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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

Granite's Alaska Region Wins 2023 ConocoPhillips Excellence in Safety Award through the AGC of Alaska

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Granite (NYSE:GVA) receives ConocoPhillips Excellence in Safety Award from AGC of Alaska, demonstrating commitment to safety and health. The award recognizes Granite's excellence in safety practices, including upper management commitment, worker training, active company-wide participation, and innovative safety practices.
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Granite’s Handley Ranch Quarry Recognized for Excellence in Safety with 2023 CalCIMA Award

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Granite (GVA) Receives 2023 CalCIMA Excellence in Safety Award for Handley Ranch Quarry
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Granite Joint Venture Continues to Win Contracts for Major Bridge Rehabilitation Project in Sacramento

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Granite (NYSE:GVA) has been awarded a $131 million contract by the California Department of Transportation for the American River Bridge Rehabilitation Construction Manager/General Contractor (CM/GC) project in Sacramento, California. The project includes the replacement of the existing bridge deck, protection of the abutments and piers from scour, and the construction of a multimodal connection between downtown and eastern Sacramento. The contract is part of Granite's second-quarter 2023 CAP and is expected to be completed in the first quarter of 2026.
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Granite Continues Airfield Safety Enhancement Program at Tucson International Airport

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Granite (NYSE:GVA) has been awarded a $12 million contract by the Tucson Airport Authority (TAA) for the Airfield Safety Enhancement Program at Tucson International Airport. The contract is part of a $130 million multi-year Construction Manager at Risk project. The majority of funding will come from the Federal Aviation Administration (FAA). Granite will handle the demolition of Runway 11R/29L and construct a new runway, 12/30. The scope of work includes demolition, earthwork, storm drain, and fencing.
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Granite Reports Third Quarter 2023 Results

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Granite Construction Incorporated (NYSE: GVA) reported Q3 revenue of $1.1 billion, an 11% increase YoY. The company's net income was $58 million, or $1.13 per diluted share, compared to $69 million, or $1.36 per diluted share, in the same period last year. Adjusted net income was $75 million, or $1.69 per diluted share, compared to $57 million, or $1.28 per diluted share, in the prior year. Operating cash flow increased by $153 million sequentially. The company's CAP reached a record of $5.6 billion, a sequential increase of $147 million and a YoY increase of $1.5 billion. The company's 2023 guidance and 2024 targets remain unchanged.
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Granite Construction to Participate in Investor Conferences

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Granite (NYSE: GVA) announces participation in investor events. Management to use presentation posted on website on November 10, 2023. Events include 2023 NYSE Virtual Investor Access Program for Industrials, UBS Industrials Summit, and Wolfe Research 1st Annual Small and Mid-Cap Conference.
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Granite Announces Timing of Earnings Release and Investor Conference Call

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Granite Construction to release Q3 financial results on October 31, 2023
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UDOT Selects Granite for SR-108 Widening and Improvements

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Granite awarded $45 million contract by Utah Department of Transportation for State Route 108 improvement project
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Granite’s CM/GC Work Continues in Denali National Park

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Granite (NYSE:GVA) has been awarded Options W.3A, W.3B, and W.4 for the Polychrome Area Improvements Construction Manager/General Contractor (CM/GC) project in Denali National Park in Alaska. These options have a combined value of $24,586,571, bringing the total value of awarded options and modifications to $95,634,019. The project involves the construction of a steel truss bridge, bridge abutments, and other improvements. The project is scheduled to be completed by July 2026.
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ENR Ranks Granite Number One in Highways for the Third Consecutive Year

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Granite ranks number one in the Highways market and number three in the Mining market in the 2023 Top Contractors Sourcebook by ENR magazine.
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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