Granite Wins $50M PG&E Dam Spillway Contract in California
GVA sits 40% above its 52-week low of $89.797.
Summary
Granite Construction has been awarded an approximately $50 million contract by Pacific Gas and Electric for the Tiger Creek Regulator Dam Spillway Replacement project in Amador County, California. The project, which began construction in May 2026 and is expected to complete by May 2028, will be included in Granite's second quarter 2026 CAP. This award adds to Granite's growing backlog, following a $116.9 million Utah transportation contract secured in late June. The contract represents a modest but steady addition to the company's $5.2–$5.4 billion full-year revenue guidance, reinforcing its position in critical infrastructure projects.
At the time of this announcement, GVA was trading at $125.72 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $5.5B. The 52-week trading range was $89.80 to $162.08. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.