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) 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.
Granite (NYSE: GVA) has been honored with six awards from the National Stone, Sand & Gravel Association (NSSGA), including the prestigious Bronze Louis Griesemer Sterling Safety Award for large companies. The awards were presented at the NSSGA Legislative & Policy Forum in Washington DC on September 27, 2024.
The Louis Griesemer Sterling Safety Award recognizes companies with the lowest total accident incidence rate for the previous year. Granite's achievement in the large company category highlights its commitment to maintaining high safety standards across all operations.
Brad Estes, Granite Senior Vice President of Construction Materials, emphasized that safety is a Core Value at Granite, reflecting the company's dedication to protecting its workforce. The company also received several facility-specific awards for safety and environmental excellence, including gold and silver recognitions for various locations across the United States.
Dr. Patricia D. Galloway, a valued member of Granite's (NYSE:GVA) Board of Directors, passed away on September 26, 2024. She had served on the board since June 2017, contributing to the Nominating and Corporate Governance and Compensation Committees. With over 40 years of experience in energy and construction, Dr. Galloway was the chairman of Pegasus-Holdings Inc. and owner of Galloway Arbitration.
Mike McNally, Granite Board Chair, and Kyle Larkin, Granite President and CEO, expressed their deep sympathies and highlighted Dr. Galloway's significant contributions to the company. Her expertise as an international chartered arbitrator and Dispute Review Board member made her an influential and highly engaged board member, providing valuable guidance to Granite's leadership team during her seven-year tenure.
Granite (NYSE: GVA) has been ranked #1 in the Highways market for the fourth consecutive year and #2 in the Mining market by Engineering News-Record (ENR) magazine's 2024 Top Contractors Sourcebook. This marks the sixth time in seven years that Granite has secured the top spot in Highways.
Kyle Larkin, Granite's President and CEO, emphasized the company's leading position in supporting nationwide infrastructure reinvestment. Jim Radich, Chief Operating Officer, highlighted the importance of client relationships and the company's commitment to safety, ethics, and productivity.
Granite's notable rankings in other markets include:
- #6 in Transportation and Water Supply
- #7 in Dams and Reservoirs
- #11 in Mass Transit and Rail
- #15 in Solar
- #16 in Airports
- #21 in Bridges
- #36 in Power
Granite (NYSE: GVA) and Obayashi , under the Granite-Obayashi 2 Joint Venture, have been awarded a $113 million contract to construct new facilities at Marine Corps Base Camp Blaz (MCCB) in Guam. The project, funded by the Department of Defense's Military Construction, will support the Marine Expeditionary Force 9th Engineer Support Battalion.
The contract includes building low-rise facilities with reinforced concrete structures, such as an auto organization shop, electrical/communications maintenance shop, organic storage, vehicle wash rack, and vehicle laydown area. This marks Granite's second major facilities initiative at MCCB, reinforcing their role in supporting the U.S. Marine Corps' strategic objectives in the Pacific region.
The project is scheduled to begin in October 2024 and be completed in January 2027.