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Granite Announces Caldwell Avenue Interchange Reconstruction Project on SR99 in Visalia, California

1. Granite awarded $66 million contract for SR99 interchange project in California. 2. Project funding includes state and federal sources, enhancing Granite's financial outlook.

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FAQ

Why Bullish?

The contract signifies a substantial revenue boost for GVA, comparable to past project wins that have positively influenced stock prices.

How important is it?

A significant contract enhances revenue and visibility, potentially attracting investor interest.

Why Short Term?

Contract inclusion in Q1 CAP indicates immediate cash flow benefits, likely reflecting in quarterly results.

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WATSONVILLE, Calif.--(BUSINESS WIRE)--Granite (NYSE:GVA) has been awarded an approximately $66 million contract by the California Department of Transportation (Caltrans) for an infrastructure project that will enhance the Caldwell Avenue interchange located on SR99 in Visalia, California. Project funding comes from state and federal sources and will be included in Granite's first-quarter CAP. The project scope includes the construction of two new precast girder bridges: a two-span structure ove.

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