Granite Construction

Granite builds and repairs roads, bridges, and water systems across the U.S. Its materials help create safer highways and reliable infrastructure for communities. The company’s work supports public agencies, private developers, and essential services.

Building Blocks: Granite’s Main Offerings

• Construction Services (85.2% of 2024 revenue): Builds and renovates roads, bridges, rail lines, airports, and water systems for public and private clients.
• Materials Production (14.8% of 2024 revenue): Produces and sells aggregates, asphalt, and recycled materials for construction projects and third-party buyers.
• Complex Projects: Delivers mining, tunnel, solar, and power infrastructure for industrial and energy customers.
• Site Development: Prepares land for residential, commercial, and industrial use, including grading and utility installation.
• Construction Management: Provides project oversight and professional services for large-scale infrastructure developments.

Growth Spurts: How Granite Expands

• Acquired Dickerson & Bowen in 2024 to strengthen Southeast U.S. presence.
• Bought Lehman-Roberts Company and Memphis Stone & Gravel Company in 2023 for materials integration.
• Entered Canada with Granite Infrastructure Canada in 2023, expanding geographic reach.
• Reorganized in 2024 to align operations with Construction and Materials segments.
• Invested in sustainability and workforce development to support long-term growth.

What Makes Granite Stand Out

Granite controls its supply chain by owning quarries and plants, reducing material risks. The company operates in many U.S. states and Canada, serving both public and private clients. Its focus on selective bidding and risk management helps navigate industry challenges.

Five Things You Need to Know

• Revenue was $4.01 billion in 2024, up 14.2% from 2023.
• Construction segment made up 85.2% of 2024 revenue; Materials was 14.8%.
• Gross profit margin rose to 14.3% in 2024, up from 11.3% in 2023.
• Backlog was $5.3 billion at end of 2024, with 77.8% public sector projects.
• Operating cash flow reached $456.3 million in 2024, up 148% from 2023.

Bottom Line

Granite has grown through acquisitions, vertical integration, and a focus on public infrastructure. Its diversified operations and strong cash flow support adaptability in a changing construction market.