Granite Construction Incorporated delivers infrastructure solutions for public and private clients primarily in the United States.
The company is one of the largest diversified, vertically integrated civil contractors and construction materials producers in the United States. Within the public sector, the company primarily concentrates on infrastructure projects, including the construction of streets, roads, highways, mass transit facilities, airport infrastructure, bridges, dams, power-related...
Granite Construction Incorporated delivers infrastructure solutions for public and private clients primarily in the United States.
The company is one of the largest diversified, vertically integrated civil contractors and construction materials producers in the United States. Within the public sector, the company primarily concentrates on infrastructure projects, including the construction of streets, roads, highways, mass transit facilities, airport infrastructure, bridges, dams, power-related facilities, utilities, tunnels, water well drilling and other infrastructure-related projects. Within the private sector, the company performs various services, such as site preparation, mining services and infrastructure services for commercial and industrial sites, railways, residential development, energy development, as well as provide construction management professional services. The company owns and leases aggregate reserves, and it owns processing plants that are vertically integrated into its construction operations. The company also produces construction materials for sale to third parties.
The company has vertically integrated operations across Alaska, Arizona, California, Mississippi, Nevada, Oregon, Tennessee, Utah and Washington in addition to regional civil construction home markets in Illinois, Florida and Texas. The company’s Construction segment also operates national businesses within the Tunnel division, the Rail division, the Federal division, which performs civil construction across the continental United States and Guam, the Industrial & Energy division, which primarily focuses on commercial solar construction projects, and the Layne division, which performs water well drilling, rehabilitation services and mineral exploration services.
Segments
The company operates through Construction and Materials segments.
The Construction segment focuses on construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure and site development for use by the general public and water-related construction for municipal agencies, commercial water suppliers, industrial facilities and energy companies. It also provides construction of various complex projects including infrastructure and site development, mining, public safety, tunnel, solar, battery storage and other power-related projects.
The Materials segment focuses on production of aggregates, asphalt concrete, liquid asphalt and recycled materials for internal use in the company’s construction projects and for sale to third parties.
Customers
Customers in the company’s Construction segment are predominantly in the public sector and include certain federal agencies, state departments of transportation, local transit authorities, county and city public works departments, school districts and developers, utilities and private owners of industrial, commercial and residential sites. Customers of the company’s Materials segment include internal usage by its own construction projects, as well as third-party customers. The company’s third-party Materials segment customers include, but are not limited to, contractors, landscapers, manufacturers of products requiring aggregate materials, retailers, homeowners, farmers and brokers. The majority of both the company’s public and private customers are located in the United States.
During the years ended December 31, 2024, the company’s largest volume customer, including both prime and subcontractor arrangements, was the California Department of Transportation (Caltrans).
Business Strategy
As America's Infrastructure Company, Granite satisfies society’s needs for mobility, power, water and other essential services that sustain living conditions and improve quality of life. Across the company’s footprint of regional offices, it provides horizontal civil infrastructure construction services and construction materials products to a diverse base of public, industrial and commercial clients. These clients benefit from the company’s home market strategy which includes local relationships, market intelligence and the resources and expertise of one of the oldest and most respected U.S. contractors and materials producers.
Seasonality
The company’s operations are typically affected more by weather conditions during the first and fourth quarters of its fiscal year (year ended December 31, 2024).
Government Regulations
The company’s operations are subject to various statutes and certain executive orders, as well as the rules and regulations promulgated by the Occupational Safety and Health Administration and the Mine Safety and Health Administration. In addition, certain of the company’s contracts with government agencies contain minimum Disadvantaged Business Enterprise (DBE) participation clauses. The company is subject to the Foreign Corrupt Practices Act (FCPA).
History
Granite Construction Incorporated was founded in 1922. The company was incorporated in 1922.