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.
Overview
Granite Constr Inc (GVA) has been a cornerstone in the heavy civil construction and infrastructure development industry since 1922. Specializing in large-scale projects such as highways, tunnels, bridges, and transit facilities, Granite has built a reputation for its expertise in alternative project delivery methods, including design-build and best value partnerships. Its operations, deeply rooted in technical excellence and innovation, serve both public and private sector clients across the United States.
Core Business Areas
The company excels in the construction of critical infrastructure projects ranging from mining and earthwork to rail, water/sewer systems, and power facilities. Furthermore, Granite undertakes projects in site preparation and residential as well as energy development, showcasing the breadth of its service offerings. By focusing on a robust construction operating segment alongside a supportive Materials segment, the company ensures a comprehensive approach to project delivery.
Innovative Project Delivery
Central to Granite's business model is its pioneering approach to alternative project delivery. This method emphasizes early collaboration between owners, designers, and builders to create cohesive project teams, which in turn enhances efficiency, mitigates risks, and drives project success. Such a model is particularly advantageous in managing complex infrastructure projects, where integration and precision are critical.
Industry Position and Expertise
Granite Constr Inc is renowned for its capacity to handle multifaceted construction projects. Its deep industry experience and long-standing dedication offer assurance of quality and consistency in execution. Key industry terms such as heavy civil construction, infrastructure development, and alternative project delivery are not mere buzzwords for Granite; they define a commitment to technical excellence and strategic innovation that has been honed over decades of operation.
Market Dynamics
Operating within a competitive and regulated market, Granite distinguishes itself by leveraging its extensive experience and specialized project delivery techniques. Competitors within the infrastructure sphere may have similar service lines, yet Granite's integrated model, which synergizes construction and material supply, provides a resilient framework to manage industry challenges. This approach, combined with rigorous project management and technical acumen, positions the company as a trusted entity in the heavy civil construction market.
Client-Centric Approach
Granite Construction Inc prioritizes building long-term relationships with its diverse clientele, which includes local, state, and federal agencies as well as private developers. Through bespoke project strategies and an unwavering commitment to quality, the company ensures that project outcomes are aligned with client objectives. This client-centric approach further reinforces its market reputation as an entity that values precision, efficiency, and dependable execution.
Technical and Operational Excellence
Integrating advanced construction techniques with rigorous project management standards, Granite has cultivated a reputation for technical and operational excellence. The seamless coordination among multidisciplinary teams, combined with the strategic use of modern technology and industry best practices, underscores the company’s focus on delivering projects that meet and exceed stringent performance criteria.
Conclusion
In summary, Granite Constr Inc (GVA) offers a comprehensive suite of services in the heavy civil construction and infrastructure sectors. Its pioneering alternative project delivery methods, extensive industry experience, and commitment to integrated project teams form the foundation of its enduring market presence. The company continues to provide reliable, unbiased, and technically sophisticated services to a broad spectrum of clients, ensuring that its operations remain relevant and respected within the construction industry.
Granite (NYSE:GVA) has announced its Board of Directors' decision to declare a quarterly cash dividend of $0.13 per common share. The dividend will be distributed to shareholders of record as of March 31, 2025, with the payment scheduled for April 15, 2025.
Granite (NYSE:GVA) has achieved a significant milestone by winning Handshake's Early Talent Award (ETA) for the fifth consecutive year, distinguishing itself among over 900,000 employers on the platform.
The award recognizes excellence in four key areas:
- Brand resonance
- Effective engagement through unique clicks per message
- Active participation in career fairs
- Strong student relationships via reciprocal messaging
Jessica Somers, Granite Director of Talent Acquisition, and Tim Gruber, SVP of Human Resources, emphasized the company's commitment to developing early talent and maintaining a best-in-class college recruitment program. This recognition reinforces Granite's dedication to shaping the construction industry's future workforce.
Granite (NYSE:GVA) and Obayashi 's joint venture has secured a $97 million contract from the Naval Facilities Engineering Command (NAVFAC) for enhancing Battery Energy Storage System (BESS) capabilities at Polaris Point, Guam.
The Department of Defense-funded project involves constructing a 17,000 square foot facility to house battery energy storage and a microgrid controller. The BESS will integrate with the existing electrical grid to provide clean power to future Naval facilities.
The project will be included in Granite's first-quarter CAP. Construction is scheduled to begin March 20, 2025, with completion expected in June 2028.
Granite (NYSE:GVA) has secured a $66 million contract from Caltrans for reconstructing the Caldwell Avenue interchange on SR99 in Visalia, California. The project, funded by state and federal sources, will be included in Granite's first-quarter CAP.
The scope encompasses construction of two new precast girder bridges: a two-span structure over SR99 and a single-span structure over UPRR tracks. The project includes building 12 retaining walls and four new on/off ramps with roundabouts. Additionally, 216,000 cubic yards of import borrow will be used for embankment widening.
Construction is scheduled to begin in August 2025 and complete in Q2 2027. The project also includes drainage system upgrades, pavement delineation, roadside signage, and highway electrical improvements.
Granite Construction (NYSE: GVA) reported strong Q4 and fiscal year 2024 results. Q4 revenue increased 5% to $977 million, while fiscal year revenue grew 14% to $4.0 billion. Q4 net income reached $41 million ($0.84 per diluted share), with adjusted net income of $56 million ($1.23 per diluted share).
The Construction segment saw revenue growth of 3.5% in Q4 and 14.1% for the full year, with significant gross profit margin improvements. The Materials segment revenue increased 11.4% in Q4 and 14.6% for the year. The company's Committed and Awarded Projects (CAP) stood at $5.3 billion.
For 2025, Granite projects revenue between $4.2-4.4 billion, with adjusted EBITDA margin of 11.0-12.0%. The company plans capital expenditures of $140-160 million, including $50 million in strategic materials investments.
Granite (NYSE:GVA) has secured a $78 million infrastructure project from Caltrans in Orange County, California. The project focuses on demolishing and reconstructing a 320-foot-long concrete bridge to improve mobility in the State Route 55 and State Route 91 (SR 55/91) corridor. The scope includes building retaining walls, sound walls, and implementing both asphalt and concrete paving, along with upgrades to storm drainage and electrical systems.
This initiative is the first of three segmented projects aimed at reducing congestion in the SR 55/91 connector. The project will be funded through state and federal sources and included in Granite's first-quarter CAP. Construction is scheduled to begin in April 2025 and conclude in October 2027.
Granite (NYSE:GVA) announced that Pat Nelson, Regional Vice President and President of Lehman-Roberts Company, has been elected as the National Asphalt Pavement Association's (NAPA) 2025 Chairman of the Board. Nelson took the Oath of Office at NAPA's Annual Meeting on February 3.
Nelson's involvement with NAPA spans two decades, including eight years of Board service, 18 years on the Legislative Committee, and participation in the Political Action Committee (PAC) since 2008. During his chairmanship, he will focus on promoting renewed federal investment for highways and resources for asphalt-specific issues through NAPA's PAC.
Lehman-Roberts, a Granite Company, was a founding member of NAPA 70 years ago. The appointment strengthens Granite's position in industry advocacy and infrastructure development initiatives.
Granite Construction (NYSE: GVA) has scheduled its Q4 2024 financial results release for Thursday, February 13, 2025, before market opens. The company will host an investor conference call at 8:00 a.m. PT on the same day.
Investors can access the live audio webcast through Granite's Investor Relations website at investor.graniteconstruction.com. Alternatively, they can join via phone at 1-877-328-5503 (domestic) or 1-412-317-5472 (international).
A webcast archive will be available approximately one hour after the call on the company's Investor Relations website. A replay will be accessible through February 20, 2025, by calling 1-877-344-7529 (domestic) or 1-412-317-0088 (international) with replay access code 7965862.
Granite (NYSE:GVA) has secured an $88 million contract from the California Department of Transportation (Caltrans) for enhancing the Ortega Highway State Route 74. The project encompasses widening shoulders and roadway, installing centerline and edge line rumble strips, and resurfacing the highway to improve safety on this narrow two-lane mountainous route.
The project will be funded through state and federal sources and included in Granite's first-quarter CAP. Construction is scheduled to begin in April 2025 and conclude in November 2026. This project represents a continuation of Granite's ongoing work in the region, supporting their strategic expansion in Southern California's Inland Empire.
Granite (NYSE:GVA) has secured a $71 million contract from the United States Army Corps of Engineers for expanding and modernizing the rail yard at Fort Bliss in El Paso, Texas. The project, included in Granite's 2024 third-quarter CAP, will involve adding new loading spurs, expanding the vehicle staging area, and creating a secondary connection to the Union Pacific Railroad.
The improvements aim to increase the rail yard's capacity, enhance operational efficiencies, and reduce rail loading timelines. Construction is scheduled to commence in February 2025 and reach completion in June 2027. The project represents a strategic collaboration between Granite's Federal Division and Regions, offering growth opportunities for regional employees while expanding the company's presence in West Texas.
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