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December 18, 2012
08:35 EDTGVAGranite Construction still faces challenges, says Sterne Agee
After a consortium that includes Granite won a deal to replace New York's Tappan Zee Bridge, Sterne Agee believes that Granite remains challenged by excess construction capacity and a highly competitive bidding environment. The firm maintains an Underperform rating on the stock.
News For GVA From The Last 14 Days
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December 10, 2014
17:43 EDTGVAGranite Construction: JV team awarded $109M design/build contract
Granite Construction announced that the joint-venture team comprised of Granite Construction Company and Pulice Construction has been awarded a $109M design/build contract by the Arizona Department of Transportation to reconstruct 19 miles of State Route 202 in Phoenix. Granite expects to book its 35% share, or approximately $38M, into backlog during the fourth quarter. Scope of the work includes capacity improvements across the 19-mile project by adding both general purpose lanes and high occupancy vehicle lanes in both directions. The work also includes the reconstruction of eight bridges, installation of concrete barrier, noise and retaining walls, improvements to the Freeway Management System as well as all drainage, signing and lighting modifications. Work is currently underway and is anticipated to be complete by December 2015

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