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Granite Construction Inc. (NYSE: GVA) is a renowned leader in the construction industry, offering comprehensive infrastructure and heavy civil construction services since its establishment in 1922. Headquartered in Watsonville, California, Granite serves a diverse range of clients, including private entities and local, state, and federal agencies.
The company excels in various sectors, including mining, earthwork, water/sewer, power, tunneling, rail, highway, and bridge construction. Over the years, Granite has become an industry pioneer in alternative project delivery methods such as design-build, CMAR/CMGC, and best value. By fostering genuine partnerships with both project owners and designers, Granite ensures cohesive and successful project teams.
On an annual basis, Granite engages in approximately $800 million worth of alternative project delivery method (APDM) projects and has successfully completed over $12 billion in alternative procurement projects in the last decade. The company’s commitment to excellence is reflected in its award-winning infrastructure projects and its continued innovation in project delivery.
Granite's core operations are divided into two main segments: Construction and Materials. The Construction segment is the primary revenue driver, focusing on heavy civil infrastructure projects such as roads, highways, transit facilities, airports, and bridges. Additionally, Granite provides site preparation and infrastructure services for residential and energy development projects.
Despite the competitive landscape, Granite’s strategic partnerships and innovative project delivery approaches set it apart from its peers. The company is actively involved in numerous high-profile projects and is continually expanding its portfolio to include cutting-edge infrastructure solutions.
For those seeking detailed, up-to-date information about Granite Construction Inc.'s performance and latest projects, StockTitan offers a comprehensive resource. From financial health to project updates, StockTitan keeps stakeholders informed about all major developments concerning Granite Construction Inc.
Granite (NYSE:GVA) has secured a contract worth approximately $174 million from the City of Los Angeles and LAWA to improve runway operations at LAX. This project involves the construction of four new exit taxiways and the rehabilitation of existing runways, expected to begin in January 2023 and complete by April 2025. Funding will come from LAWA’s Capital Improvement Plan and the FAA. The project aims to increase safety and operational efficiency, with Granite recycling about 85,000 tons of materials and batching 85,000 cubic yards of concrete on-site.
Granite Construction Incorporated (NYSE: GVA) has declared a quarterly cash dividend of $0.13 per common share, payable on January 13, 2022, to shareholders on record as of December 30, 2022. This decision reflects Granite's commitment to returning value to its shareholders while maintaining strong ethical standards and industry leadership in safety and sustainability.
Granite (NYSE:GVA) has secured a $14 million traffic flow improvement project in Santa Barbara, CA, awarded by Caltrans. This project, part of a larger suite, involves constructing two roundabouts aimed at enhancing traffic flow in Montecito's lower village. The project will be funded by the Regional Surface Transportation Program and is expected to be completed by December 2023. Granite's Gardner Facility will provide approximately 2,500 tons of hot mix asphalt, with all removed pavement recycled for future projects.
Granite (NYSE:GVA) President and CEO Kyle Larkin has been appointed to the Board of Directors of the National Asphalt Pavement Association (NAPA) starting in 2023. Larkin's initial meeting will be at NAPA's annual gathering in Miami, Florida in February. NAPA, founded in 1955, advocates for asphalt producers and contractors through lobbying, collaboration, and research to enhance asphalt quality. Larkin expressed his honor in joining NAPA, emphasizing the organization's pivotal role in the industry.
Granite (GVA) Executive Vice President and COO Jim Radich has been appointed to the Board of Directors of the American Road & Transportation Builders Association (ARTBA). This organization, with over 8,000 members, advocates for transportation infrastructure investment. Radich's expertise is expected to aid the industry in implementing the recent federal infrastructure package. Granite, established in 1922, is a leader in civil construction and committed to ethical standards and sustainability.
Granite (NYSE:GVA) has been awarded the 2022 ConocoPhillips Excellence in Safety Award for its Alaska Region, recognizing its commitment to construction safety. This prestigious award, given by the Associated General Contractors of Alaska, emphasizes Granite's dedication to safety, workforce training, and innovative practices. The company previously won this award in 2021, showcasing its ongoing commitment to maintaining high safety standards. Granite celebrates its centennial year as a leading diversified construction firm in the U.S., highlighting its focus on integrity and quality.
Granite (NYSE:GVA) has secured a $15 million contract from the Arizona Department of Transportation for pavement rehabilitation and bridge deck repair on Interstate 10 in Tucson, Arizona. Funded by the Federal Highway Administration and ADOT, the project spans nearly 10 miles and involves various improvements including asphalt removal, guardrail construction, and highway lighting installation. Scheduled to start in December 2022 and conclude by August 2023, this initiative continues Granite's long-standing partnership with ADOT, enhancing their operational portfolio.
Granite (NYSE:GVA) has been awarded a $170 million reconstruction project for Interstate 10 in Tucson, Arizona, by the Arizona Department of Transportation. The project is set to improve roadway capacity with four general purpose lanes and enhance safety for commuters. It combines ADOT's widening and Pima County's Sunset Road extension into one initiative, beginning in January 2023 and completing in October 2025. Granite will utilize sustainable practices, repurposing nearly all demolition materials.
Granite (NYSE:GVA) has secured a $50 million contract for the American River Bridge Rehabilitation by the California Department of Transportation. The project, part of a larger CM/GC initiative, began in June and will replace the bridge deck and widen the structure, completing by December 2025. Two prior child contracts worth $20 million were executed for preliminary works. This project aims to enhance transportation infrastructure and includes a bike path for multimodal connectivity.
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