Granite Construction Inc. is a publicly traded company listed on the New York Stock Exchange (NYSE) under the ticker symbol GVA. The company is involved in the construction and infrastructure industries, providing a range of services including construction, transportation, and mining. It was founded in 1922 as Granite Rock Company and is headquartered in Watsonville, California, USA.
Granite Construction operates through four business segments: Large Project Construction, Construction Materials, Construction Services, and Real Estate. Large Project Construction provides services such as design and construction of highways, bridges, and airports. Construction Materials is responsible for the production and distribution of construction materials including aggregates, asphalt, and concrete. Construction Services provides infrastructure services such as site preparation, excavation, and grading. Lastly, Real Estate focuses on commercial and residential development.
The company has been publicly traded since 1990 when it went public on the NASDAQ stock exchange. It later transferred to the NYSE in 1994, where it has remained. Granite Construction has expanded its operations over the years through a combination of strategic acquisitions and organic growth. In 2020, Granite Construction announced the sale of its Materials division to another construction materials company, giving the company a stronger focus on its core construction and infrastructure business.
Granite Construction has been involved in a number of high-profile projects over the years, including the construction of the Hoover Dam Bypass bridge, the runway at San Francisco International Airport, and the reconstruction of the Interstate 35W bridge in Minneapolis, Minnesota. The company has also been recognized for its commitment to sustainability and corporate responsibility, receiving accolades such as being named one of the "World's Most Ethical Companies" by Ethisphere Institute for six consecutive years.
Despite challenges in the construction industry due to the COVID-19 pandemic, Granite Construction has continued to perform well financially. In its most recent quarterly report, the company reported revenue of over $500 million and a net income of $15 million. The company has a market capitalization of around $1.5 billion as of May 2023 and employs approximately 3,200 people.