Granite Construction (GVA) Stock News, May-Jul 2025

Granite (NYSE:GVA) has secured a Construction Manager/General Contractor (CM/GC) project at San Francisco International Airport (SFO) for the Runway 1R-19L Rehabilitation and Taxiway W Construction Project. The project, valued at $115 million, is part of SFO's multi-billion-dollar Capital Improvement Program.

The construction phase will run from March 2026 through November 2026, following a preconstruction period from June 2025 to January 2026. The scope includes rehabilitating Runway 1R-19L, constructing new Taxiway W, and upgrading various infrastructure components. Granite will supply approximately 185,000 tons of asphalt from its Santa Clara facility.

Granite (NYSE:GVA) has been awarded the Rice Pumping Station & Pipeline Project as part of the Horizon Lateral Program in Southern Nevada. The project, in partnership with Contri Construction Company through the Southern Nevada Construction Partners joint venture, includes building a 30 million gallons per day pumping station and installing a 21,000-linear-foot, 42-inch diameter steel water pipeline.

The project begins with a $2 million preconstruction services agreement awarded in May 2025, with an expected transition to a $100-$120 million construction phase, of which Granite's portion will be approximately $70 million. Construction is scheduled to run from February 2027 through March 2030, enhancing water delivery capabilities for the Las Vegas Valley Water District and City of Henderson.

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Granite (NYSE:GVA) has been awarded a significant Progressive Design-Build (PDB) contract by the Tahoe City Public Utility District for the Tahoe Cedars Water Reconstruction Project in Tahoma, California. The project, marking Granite's first PDB contract in California, includes a $3 million preconstruction phase and an anticipated $60 million construction value. The project aims to modernize water infrastructure dating back to the 1940s, encompassing the replacement of 15 miles of water mains, relocation of 632 water service lines, installation of 97 new fire hydrants, and addition of over 1,000 residential water meters. Preconstruction began in Spring 2025 and will continue through early 2026, with construction scheduled from May 2026 through 2029. DOWL, LLC will serve as the Designer-of-Record for this comprehensive infrastructure upgrade project.

Granite (NYSE: GVA) has announced a quarterly cash dividend declaration of $0.13 per common share, as approved by its Board of Directors. The dividend will be distributed on July 15, 2025, to shareholders who are on record as of the close of business on June 30, 2025. This regular dividend payment demonstrates Granite's commitment to providing consistent returns to its shareholders.

Granite (NYSE:GVA) has secured a $21 million contract from Carson City, Nevada for the East William Complete Street Project. The project aims to transform a 1.5-mile stretch of East William Street into a multi-modal roadway, improving accessibility for drivers, cyclists, and pedestrians. Funded through local sources and a Federal Highway Administration grant, the project will be included in Granite's second-quarter CAP. Granite's Brunswick Facility will supply approximately 10,000 tons of asphalt pavement for the construction, which is scheduled to begin in July 2025 and complete by Summer 2026. The project represents one of Carson City's major corridor complete streets initiatives, focusing on upgrading a key gateway to the downtown core.

Granite (NYSE:GVA) has secured a $26 million contract from San Francisco International Airport (SFO) for the rehabilitation of Taxiway Z and part of Taxiway S. The project, part of SFO's multi-billion-dollar Capital Improvement Program, will focus on upgrading critical infrastructure including reconstruction of asphalt concrete pavement, LED lighting installation, electrical duct bank upgrades, and drainage improvements. Taxiway Z serves as a primary corridor for aircraft movement between terminals, maintenance, and cargo facilities. Construction is scheduled to begin in August 2025 and complete by November 2025. Granite's Santa Clara facility will supply 24,105 tons of hot mix asphalt for the project. The contract will be included in Granite's second-quarter CAP.

Granite (NYSE:GVA) has secured a $54 million federal contract for the first phase of a Parks Highway realignment project in Alaska. The project, awarded by the Alaska Department of Transportation and Public Facilities, involves realigning the highway from milepost 319 to 322 to enhance traffic safety by reducing sharp corners. The scope includes 2.5 million cubic yards of earthwork and 25,000 tons of asphalt paving.

The project utilizes a Construction Manager/General Contractor (CMGC) approach, with an estimated $35 million value for the remaining segment. Construction began May 1, 2025, with completion expected by September 2027. The project team includes DOT&PF, Michael Baker International as designer, and Granite, collaborating to optimize design and execution.

Granite (NYSE:GVA) announced that Executive Vice President and Chief Operating Officer (COO) James A. "Jim" Radich will retire on July 4, 2025. Following his retirement, Granite will restructure its reporting lines, with Senior Vice Presidents of Construction and Materials reporting directly to President and CEO Kyle Larkin instead of appointing a new COO.

Radich, who initially joined Granite in 1980, has held various leadership roles including project manager, chief estimator, vice president, regional manager, and senior vice president. His experience spans multiple construction sectors across different geographical regions. Between 1993 and 2011, Radich worked outside of Granite before returning to the company. He holds a BS in civil engineering from Santa Clara University and is a registered civil engineer in California.