Group 1 - The company Granite Construction Incorporated (NYSE: GVA) is recognized as a provider of infrastructure solutions and has been viewed positively for several years [1] - The focus of Crude Value Insights is on cash flow and companies that generate it, highlighting the potential for value and growth in the oil and natural gas sector [1] Group 2 - Subscribers to Crude Value Insights benefit from a 50+ stock model account and in-depth cash flow analyses of exploration and production (E&P) firms [2] - The service includes live chat discussions about the oil and gas sector, enhancing community engagement and information sharing [2]

Project Details - Granite Construction Incorporated (GVA) has been awarded an $88 million project by the California Department of Transportation (Caltrans) to improve a portion of Ortega Highway State Route 74 (SR 74) [1] - The project will be funded by state and federal sources, with construction expected to begin in April 2025 and be completed by November 2026 [1] - GVA will include this project in its first quarter of 2025 Committed and Awarded Projects (CAP) [1] Work Scope - The project involves widening shoulders and roadways, installing centerline and edge line rumble strips, and resurfacing the highway to improve safety and efficiency [2] - These enhancements will provide vehicle buffer room, significantly improving safety on the narrow two-lane mountainous highway [2] Strategic Importance - The contract builds on Granite's ongoing efforts on this stretch of highway over the past few years, aligning with its strategic goal of expanding its footprint in the Inland Empire of Southern California [3] - Granite is focusing on growing a high-quality CAP portfolio, leveraging positive public funding and a resilient private market to deliver larger projects while minimizing risk [3] CAP Growth - During the third quarter of 2024, Granite added $44 million to its CAP, bringing the total to $5.6 billion, a $44 million sequential increase and a $35 million year-over-year increase [4] - Best-value projects represented 42% ($2.4 billion) of the company's CAP at the end of the quarter, an increase of $31 million from the year-ago quarter [4] Best-Value Projects - Best-value projects include construction manager, general contractor, and progressive design builds, which Granite believes are more efficiently constructed and have a solid growth trajectory [5] Stock Performance - GVA's shares have gained 39.9% in the past six months, slightly below the Zacks Building Products - Heavy Construction industry's 41.8% growth [7] - The company believes strong opportunities across public and private markets will likely foster growth in the upcoming period [8] Industry Comparison - Weyerhaeuser Company (WY) has a Zacks Rank 1 (Strong Buy) and delivered a trailing four-quarter earnings surprise of 41.6% on average, with a 1.6% loss in the past six months [10] - Frontdoor, Inc. (FTDR) has a Zacks Rank 1 and delivered a trailing four-quarter earnings surprise of 269% on average, with a 57.7% gain in the past six months [10] - MasTec, Inc. (MTZ) has a Zacks Rank 2 (Buy) and delivered a trailing four-quarter earnings surprise of 40.2% on average, with a 53.8% gain in the past six months [11]

Granite Construction Incorporated (GVA) has secured a $71 million contract from the U.S. Army Corps of Engineers to expand and modernize the rail yard at Fort Bliss in El Paso, TX. The project, which is fully funded by federal sources, was included in Granite’s third-quarter 2024 Committed and Awarded Projects (CAP), further solidifying the company’s position in government infrastructure work.Shares of Granite gained 2.6% yesterday during the trading session.Boosting Capacity and Efficiency of GVAThe rail y ...

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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 1-12911 GRANITE CONSTRUCTION INCORPORATED State of Incorporation: I.R.S. Employer Identification ...

Financial Data and Key Metrics Changes - Revenue increased by $159 million or 14% year-over-year, reaching $1.1 billion in Q3 2024, driven by higher levels of backlog [43][44] - Gross profit rose by $36 million or 22%, with an adjusted EBITDA improvement of $23 million or 18% [43][44] - Operating cash flow improved significantly by $249 million year-over-year, totaling $284 million for the first nine months of 2024 [47][48] Business Line Data and Key Metrics Changes - In the construction segment, revenue totaled $1.1 billion, reflecting a 14% increase year-over-year, with gross profit margin at 16% [32][44] - The materials segment saw revenue increase by $24 million year-over-year to $195 million, with gross profit up to $32 million [46] - Cash gross profit margins in the materials segment remained strong at 22%, driven by price increases and newly acquired businesses [46] Market Data and Key Metrics Changes - The company reported strong performance across its geographies, particularly in California, Alaska, and Utah [44] - Public funding supports approximately 75% of construction revenue, with expectations for continued growth in both public and private sectors [16][17] - The company anticipates organic revenue growth at a compounded annual growth rate of 6% to 8% through 2027 [19][74] Company Strategy and Development Direction - The company aims to grow revenue and increase margins in both construction and materials segments, with a focus on de-risking its project portfolio and expanding geographically [10][12] - A strategic investment in automation and other projects is expected to drive production costs down and improve margins in the materials segment [26] - The company plans to pursue bolt-on acquisitions and geographical expansion to strengthen its market position [20][21] Management's Comments on Operating Environment and Future Outlook - Management expects the public markets to remain strong, supported by ongoing infrastructure funding from the IIJA [13][14] - The company is optimistic about future revenue growth despite some project delays, which are not unusual in the industry [32][70] - There is confidence in achieving further margin improvements in 2025, driven by a strong project pipeline and operational excellence [56][93] Other Important Information - The company has a strong cash position of $472 million, allowing for potential acquisitions and share repurchases [49][50] - Capital expenditures for the year are expected to be approximately $139 million, with a focus on maintaining discipline in spending [53] - The company narrowed its adjusted EBITDA margin guidance to 10% to 11% for 2024 [52] Q&A Session Summary Question: Long-term outlook on EBITDA margin expansion - Management indicated that the primary driver for EBITDA margin improvement will be the construction segment, with expectations for a ramp-up in Q4 and into 2025 [61][62] Question: Causes of project delays into 2025 - Delays were attributed to owner-driven factors, including notice to proceed delays and changes in conditions [69][70] Question: Organic revenue growth rate and market dynamics - The company expects a 6% to 8% organic revenue growth rate, with more confidence in the public market compared to the private sector [72][74] Question: Capital allocation strategy regarding acquisitions and share repurchases - The company plans to balance investments in M&A and share repurchases, with a focus on maintaining a strong cash position [75][79] Question: Pricing expectations for aggregates and asphalt - The company anticipates high single-digit price increases for aggregates and low single-digit increases for asphalt in 2025, supported by strong public market visibility [86]

Exhibit 99.1 Granite Reports Third Quarter 2024 Results • Q3 revenue increased 14% year-over-year to $1.3 billion • Q3 diluted EPS of $1.57 and adjusted diluted EPS (1) of $2.05, compared to $1.13 and $1.72 in the prior year, respectively • Record Committed and Awarded Projects ("CAP") (2) of $5.6 billion, a sequential increase of $44 million • Year-to-date operating cash flow increased $249 million year-over-year • Expanded southeast home market with acquisition of Dickerson & Bowen, Inc. WATSONVILLE, Cali ...

One of my better calls over the last year or so has been Granite Construction (NYSE: GVA ), a company that focuses on the construction and rehabilitation of roads, bridges, rail lines, airports, and more. It is also involved in Crude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential. Subscribers get to use a 50+ stock model account, in-depth cash flow ...