Granite Construction Inc（GVA）のニュースとイベントGVAGranite Construction Inc

Company Outlines 2029 Financial Targets

"Our 2029 financial targets are summarized below: Organic revenue CAGR in a range of 10% to 12%; Adjusted EBITDA margin in a range of 14% to 16%; SG&A expense as a percent of revenue of approximately 7.5%; Operating cash flow of approximately 13% of revenue and CAPEX of approximately 3% of revenue resulting in free cash flow of approximately 10% of revenue; Continued expansion through M&A with a 2.5x net leverage target.

Granite Reports Q3 Revenue of $1.8B, Exceeding Expectations

Reports Q3 revenue $1.8B, consensus $1.7B. "We delivered excellent third quarter results, reflecting strong execution across our business and continued progress on our strategy," said Kyle Larkin, Granite President and Chief Executive Officer. "Our teams are executing at a high level, and the investments we have made to strengthen and expand our business are creating new opportunities for Granite. We continue to see attractive opportunities in our core transportation markets while expanding our capabilities and presence in federal, mission critical infrastructure, rail and other targeted end markets. Our record CAP and strong market outlook position us well as we enter 2027. We believe Granite has the people, capabilities and market position to capitalize on these opportunities and deliver profitable growth and long-term shareholder value."

Granite Awarded $16M Project Contract by City of Woodinville

Granite announced that it has been awarded the SR 202 Widening and Trestle Replacement Project - Phase B by the City of Woodinville, Washington. The contract is valued at approximately $16M and will be included in Granite's fourth quarter 2026 CAP. The project will widen SR 202/131st Avenue NE between NE 177th Street and NE 175th Street from five lanes to eight lanes, and replace the existing railroad trestle with a new, unique arched and flared post-tensioned box girder pedestrian bridge. The improvements will enhance traffic flow through the city while the bridge will create a distinctive gateway into the City of Woodinville, providing an architecturally significant landmark for residents and visitors. "This project showcases the breadth of Granite's capabilities across structures, earthwork, underground utilities, paving, and construction materials," said Regional VP Mike Stein. "The bridge component is both technically complex and visually distinctive, providing an opportunity to deliver infrastructure that improves mobility while creating a lasting community asset." Granite's Smith Island asphalt plant and Granite Falls aggregate facility will provide materials for the project. The project will begin in the fourth quarter of 2026 and completion is anticipated in the fourth quarter of 2027.