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Granite Construction Inc. - GVA STOCK NEWS

Welcome to our dedicated page for Granite Construction news (Ticker: GVA), a resource for investors and traders seeking the latest updates and insights on Granite Construction stock.

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.

News

NAPA Recognizes Granite Construction With 97 Awards and Commendations

Rhea-AI Summary
Granite (GVA) receives 97 awards and commendations from NAPA, including the Larry H. Lemon Quality in Construction Award and Community Involvement Award. Newly acquired Lehman-Roberts also received recognition. Granite was awarded 64 Diamond Commendations and 32 Quality in Construction Awards for asphalt paving projects.
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Granite Reports Fourth Quarter and FY 2023 Results

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Granite Construction Incorporated (GVA) reported strong Q4 results with an 18% revenue increase to $934 million and adjusted diluted EPS of $0.82. Operating cash flow rose by $150 million sequentially, and CAP reached $5.5 billion. Fiscal year 2023 saw revenue grow to $3.5 billion, with adjusted net income of $140 million. Despite positive results, challenges from legacy projects impacted gross profit margin.
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Granite Awarded Final Construction Option in Denali National Park

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Granite (GVA) completes preconstruction services and secures $112 million construction option for Polychrome Area Improvements project in Denali National Park, Alaska, totaling $207,791,533. The project involves building a steel truss bridge to connect the western half of the park cut off by a landslide since 2021.
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Granite’s Grant Road Widening Project Aims to Improve Traffic Flow and Safety in Tucson

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Granite (NYSE:GVA) has secured a $55 million contract by the City of Tucson to widen Grant Road. The project will include various infrastructure improvements and is expected to be completed by December 2026.
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Granite Announces Timing of Earnings Release and Investor Conference Call

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Granite Construction Incorporated (NYSE: GVA) will release financial results for the quarter and fiscal year ended December 31, 2023, before market opens on Thursday, February 22, 2024. The Company will host an investor conference call at 8:00 a.m. PT, Thursday, February 22, 2024. Investors can listen to a live audio webcast of the investor conference call on its Investor Relations website, investor.graniteconstruction.com. An archive of the webcast will be available on Granite’s Investor Relations website. A replay will be available after the live call through February 29, 2024.
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Granite Unveils State-of-the-Art Aggregate Plant

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Granite (NYSE:GVA) has completed its first fully automated aggregate plant in Tucson, Arizona, showcasing the company's commitment to technological advancement and sustainable production practices. The Swan plant, which commenced construction in May 2023, demonstrates Granite's dedication to leveraging automation to improve operations and overcome workforce challenges. This investment allows Granite to produce aggregates cost-effectively while minimizing the need for night and weekend shifts. The company's enhanced production capabilities and operational flexibility position it as an industry leader, ready to meet the evolving demands of the market.
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Granite Recognized as One of Newsweek’s America’s Most Responsible Companies

Rhea-AI Summary
Granite (GVA) has been recognized by Newsweek as one of America’s Most Responsible Companies in 2024. The company ranked 56th overall out of 600 companies and fifth in its industry. The analysis focused on the top 2000 public companies by revenue and banks and insurance companies with total assets exceeding $50 billion. The ranking considers all three pillars of ESG: Environment, Social, and Corporate Governance, based on KPI research and a public survey. Granite CEO, Kyle Larkin, expressed gratitude for the recognition, highlighting the company's commitment to positive change and responsible leadership.
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Granite Declares Quarterly Dividend

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Granite Construction Incorporated (NYSE: GVA) declares a quarterly cash dividend of $0.13 per common share
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Granite and Veracio Aim to Revolutionize Mining Industry

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Granite (GVA) and Veracio Partner to Transform Drill Hole Data Analytics
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Granite Announces Acquisition of Lehman-Roberts Company and Memphis Stone & Gravel Company

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Granite Construction Incorporated (NYSE: GVA) has acquired Lehman-Roberts Company and Memphis Stone & Gravel Company, expanding its footprint in the greater Memphis metropolitan market. The acquisition is expected to increase the company's 2024 revenue target to a range of $3.8 billion to $4.0 billion. The acquisition was financed through a new term loan of $150 million, with the remainder funded through Granite's existing revolver and cash on hand.
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FAQ

What is the current stock price of Granite Construction (GVA)?

The current stock price of Granite Construction (GVA) is $99.29 as of November 22, 2024.

What is the market cap of Granite Construction (GVA)?

The market cap of Granite Construction (GVA) is approximately 4.3B.

What does Granite Construction Inc. do?

Granite Construction Inc. specializes in infrastructure and heavy civil construction services, including mining, earthwork, water/sewer, power, tunneling, rail, highway, and bridge construction.

Where is Granite Construction Inc. headquartered?

Granite Construction Inc. is headquartered in Watsonville, California.

What stock exchange is Granite Construction Inc. listed on?

Granite Construction Inc. is publicly traded on the New York Stock Exchange (NYSE) under the ticker symbol GVA.

What are the primary segments of Granite Construction Inc.?

Granite Construction Inc. operates primarily through its Construction and Materials segments.

How much does Granite engage in APDM projects annually?

Granite engages in approximately $800 million worth of alternative project delivery method (APDM) projects annually.

What is APDM?

APDM stands for Alternative Project Delivery Methods, which include design-build, CMAR/CMGC, and best value approaches to construction projects.

What types of projects does Granite Construction Inc. focus on?

Granite focuses on various infrastructure projects, including roads, highways, transit facilities, airports, bridges, and site preparation for residential and energy development.

How long has Granite Construction Inc. been in business?

Granite Construction Inc. has been in business since 1922.

How does Granite ensure project success?

Granite ensures project success by establishing true partnerships with both project owners and designers to guarantee a cohesive project team.

Where can I find job postings for Granite Construction Inc.?

All open positions available with Granite Construction Inc. and its subsidiary companies can be found at www.graniteconstruction.com/careers.

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Granite Construction Inc.

NYSE:GVA

GVA Rankings

#1415 Ranked by Market Cap
#2001 Ranked by Dividends

GVA Stock Data

4.32B
43.29M
0.97%
113.43%
9.71%
Engineering & Construction
Heavy Construction Other Than Bldg Const - Contractors
Link
United States of America
WATSONVILLE