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 been recognized by Newsweek as one of America's Most Responsible Companies in 2025, marking its third consecutive year on the list. The recognition, announced on December 4th, 2024, evaluates companies based on Environmental, Social, and Corporate Governance (ESG) criteria.
The selection process involved analyzing the top 2,000 public companies by revenue, including banks and insurance companies with assets over $50 billion. The evaluation was based on two key parameters: a KPI Research examining over 30 performance indicators and a survey of 26,000 US residents assessing companies' CSR reputation.
Granite's President and CEO Kyle Larkin emphasized the company's commitment to sustainability and responsible business practices, highlighting their focus on stakeholder engagement and industry leadership in building a resilient future.
Granite (NYSE:GVA) has secured a $27 million subcontract for Phase 1 civil work on the Mosaic Quarter project in Tucson, Arizona, under general contractor Hensel Phelps. The project, valued at $425 million, will be a sports and entertainment lifestyle center featuring venues for ice hockey, basketball, and soccer. Granite's scope includes supplying 32,000 tons of aggregate base, 14,000 tons of sand, and 20,000 tons of asphalt from their Swan Plant. Construction began in November 2024 with completion expected in August 2026.
Granite Construction reported strong Q3 2024 results with revenue increasing 14% year-over-year to $1.3 billion. Net income reached $79 million, or $1.57 per diluted share, up from $58 million in the prior year. The company achieved record Committed and Awarded Projects (CAP) of $5.6 billion, representing a sequential increase of $44 million. Both Construction and Materials segments posted 14% year-over-year growth. Gross profit increased by $36 million to $203 million, while adjusted EBITDA totaled $149 million. The company expanded its southeast presence through the acquisition of Dickerson & Bowen.
Granite (NYSE:GVA) has secured a $42 million design-build contract from Naval Facilities Engineering Systems Command for the Relay Ground Station-Asia program at Naval Base Guam. The project involves constructing four structures, concrete foundations, and radar dome structures supporting the US Space Force's FORGE system for missile warning and defense. Design work began in September 2024, with construction scheduled from January 2025 to August 2026.
Granite (NYSE:GVA) is expanding its Southeast home market presence through multiple infrastructure projects following its acquisitions of Lehman-Roberts, Memphis Stone & Gravel (MSG), and Dickerson & Bowen Inc. The company secured three major projects: the Olive Branch Airport taxiway rehabilitation (2,750 tons of asphalt), the US 61 Tunica County project (34,000 tons of asphalt and 20,000 tons of shoulder gravel), and the SR 547 Claiborne County overlay project (22,500 tons of asphalt and 1,800 tons of granular material). All projects are scheduled for completion between July and October 2025.
Granite has secured a $21 million contract from Caltrans to rehabilitate three miles of pavement on SR 99 through Tulare, California. The project involves replacing existing pavement with 56,300 tons of hot mix asphalt and 7,200 tons of rubberized hot mix asphalt. The scope includes repaving thirteen ramps, replacing concrete pavement at ten locations, drainage improvements, upgraded signage, new striping, and median enhancements. The project will also implement extensive highway electrical upgrades including ramp metering systems, camera systems, and traffic monitoring stations. Construction is scheduled from November 2024 to May 2026.
Granite (NYSE:GVA) has been awarded a $27 million contract by the City of Bakersfield to enhance the SR 58/SR 99 interchange. The project, funded by the City and the Thomas Roads Improvement Program, includes widening the bridge over SR 99 and building a new bridge spanning Wible Road. Key components comprise:
- Four retaining walls
- 2,830 cubic yards of continuously reinforced concrete pavement
- 3,000 linear feet of concrete barrier rail
- 14,300 cubic yards of import borrow
- A comprehensive drainage package
Granite's Solari plant will supply materials for the project. Construction is scheduled to begin in November 2024 and be completed in May 2026.
Granite Construction Incorporated (NYSE: GVA) has announced the timing for its Q3 2024 earnings release and investor conference call. The company will release its financial results for the quarter ended September 30, 2024, before market opens on Thursday, October 31, 2024. An investor conference call is scheduled for 8:00 a.m. PT on the same day.
Investors can access the call through a live audio webcast on Granite's Investor Relations website or by calling 1-877-328-5503 (international: 1-412-317-5472). An archive of the webcast will be available approximately one hour after the call. A replay will be accessible until November 7, 2024, by calling 1-877-344-7529 (international: 1-412-317-0088) with replay access code 8631298.
Granite (NYSE: GVA) has announced the start of the $45 million Atlantic Base Refurbishment (ABR) project in Seattle, Washington. The project aims to modernize King County Metro's (KCM) six-acre trolley bus parking and maintenance facility. Using the General Contractor/Construction Manager (GC/CM) delivery method, the project has reached the Maximum Allowable Construction Cost (MACC) milestone, moving from pre-construction to construction phase.
The ABR project will replace all concrete paving and underground infrastructure, including storm drainage, sanitary sewer, industrial waste, and buried power lines. It will also rehabilitate underground storage tanks and upgrade the overhead catenary system to support KCM's expanding electric trolley fleet. The project aligns with Granite's sustainability goals and KCM's commitment to a zero-emissions fleet by 2035.
Construction is scheduled to begin in January 2025 and be completed in March 2027, with multiple phases to ensure uninterrupted operation of KCM's Atlantic Base.
Granite (NYSE: GVA) has secured a $34 million contract for seismic improvements at Oakland International Airport (OAK). The project aims to enhance the resilience of the airport's perimeter dike, protecting the runway from San Francisco Bay water intrusion. Key aspects include:
- Strengthening 4,200 LF of the OAK perimeter dike using cement deep soil mixing (CDSM)
- 62,295 CY of CDSM work by Keller North America, Inc
- Additional tasks: clearing, temporary work pads, wetlands protection, fuel line protection, and 2,100 CY of rip rap revetment
The project is partially funded by the FAA and will be included in Granite's Q3 CAP. Work is scheduled to begin in Q1 2025 and complete in Q3 2026, requiring careful planning to avoid disrupting airport operations.