, Colorado. The total contract value is projected to approach $30 million, including a $500,000 preconstruction contract. The project involves rehabilitating sewage treatment plant piping and includes advanced cured-in-place pipe (CIPP) technology to reduce environmental impact. Construction is set to commence in late 2020 and continue through 2022.
Granite (NYSE:GVA) has secured a $16 million task order contract from the U.S. Department of Homeland Security’s FEMA for housing construction in Saipan, CNMI, following Super Typhoon Yutu. This project will be part of a previously awarded national construction contract aimed at building twenty new homes. Construction is set to begin in fall 2020 and end by spring 2021, with the contract contributing to Granite's backlog in Q4 2020. Granite has been active in the Mariana Islands since 2011, showcasing its capabilities in disaster recovery.
Granite (NYSE:GVA) received three prestigious awards from the National Stone, Sand, and Gravel Association (NSSGA) in 2020, including two for Environmental Excellence and one for Community Relations. The Environmental Excellence Awards were given to Granite’s Palmer Facility in Anchorage, Alaska, and Lockwood Quarry in Sparks, Nevada, highlighting their commitment to sustainable operations. The Community Relations Award was presented to Rowley Quarry in Yakima, Washington, recognizing its engagement with the local community through various activities. Granite emphasizes that these achievements reflect their core values of sustainability and community involvement.
Granite (NYSE:GVA) has secured the El Portal Pedestrian Rail Undercrossing project in Encinitas, California, with a contract worth $7 million. This project, awarded by the San Diego Association of Governments (SANDAG), will be reflected in Granite's financial backlog for Q3 2020. Scheduled construction will commence in fall 2020 and is expected to finish by spring 2022. The undercrossing will enhance pedestrian and cyclist safety, linking important local attractions and minimizing disruptions to rail traffic.
Granite Construction (NYSE: GVA) has appointed Kyle T. Larkin as President and Principal Executive Officer, effective September 22, 2020. Larkin, who has been with the company since 1996, will succeed James H. Roberts, who is retiring after decades of service. The board expressed confidence in Larkin's leadership, emphasizing his strategic focus and experience in various roles within the company. Roberts will remain to ensure a seamless transition as Chief Executive Officer Emeritus.