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 Construction reported a net loss from continuing operations of $(2) million for Q2 2022, down from a profit of $25 million in the same quarter last year. Revenue fell by $67 million to $768 million, with a gross profit margin decrease from 11.8% to 10.2%. The company’s Committed and Awarded Projects (CAP) rose to $4.2 billion, up $279 million sequentially. Significant investments were made in construction materials and an amended credit facility was secured. Adjusted EBITDA decreased to $39 million, while cash reserves fell to $242 million, down $146 million year-over-year.
Granite (NYSE:GVA) has secured a $40 million contract for enhancements to State Highway 288 in the Houston Metro Area. This project aims to improve connectivity and access to the Texas Medical Center, funded by TxDOT. The initial phase spans 1 mile and includes a new overpass and additional lanes, benefiting commuters by reducing congestion. The project will begin in Q4 2022 and is set for completion in early 2024. This contract marks the first in a series of four planned improvements for the SH 288 corridor.
Granite Construction Incorporated (NYSE: GVA) will announce its second quarter financial results on July 28, 2022, before the market opens. An investor conference call is scheduled for 8:00 a.m. PT on the same day. Investors can access the live audio webcast on Granite's Investor Relations website, with a replay available until August 4, 2022. Granite, a leading diversified construction company in the U.S., prides itself on strong ethical standards, safety, and sustainability initiatives.
Granite (NYSE:GVA) has secured a $55 million contract for the Knik-Goose Bay Road Reconstruction Phase 1 project in Wasilla, Alaska, awarded by the Alaska Department of Transportation and Public Facilities. The federal government will fund this project aimed at reducing congestion and enhancing safety. The reconstruction will widen four miles of Knik Goose Bay Road to a four-lane divided highway, with improvements including drainage, signalization, and pathways. The project is set to commence in August 2022 and conclude in Q3 2024, contributing positively to Granite's second quarter CAP.
Granite (NYSE:GVA) received the Early Talent Award from Handshake on June 14, marking its second consecutive win. The awards recognize employers excelling in engaging Gen Z talent, assessing criteria such as brand resonance, engagement, event participation, and student-employer relationships. Jessica Somers, talent acquisition manager, emphasized the company’s commitment to nurturing early talent through learning opportunities and internships. Tim Gruber, senior vice president of human resources, highlighted their successful college recruitment programs aimed at fostering diversity and inclusion in the workforce.
Granite (NYSE:GVA) has secured two significant contracts totaling approximately
Granite Construction (NYSE:GVA) announced the acquisition of a liquid asphalt terminal in Bakersfield, California, from its subsidiary Centennial Asphalt Company. The terminal, with a capacity of 170,000 barrels, will enhance Granite's Home Market Strategy by providing greater access to high-quality polymer modified asphalt and emulsions. This strategic facility supports the expansion into sustainable products, including asphalt modified with recycled materials, leveraging its central location and flexibility in transportation options.
Granite (NYSE:GVA) has secured a $13 million contract for the Richardson Highway MP 40-51 Resurfacing project in Alaska, awarded by the Alaska Department of Transportation. The project involves 11 miles of grinding and paving, along with additional improvements such as culvert replacement and bridge repairs. Anticipated to start in July 2022 and complete by July 2023, this project enhances Granite's relationship with the DOT and showcases its capabilities in infrastructure development.
Granite Construction Incorporated (NYSE: GVA) has declared a quarterly cash dividend of $0.13 per common share, payable on July 15, 2022 to shareholders on record by June 30, 2022. Founded in 1922, Granite is a leading diversified construction and materials company in the U.S., recognized for its commitment to safety, quality, and sustainability. The dividend reflects the company's ongoing dedication to returning value to its shareholders while upholding ethical standards within the industry.
Granite (NYSE:GVA) has secured a $15 million contract from the Santa Clara Valley Water District for restoration work on Calabazas Creek in Cupertino, California. This project aims to enhance flood control by addressing earthen channel failures along 4,500 linear feet of streambed affecting residential properties. The construction will involve extensive channel excavation, rock slope protection, and steel sheet piling. Anticipated project start is July 2022, with completion expected by December 2023.