Granite Construction

Granite has received a Progressive Design-Build contract of about $12.3 million from the University of Washington to modernize and widen a one-mile section of the Burke-Gilman Trail on campus. The project includes new paving, improved lighting, separate user zones, enhanced ADA accessibility, modern drainage and reduced maintenance needs. The planning phase has been underway since June 2026, construction is scheduled to begin in spring 2027 with completion in Q1 2029; the contract was included in capital planning for Q2 2026. » Más en de.investing.com

Granite Construction issued 662,383 common shares to settle the conversion of its 3.75% convertible notes due 2028 with a face value of $273.7 million. In parallel, the company closed Unwind Agreements to terminate the related Capped-Call transactions and received roughly $148 million from counterparties. To meet its obligations, Granite paid about $715 million in cash, partly financed by the unwind agreements. The company also reported Q2 revenue of $1.46 billion (above expectations) but a loss of $6.36 per share; it raised its full-year revenue outlook and appointed George L. Nash, Jr. to the board of directors. » Más en de.investing.com

Granite Construction has been awarded a $31 million contract by Hydrostor for preliminary grading work at the Willow Rock Energy Storage Center in Kern County, California. Work on the 89-acre site includes early site infrastructure buildout, upgrades to external roads, stormwater retention basins, a nine-acre drilling platform and excavation of a 1.3 million cubic yard cavern at about 2,000 feet deep. The planned 500-megawatt advanced compressed air energy storage project is expected to power more than 400,000 homes for eight hours; the preparatory phase began in July 2026 and is scheduled for completion in March 2027. » Más en de.investing.com