Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. The company operates through Transportation, Water, Specialty, and Materials segments. The Transportation segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, and marine ports. The Water segment focuses on water-related construction and water management solutions, as well as provides trenchless cured-in-place pipe and storm water rehabilitation services. The Specialty segment constructs various complex projects, including infrastructure/site development, mining, public safety, tunnel, and power projects; and undertakes bid-build, design-build, and construction management/general contractor contracts. The Materials segment focuses on production of aggregates, asphalt, and construction related materials, as well as sanitary and storm water rehabilitation products, such as cured-in-place pipe felt and fiberglass-based lining tubes. The company also engages in the construction of streets, highways, mass transit facilities, trenchless and underground utilities, well drilling, dams, and other infrastructure-related projects. In addition, it performs site preparation, mining, and infrastructure services for residential development, energy development, commercial and industrial sites, and other facilities; and provides construction management professional services. The company serves federal agencies, state departments of transportation, local transit authorities, county and city public works departments, school districts and developers, utilities, contractors, landscapers, manufacturers of products requiring aggregate materials, retailers, homeowners, farmers, brokers, and private owners of industrial, commercial, and residential sites. Granite Construction Incorporated was founded in 1922 and is headquartered in Watsonville, California.
IPO Year:
Exchange: NYSE
Website: graniteconstruction.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/28/2026 | $170.00 | Outperform | Oppenheimer |
| 11/24/2025 | $109.00 | Neutral | Goldman |
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Oppenheimer initiated coverage of Granite Constr with a rating of Outperform and set a new price target of $170.00
Goldman initiated coverage of Granite Constr with a rating of Neutral and set a new price target of $109.00
DA Davidson upgraded Granite Constr from Neutral to Buy and set a new price target of $55.00 from $35.00 previously
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Granite (NYSE:GVA) announced it has been awarded an approximately $19 million Progressive Design-Build (PDB) Guaranteed Maximum Price (GMP) 1 for the Tahoe Cedars Water System Replacement Project by the Tahoe City Public Utility District (TCPUD). The Tahoe Cedars Water System Replacement Project, located on the west shore of Lake Tahoe, California, will modernize critical infrastructure serving the Tahoe Cedars community by replacing aging pipelines and system components that have operated beyond their intended service life. Key components include: Installation of 15,000 linear feet of new water mains Relocation of 200+ existing service lines Installation of 29 fire hydrants to
Granite (NYSE:GVA) announced today that it has been awarded the All American Boulevard Construction and Kennedy Boulevard Widening project by Orange County, Florida. The project will deliver critical roadway and intersection improvements aimed at easing congestion and improving traffic flow in a busy commercial corridor. The contract value is approximately $41 million and will be included in Granite's second quarter 2026 CAP. The scope of work includes construction of a new alignment for All American Boulevard, featuring a new intersection at Clarcona Ocoee Road and Edgewater Drive. Additional scope includes widening along Kennedy Boulevard and improvements to the Kennedy Boulevard and Fo
Granite Construction Incorporated (NYSE:GVA) ("Granite") today announced that it has called all of its outstanding 3.75% Convertible Senior Notes due 2028 (the "2028 Notes") (CUSIP No. 387328 AD9) for redemption on August 10, 2026 (the "Redemption Date"). The redemption price will be an amount in cash equal to 100% of the principal amount of each 2028 Note called for redemption, plus accrued and unpaid interest on such 2028 Note to, but excluding, the Redemption Date (the "Redemption Price"). To receive payment of the Redemption Price, any certificated 2028 Notes and any other required documents must be surrendered to Wilmington Trust, National Association, as paying agent, on or prior
Granite Construction Incorporated (NYSE:GVA) ("Granite") announced today that it has priced its previously announced offering of $600.0 million aggregate principal amount of 6.375% senior notes due 2034 (the "Notes") in a private offering that is exempt from the registration requirements of the Securities Act of 1933 (the "Securities Act"). The Notes will be guaranteed by each of Granite's existing and future domestic subsidiaries that is a borrower or guarantor under Granite's existing credit facility, subject to certain exceptions. The consummation of the offering of the Notes is expected to be completed on June 2, 2026, subject to customary closing conditions. Granite intends to use th
Granite Construction Incorporated (NYSE:GVA) ("Granite") announced today that it plans to offer $600.0 million aggregate principal amount of senior notes due 2034 (the "Notes") in a private offering that is exempt from the registration requirements of the Securities Act of 1933 (the "Securities Act"). The Notes will be guaranteed on an unsecured basis by each of Granite's existing and future domestic subsidiaries that is a borrower or a guarantor under Granite's existing credit facility, subject to certain exceptions. The terms, pricing and consummation of the offering of Notes are subject to market and other customary closing conditions. Granite intends to use the net proceeds from the o
Granite (NYSE:GVA) announced today that it has been awarded the Parks Highway MP 315–325 Reconstruction (Construction MP 322–325) project by the Alaska Department of Transportation and Public Facilities. Located near Nenana, Alaska, the project is the second of two phases of the Parks Highway MP 319–325 CM/GC program that Granite has been delivering since 2022. The contract value is approximately $32 million. Work includes approximately 1.2 million cubic yards of excavation and embankment and 22,000 tons of asphalt, supplied by Granite utilizing a portable crusher and asphalt plant. Through the CM/GC delivery process, Granite collaborated with Owner and Design teams to develop an efficien
Granite (NYSE:GVA) announced today that it has been awarded the Glenn Highway MP 66.5 to 92 Pavement Preservation project by the Alaska Department of Transportation and Public Facilities. The approximately $15M contract is federally funded and was included in Granite's first quarter 2026 CAP. Glenn Highway travels 179 miles from Anchorage to Glennallen. A National Scenic Byway, the road provides access to stunning landscapes and a wealth of outdoor activities. Granite's scope of work includes resurfacing the highway from milepost 83 to 92. Additionally, the project will replace culverts, guardrail, striping, and signage along the length of the project. "This contract is a great win for
Q1 revenue increased 30% year-over-year to $912 million Q1 net loss of $42 million compared to a net loss of $34 million for the same period in the prior year and adjusted net income (1) of $12 million compared to adjusted net income of $0.2 million for the same period in the prior year Q1 diluted EPS of $(0.96) compared to diluted EPS of $(0.77) for the same period in the prior year and adjusted diluted EPS (1) of $0.26 compared to adjusted diluted EPS of $0.01 for the same period in the prior year Q1 adjusted EBITDA (1) increased 106% year-over-year to $58 million Committed and Awarded Projects ("CAP") (2) increased sequentially $200 million to $7.2 billion Completed the a
On Wednesday, April 29, Granite (NYSE:GVA) published its 2025 Sustainability Report, highlighting the company's efforts to create enduring value through social responsibility, environmental stewardship, and dependable governance. "Granite's mission is to provide infrastructure solutions that support more prosperous and resilient communities," said Granite President and Chief Executive Officer Kyle Larkin. "Sustainability is central to this mission. Our leadership in sustainability supports the successful execution of our business strategies and drives value creation." Granite aligns its reporting with standard sustainability reporting frameworks, selecting industry-specific metrics that a
Granite (NYSE:GVA) today announced that it has completed the acquisition of Kenny Seng Construction, strengthening Granite's vertically-integrated construction and construction materials platform in Utah. Acquisition Highlights Expands Granite's vertically-integrated home market in Utah, enhancing its construction and materials presence in a high-growth region. Adds end-to-end construction capabilities, including earthwork and site preparation, concrete work, utility installation, project management, aggregate production and materials processing, and transportation. Provides exposure to resilient end markets including revenue from education infrastructure, civil infrastructure, a
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Live Leadership Updates
Granite (NYSE:GVA) announced today the appointment of J. Timothy Romer to its Board of Directors, effective September 8, 2025. With nearly four decades of experience in finance and infrastructure, Mr. Romer brings a wealth of expertise to support Granite's strategic growth initiatives. Mr. Romer's distinguished career includes leadership roles at top-tier financial institutions. Mr. Romer spent 30 years in senior roles at Goldman Sachs and Merrill Lynch, leading the Western Region Public Sector and Infrastructure Investment Banking groups, respectively. He later worked as a partner with Foundation Credit, where he was instrumental in launching the firm's infrastructure debt strategy focus
Granite (NYSE:GVA) announced today that District Vice President Ian Firth has been appointed to the National Asphalt Pavement Association's (NAPA) Advisory Council West Region as an at large member. NAPA is the only national trade association representing the asphalt industry and works to advance the asphalt pavement industry through leadership, training, and advocacy. This includes supporting member companies on issues including engineering, health and safety, workforce development, and more. The Advisory Council is charged with enhancing advocacy for the asphalt industry and supporting the active engagement of all the member companies. The regional structure of the council ensures repre
Acquisition expands Granite's footprint and creates a new platform for growth in the attractive greater Memphis metropolitan market Revising 2024 financial targets to reflect the acquisition Granite Construction Incorporated (NYSE:GVA) today announced the acquisition of Lehman-Roberts Company ("LRC") and Memphis Stone & Gravel Company ("MSG"), longstanding asphalt paving and asphalt and aggregates producers and suppliers. This acquisition expands Granite's footprint and creates a new growth platform for Granite in the attractive Memphis metropolitan market. LRC operates seven strategically located asphalt plants serving the greater Memphis area and northern Mississippi. MSG operates
WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite’s (NYSE:GVA) board of directors has appointed three new directors and has elected Michael F. McNally as its new board chair. Mr. McNally has served on the board since 2016. The board also promoted Kyle T. Larkin to president and chief executive officer. At the conclusion of Granite’s Annual Meeting of Shareholders held on June 2, 2021, former board chair, Claes G. Bjork, retired from the board. Louis E. Caldera, former United States Secretary of the Army, Laurie M. Mullen, retired partner at KPMG LLP, and Kyle T. Larkin have joined Granite’s board of directors, effective Thursday, June 3, 2021. These appointments and retirement will i
WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) announced three top executive appointments to expand profitable growth, drive innovation to transform its business, and strengthen its culture: Jigisha Desai is chief strategy officer, Lisa Curtis is chief financial officer, and Tim Gruber is senior vice president, human resources. “Granite has begun to transform its business and culture which includes reshaping our strategy to expand profitable growth and create value. With the appointment of these three leaders, we are taking steps to clearly define our strategic path and to capitalize on technology and innovation in the infrastructure and materials markets while making sur
Live finance-specific insights
Q1 revenue increased 30% year-over-year to $912 million Q1 net loss of $42 million compared to a net loss of $34 million for the same period in the prior year and adjusted net income (1) of $12 million compared to adjusted net income of $0.2 million for the same period in the prior year Q1 diluted EPS of $(0.96) compared to diluted EPS of $(0.77) for the same period in the prior year and adjusted diluted EPS (1) of $0.26 compared to adjusted diluted EPS of $0.01 for the same period in the prior year Q1 adjusted EBITDA (1) increased 106% year-over-year to $58 million Committed and Awarded Projects ("CAP") (2) increased sequentially $200 million to $7.2 billion Completed the a
Granite (NYSE:GVA) today announced that it has completed the acquisition of Kenny Seng Construction, strengthening Granite's vertically-integrated construction and construction materials platform in Utah. Acquisition Highlights Expands Granite's vertically-integrated home market in Utah, enhancing its construction and materials presence in a high-growth region. Adds end-to-end construction capabilities, including earthwork and site preparation, concrete work, utility installation, project management, aggregate production and materials processing, and transportation. Provides exposure to resilient end markets including revenue from education infrastructure, civil infrastructure, a
Granite (NYSE:GVA) will release financial results for the quarter ended March 31, 2026, before market opens on Thursday, April 30, 2026. The Company will host an investor conference call at 8:00 a.m. PT, Thursday, April 30, 2026. The Company invites investors to listen to a live audio webcast of the investor conference call on its Investor Relations website, investor.graniteconstruction.com. The investor conference call will also be available by calling 1-877-328-5503; international callers may dial 1-412-317-5472. An archive of the webcast will be available on Granite's Investor Relations website approximately one hour after the call. A replay will be available after the live call throug
Granite (NYSE:GVA) today announced that its Board of Directors has declared a quarterly cash dividend of $0.13 per common share. The dividend is payable on April 15, 2026, to all shareholders of record at the close of business on March 31, 2026. About Granite Granite is America's Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite's Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning
Committed and Awarded Projects ("CAP") (1) increased 32% year-over-year to $7.0 billion, a new record Q4 revenue increased 19% year-over-year to $1.2 billion, and fiscal year revenue increased 10% year-over-year to $4.4 billion Q4 net income and adjusted net income (2) increased 25% and 17% year-over-year to $52 million and $65 million, respectively, and fiscal year net income and adjusted net income increased 53% and 29% year-over-year to $193 million and $276 million, respectively Q4 diluted EPS and adjusted diluted EPS (2) increased 23% and 14% year-over-year to $1.03 and $1.40, respectively, and fiscal year diluted EPS and adjusted diluted EPS increased 47% and 26% year-over-y
Granite (NYSE:GVA) will release financial results for the quarter and fiscal year ended December 31, 2025, before market opens on Thursday, February 12, 2026. The Company will host an investor conference call at 8:00 a.m. PT, Thursday, February 12, 2026. The Company invites investors to listen to a live audio webcast of the investor conference call on its Investor Relations website, investor.graniteconstruction.com. The investor conference call will also be available by calling 1-877-328-5503; international callers may dial 1-412-317-5472. An archive of the webcast will be available on Granite's Investor Relations website approximately one hour after the call. A replay will be available a
Granite (NYSE:GVA) today announced that its Board of Directors has declared a quarterly cash dividend of $0.13 per common share. The dividend is payable on January 15, 2026, to all shareholders of record at the close of business on December 31, 2025. About Granite Granite is America's Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite's Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winni
Record Committed and Awarded Projects ("CAP") (1) increased sequentially $273 million to $6.3 billion Q3 revenue increased 12% year-over-year to $1.43 billion Q3 net income increased 30% year-over-year to $103 million and adjusted net income (2) increased 36% year-over-year to $124 million Q3 diluted EPS increased 26% year-over-year to $1.98 and adjusted diluted EPS (2) increased 32% year-over-year to $2.70 Q3 adjusted EBITDA (2) increased 44% year-over-year to $216 million Granite (NYSE:GVA) today announced results for the quarter ended September 30, 2025. Third Quarter 2025 Results Net income attributable to Granite totaled $103 million, or $1.98 per diluted share, compared t
Granite (NYSE:GVA) will release financial results for the quarter ended September 30, 2025, before market opens on Thursday, November 6, 2025. The Company will host an investor conference call at 8:00 a.m. PT, Thursday, November 6, 2025. The Company invites investors to listen to a live audio webcast of the investor conference call on its Investor Relations website, investor.graniteconstruction.com. The investor conference call will also be available by calling 1-877-328-5503; international callers may dial 1-412-317-5472. An archive of the webcast will be available on Granite's Investor Relations website approximately one hour after the call. A replay will be available after the live cal
Acquisition strengthens vertically integrated home market Acquisition increases Granite's materials reserves adding approximately 100 million tons of aggregate resources and an annual production volume of approximately 975,000 tons Acquisition is complementary to Granite's existing operations in northern Nevada A Granite (NYSE:GVA) subsidiary, Centennial Aggregate Inc. has acquired Cinderlite Trucking Corporation ("Cinderlite"), a leading construction materials, landscape supply, and transportation company in Carson City, Nevada. "I am happy to announce the acquisition of Cinderlite," says Granite President and CEO, Kyle Larkin. "It is a great construction materials business
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