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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.
H.B. Fuller Company (NYSE: FUL) announced the appointment of Celeste Mastin as the new President and CEO, effective
Granite (NYSE:GVA) has secured two construction contracts totaling approximately $107 million for projects on State Highway 288 near Houston, Texas. These contracts, funded by the Texas Department of Transportation, expand Granite's total project value on SH 288 to over $145 million when combined with an earlier $40 million contract. The projects will cover 24 lane miles of highway, including the construction of five new bridges and improvements to ramps. Construction is expected to start in fall 2022 and be completed by summer 2024.
Granite Construction (NYSE:GVA) has decided to retain its Water Resources and Mineral Services businesses due to unfavorable market conditions preventing a satisfactory sale. These segments will now be included in continuing operations, with their financials to be reported accordingly. CEO Kyle Larkin expressed optimism about the strong market demand and the potential for these businesses to enhance shareholder value and EBITDA margins. Notably, Granite returned value to shareholders by repurchasing over 2.3 million shares in 2022 and maintaining strong liquidity.
Granite Construction (NYSE: GVA) has declared a quarterly cash dividend of $0.13 per common share, payable on October 14, 2022. Shareholders of record at the close of business on September 30, 2022 will receive this dividend. Established in 1922, Granite is a leading diversified construction company in the U.S., renowned for its commitment to quality, safety, and sustainability.
Granite (NYSE:GVA) has secured a $17 million construction contract from the Placer County Water Agency for upgrades at the Duncan Creek Diversion Dam in California. This project is part of a broader effort to enhance older dams in the Sierra Nevada region, ensuring compliance with modern safety standards set by the California Department of Water Resources. Key updates include a new pneumatic gate structure, improved fish passage capabilities, and the installation of micro-hydropower units. The project is set to start in Q4 2022 and aims for completion by 2024.
Granite (NYSE:GVA) has secured a construction contract worth approximately
Granite (NYSE:GVA) has become the exclusive distributor of EZ STREET® Asphalt in California, enhancing its product line with this premium cold asphalt aimed at reducing carbon emissions. EZ STREET® is known for its ability to permanently repair potholes and other asphalt issues, and its 'bioblends' mixture utilizes green fuel substitutes and recycled materials, aligning with Granite's sustainability goals. This strategic partnership is set to bolster Granite's customer base and environmental initiatives across California.
Granite (NYSE:GVA) has joined The Road Forward, an initiative by the National Asphalt Pavement Association (NAPA) aiming for net zero carbon emission asphalt pavements by 2050. Granite demonstrates its commitment to sustainability by participating in this initiative, which will guide the asphalt industry in addressing climate change. The company has received various accolades for its sustainability efforts, including 20 NAPA Diamond Achievement Sustainable Commendations and 26 NAPA Quality in Construction Awards in 2021. Additionally, Granite has set a target to reduce greenhouse gas emissions by 25% by 2030.
Granite (NYSE:GVA) has secured a contract valued at approximately
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