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Granite Construction

Granite Construction Inc engages in the construction and development of various infrastructure projects on behalf of public and private clients in the United States. It focuses on heavy civil infrastructure projects, including roads, highways, transit facilities, airports, bridges, and other infrastructure projects. In addition, the company performs site preparation and infrastructure services for residential development, energy development, and other facilities. The majority of revenue is derived from the company's Construction operating segment, with the remainder derived from its Materials segment.

Granite Const

Granite Construction Incorporated Common Stock

Granite Construction Inc

Cambria Global Value ETF

Goldman Sachs analyst Jerry Revich maintains Granite Const (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GVA#NYSE">GVA</a>) with a Sell and raises the price target from $69 to $76.

News

Price Target

Analyst Ratings

Goldman Sachs Maintains Sell on Granite Const, Raises Price Target to $76

U.S. stock futures were higher this morning, with the Dow futures gaining around 300 points on Thursday.
Shares of QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) fell sharply in today's pre-market trading as the company reported <a href="https://in.benzinga.com/news/earnings/25/04/45115978/qualcomm-beats-q2-expectations-on-earnings-revenue-ceo-highlights-focus-on-critical-factors-we-can-control">second-quarter financial results</a>.
Qualcomm reported second-quarter revenue of $10.84 billion, up 15% year-over-year. The revenue total beat a Street consensus estimate of $10.65 billion, according to data from Benzinga Pro. The company reported second-quarter non-GAAP earnings per share of $2.85, up 17% year-over-year. The total beat a Street consensus estimate of $2.81.
Qualcomm is guiding for third-quarter revenue to come in a range of $9.9 billion to $10.7 billion. Analysts expect $10.35 billion, according to data from Benzinga Pro. Qualcomm is guiding for third-quarter earnings per share in a range of $2.60 to $2.80 versus an analyst estimate of $2.67.
Qualcomm shares dipped 5.3% to $140.57 in the pre-market trading session.
Here are some other stocks moving lower in pre-market trading.
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<li>Reservoir Media, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RSVR#NASDAQ">RSVR</a>) fell 13.2% to $6.51 in pre-market trading.</li>
<li>Confluent, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CFLT#NASDAQ">CFLT</a>) declined 10.3% to $21.35 in pre-market trading as the company reported first-quarter financial results.</li>
<li>Granite Construction Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GVA#NYSE">GVA</a>) dropped 10.2% to $73.01 in pre-market trading.</li>
<li>Pilgrim&#8217;s Pride Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPC#NASDAQ">PPC</a>) tumbled 6.5% to $51.01 in pre-market trading after the company reported worse-than-expected first-quarter financial results.</li>
<li>Inter &amp; Co, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTR#NASDAQ">INTR</a>) fell 4.5% to $6.32 in pre-market trading.</li>
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Pre-Market Outlook

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Trading Ideas

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Qualcomm, Confluent, Pilgrim's Pride And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

Granite Construction Stated That, Despite Macroeconomic Uncertainty, It Is Well Positioned To Achieve Its 2025 Guidance

Granite Const (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GVA#NYSE">GVA</a>) affirms FY2025 sales outlook from $4.20 billion-$4.40 billion to $4.20 billion-$4.40 billion vs $4.29 billion estimate.

Guidance

Granite Const Affirms FY2025 Sales Guidance of $4.20B-$4.40B vs $4.29B Est, Company Sees Adjusted EBITDA Margin In The Range Of 11.0%-12.0%

Granite Construction (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GVA#NYSE">GVA</a>) reported quarterly earnings of $0.01 per share. This is a 104.76 percent increase over losses of $(0.21) per share from the same period last year. The company reported quarterly sales of $699.55 million which missed the analyst consensus estimate of $706.15 million by 0.94 percent. This is a 4.06 percent increase over sales of $672.27 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Granite Construction Q1 Adj. EPS $0.01 Compared With $(0.21) YoY, Sales $699.55M Miss $706.15M Estimate

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Earnings Scheduled For May 1, 2025

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.graniteconstruction.com%2F&amp;esheet=54238628&amp;newsitemid=20250417221748&amp;lan=en-US&amp;anchor=Granite&amp;index=1&amp;md5=91684d33336fff5495a924b7c2de264f">Granite</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GVA#NYSE">GVA</a>) has been awarded an approximately $80 million contract by the Texas Department of Transportation (TxDOT) to upgrade a section of Farm to Market 548 (FM 548) near Forney, TX. Project funding is to come from state sources and will be included in Granite's first-quarter CAP.
This infrastructure project will transform the existing asphalt paved roadway from FM 548 north of US 80 to Windmill Farms Blvd into a concrete paved roadway, including additional travel lanes and drainage upgrades. Project improvements will provide increased traffic capacity to help relieve traffic in the rapidly growing City of Forney and surrounding Kaufman County, particularly through the busiest commercial area in the city.
The scope of the project includes over 200,000 square yards of 10" concrete pavement and over 40,000 linear feet of new storm drain.
Granite is excited to contribute to the growth and development of Forney and Kaufman County, enhancing the quality of life for residents and supporting the area's economic expansion.
Construction is expected to begin in July 2025 and be completed in March 2027.

Contracts

Granite Awarded About $80M Contract By TxDOT To Upgrade Section Of Farm To Market 548 Near Forney, TX

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Shares of machinery, electrical equipment and engineering companies are trading higher following President Trump's decision to implement a 90-day pause on reciprocal tariffs for all countries except China.

Granite Joint Venture Team Wins $97M Military Infrastructure Project In Guam

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.graniteconstruction.com%2F&amp;esheet=54220030&amp;newsitemid=20250306705161&amp;lan=en-US&amp;anchor=Granite&amp;index=1&amp;md5=4295ce6f11278328402d256db4898978">Granite</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GVA#NYSE">GVA</a>) has been awarded an approximately $66 million contract by the California Department of Transportation (Caltrans) for an infrastructure project that will enhance the Caldwell Avenue interchange located on SR99 in Visalia, California. Project funding comes from state and federal sources and will be included in Granite's first-quarter CAP.
The project scope includes the construction of two new precast girder bridges: a two-span structure over SR99 and a single-span structure over the UPRR tracks. Additionally, 12 new retaining walls will be built, featuring cast-in-place concrete, mechanically stabilized earth (MSE) walls, and soldier pile walls with timber lagging. To further enhance accessibility, four new on/off ramps will be constructed, with traffic being controlled by new roundabouts at each set of ramps.

Granite Awarded ~$66M Contract By The California Department Of Transportation For An Infrastructure Project That Will Enhance The Caldwell Avenue Interchange Located On Sr99 In Visalia, California

Granite Construction's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GVA#NYSE">GVA</a>) short percent of float has risen 7.0% since its last report. The company recently reported that it has 4.75 million shares sold short, which is 15.14% of all regular shares that are available for trading. Based on its trading volume, it would take traders 8.03 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Granite Construction Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1739907922_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Granite Construction has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Granite Construction's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Granite Construction's peer group average for short interest as a percentage of float is 5.11%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Granite Construction's Recent Short Interest

Outlook
Our guidance for 2025 is described below:
<ul>
<li>Revenue in the range of $4.2 billion to $4.4 billion</li>
<li>Adjusted EBITDA margin in the range of 11.0% to 12.0%</li>
<li>SG&amp;A expense of approximately 9.0% of revenue, inclusive of an estimated $45 million of stock-based compensation expense</li>
<li>Mid-20s effective tax rate for adjusted net income</li>
<li>Capital expenditures of approximately $140 million to $160 million</li>
</ul>

Granite Expects 2025 Revenue Of $4.2B-$4.4B Vs. $4.255B Consensus, And Sees Adjusted EBITDA Margin Of 11% -12%

Granite Construction (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GVA#NYSE">GVA</a>) reported quarterly earnings of $1.23 per share which missed the analyst consensus estimate of $1.27 by 3.15 percent. This is a 50 percent increase over earnings of $0.82 per share from the same period last year. The company reported quarterly sales of $977.303 million which beat the analyst consensus estimate of $949.864 million by 2.89 percent. This is a 4.67 percent increase over sales of $933.698 million the same period last year.

Granite Construction Q4 2024 Adj. EPS $1.23 Misses $1.27 Estimate, Sales $977.303M Beat $949.864M Estimate

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Earnings Scheduled For February 13, 2025

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.graniteconstruction.com%2F&amp;esheet=54201903&amp;newsitemid=20250211320584&amp;lan=en-US&amp;anchor=Granite&amp;index=1&amp;md5=2fc541d9ed5da3639137789dfd343b36">Granite </a>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GVA#NYSE">GVA</a>) has been awarded a $78 million infrastructure project by the California Department of Transportation (Caltrans) in Orange County, California. Project funding is to come from state and federal sources and will be included in Granite's first-quarter CAP.
The project is centered around the demolition and reconstruction of a 320-foot-long concrete bridge. This new bridge is designed to improve mobility throughout the State Route 55 and State Route 91 (SR 55/91) corridor by reducing weaving and merging between ramps, thereby enhancing traffic flow and safety.
In addition to the bridge work, the project will include the construction of retaining walls, sound walls, and both asphalt and concrete paving. The development will also see upgrades to the area's storm drainage and electrical systems, ensuring a modern, efficient, and sustainable infrastructure.
This is the first of three segmented projects aimed at improving the SR 55/91 connector and reducing congestion caused by the bottleneck through the SR 55 and SR 91 transition corridor.

Granite Awarded $78M Road Congestion Relief Project In Anaheim, California

Granite Has Been Awarded An ~$88M Contract By The California Department Of Transportation

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.graniteconstruction.com%2F&amp;esheet=54185065&amp;newsitemid=20250121253814&amp;lan=en-US&amp;anchor=Granite&amp;index=1&amp;md5=131075fbb55a0d2f4e36bacecaf3dd0d">Granite </a>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GVA#NYSE">GVA</a>) has been awarded an approximately $71 million contract by the United States Army Corps of Engineers to expand and update the rail yard at Fort Bliss in El Paso, TX. Project funding is to come from federal sources and was included in Granite's 2024 third-quarter CAP.
Granite's work will add new loading spurs, expand the vehicle staging area, and create a secondary connection from the rail yard to the Union Pacific Railroad. These improvements are designed to boost the rail yard's capacity, improve efficiencies, and reduce the timeline required for rail loading operations.

Granite Announces $71M Rail Yard Expansion Project At Fort Bliss, Texas From The United States Army Corps Of Engineers

Celeste B. Mastin, Board Member at Granite Construction (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GVA#NYSE">GVA</a>), executed a substantial insider sell on December 12, according to an SEC filing.
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0000861459/000112760224029274//Archives/edgar/data/861459/000112760224029274/0001127602-24-029274-index.htm">U.S. Securities and Exchange Commission</a> on Thursday showed that Mastin sold 5,435 shares of Granite Construction. The total transaction amounted to $529,586. 
In the Friday's morning session, Granite Construction's shares are currently trading at $95.03, experiencing a down of 0.51%.
<h3>About Granite Construction</h3>
Granite Construction Inc engages in the construction and development of various infrastructure projects on behalf of public and private clients in the United States. It focuses on heavy civil infrastructure projects, including roads, highways, transit facilities, airports, bridges and other infrastructure projects. In addition, the company performs site preparation and infrastructure services for residential development, energy development, and other facilities. The majority of revenue is derived from the company's Construction operating segment, with the remainder derived from its Materials segment.
<h3>Granite Construction's Financial Performance</h3>
Revenue Growth: Granite Construction's remarkable performance in 3 months is evident. As of 30 September, 2024, the company achieved an impressive revenue growth rate of 14.21%. This signifies a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Industrials sector.
Interpreting Earnings Metrics:
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<li>
Gross Margin: The company faces challenges with a low gross margin of 15.91%, suggesting potential difficulties in cost control and profitability compared to its peers.
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Earnings per Share (EPS): Granite Construction's EPS is significantly higher than the industry average. The company demonstrates a robust bottom-line performance with a current EPS of 1.81.
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Debt Management: With a high debt-to-equity ratio of 0.82, Granite Construction faces challenges in effectively managing its debt levels, indicating potential financial strain.
Valuation Analysis:
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Price to Earnings (P/E) Ratio: Granite Construction's P/E ratio of 40.47 is below the industry average, suggesting the stock may be undervalued.
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Price to Sales (P/S) Ratio: The P/S ratio of 1.41 is lower than the industry average, implying a discounted valuation for Granite Construction's stock in relation to sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Granite Construction's EV/EBITDA ratio at 14.28 suggests potential undervaluation, falling below industry averages.
</li>
</ul>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
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<h3>Uncovering the Importance of Insider Activity</h3>
Insider transactions, although significant, should be considered within the larger context of market analysis and trends.
When discussing legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated in Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are required to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
A new purchase by a company insider is a indication that they anticipate the stock will rise.
On the other hand, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>Exploring Key Transaction Codes</h3>
In the domain of transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> frequently turn their focus to those taking place in the open market, as meticulously outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000861459">Check Out The Full List Of Granite Construction's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Insider Transaction: Celeste B. Mastin Sells $529K Worth Of Granite Construction Shares

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.graniteconstruction.com&amp;esheet=54147671&amp;newsitemid=20241107459362&amp;lan=en-US&amp;anchor=Granite&amp;index=1&amp;md5=dc95013cea063cae6d572aa35a9f2778">Granite </a>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GVA#NYSE">GVA</a>) announced that it has been awarded the civil scope of work for Phase 1 of the Mosaic Quarter project, an approximately $27 million subcontract for general contractor Hensel Phelps. Mosaic Quarter is a sports and entertainment-focused lifestyle center, serving as a destination point for residents and visitors. It features state-of-the-art venues for entertainment, recreational and collegiate sports, including ice hockey, basketball, soccer, and much more.
The project is situated near South Kino Parkway and I-10 in Tucson, Arizona and is being developed, funded, and operated by Mosaic Quarter Development. The award is included in Granite's fourth-quarter CAP.
This keystone project supports the City of Tucson, Pima County, and Southern Arizona and continues Granite's history of building successful projects with Hensel Phelps.

Granite Announces Phase 1 Of The $425M Mosaic Quarter Development In Tucson, Arizona, An ~$27M Subcontract Has Been Awarded For General Contractor Hensel Phelps

General

Granite Construction shares are trading lower after the company reported worse-than-expected Q3 financial results.

Press Releases

Granite Joint Venture Team Awarded $97 Million Military Infrastructure Project in Guam

Granite Earns its Fifth Consecutive Early Talent Award from Handshake

Granite Declares Quarterly Dividend

Granite Earns VETS Indexes 4-Star Employer Award for 2025

Granite Announces Timing of Earnings Release and Investor Conference Call

Announcing Granite's $80 Million Infrastructure Project in Forney, Texas

Granite's Asphalt Guru Wins AGC Innovation of the Year Award

Granite Enhances Roadside Safety with Upgrades to Coachella Valley Rest Area

Granite Publishes Annual Sustainability Report

Granite Reports First Quarter 2025 Results

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Cadeler A/S American Depositary Share (each representing four (4) Ordinary Shares)

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