We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By pressing "Accept All" or closing out of this banner, you accept our Privacy Policy and Terms of Service, revised from time to time, and you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties. You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Granite Wins $71M Fort Bliss Contract to Expand Rail Yard
Read MoreHide Full Article
Granite Construction Incorporated (GVA - Free Report) 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 GVA
The rail yard expansion will include new loading spurs, an expanded vehicle staging area, and a secondary connection to the Union Pacific Railroad. These upgrades are designed to improve efficiency and reduce rail loading times, ultimately enhancing the base’s logistics operations. This project not only highlights the company's expertise in large-scale infrastructure but also strengthens internal partnerships and workforce development.
Granite’s Strategic Federal Expansion
The Fort Bliss project underscores a growing collaboration between Granite’s Federal Division and regional operations. Curt Haldeman, regional vice president, pointed out that this contract will allow the company’s regional workforce to gain valuable federal project experience, positioning Granite for future government contracts in West Texas and beyond.
Construction is set to begin in February 2025 and is expected to be completed by June 2027. With a strong track record in infrastructure development and federal contracts, Granite’s continued expansion into government-funded projects could provide long-term growth opportunities for investors.
This contract reinforces Granite’s federal market presence, making it a stock to watch for investors looking at infrastructure-driven growth.
GVA’s Share Price Performance
Image Source: Zacks Investment Research
Shares of GVA soared 40.2% in the past six months compared with the Zacks Building Products - Heavy Construction industry’s 33% growth. GVA has been consistently receiving contracts on the back of its solid execution efforts. Also, it has been diversifying and expanding its business through acquisitions and investments. GVA's focus on best-value projects, representing $2.4 billion or 42% of total CAP at the end of third-quarter 2024, highlights its strategic approach to project management and risk assessment.
As the construction industry continues to evolve, Granite's strategic expansion positions it as a formidable player in the market. GVA has been bolstering its materials business through both greenfield and bolt-on investments, and improved segment margins.
Earnings per share (EPS) estimates for 2025 have remained stable at $5.68 in the past 60 days, indicating 14.1% year-over-year growth. The company’s EPS topped analysts’ expectations in two of the past four quarters, with an average surprise of 16.9%.
GVA’s Zacks Rank & Key Picks
Granite currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Zacks Construction sector:
MasTec, Inc. (MTZ - Free Report) currently sports a Zacks Rank #1 (Strong Buy). MTZ delivered a trailing four-quarter earnings surprise of 40.2%, on average. The stock has rallied 46.5% in the past six months. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MTZ’s 2025 sales and EPS calls for an increase of 8.9% and 43.9%, respectively, from a year ago.
Weyerhaeuser Company (WY - Free Report) currently sports a Zacks Rank of 1. WY delivered a trailing four-quarter earnings surprise of 41.6%, on average. The stock has gained 5% in the past six months.
The consensus estimate for WY’s 2025 sales and EPS indicates an increase of 8% and 71%, respectively, from a year ago.
Frontdoor, Inc. (FTDR - Free Report) currently sports a Zacks Rank of 1. FTDR delivered a trailing four-quarter earnings surprise of 269%, on average. The stock has gained 56.6% in the past six months.
The consensus estimate for FTDR’s 2025 sales and EPS indicates an increase of 6.4% and 1.4%, respectively, from a year ago.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report predicting the 7 stocks that will soar highest in the coming month.
Image: Bigstock
Granite Wins $71M Fort Bliss Contract to Expand Rail Yard
Granite Construction Incorporated (GVA - Free Report) 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 GVA
The rail yard expansion will include new loading spurs, an expanded vehicle staging area, and a secondary connection to the Union Pacific Railroad. These upgrades are designed to improve efficiency and reduce rail loading times, ultimately enhancing the base’s logistics operations. This project not only highlights the company's expertise in large-scale infrastructure but also strengthens internal partnerships and workforce development.
Granite’s Strategic Federal Expansion
The Fort Bliss project underscores a growing collaboration between Granite’s Federal Division and regional operations. Curt Haldeman, regional vice president, pointed out that this contract will allow the company’s regional workforce to gain valuable federal project experience, positioning Granite for future government contracts in West Texas and beyond.
Construction is set to begin in February 2025 and is expected to be completed by June 2027. With a strong track record in infrastructure development and federal contracts, Granite’s continued expansion into government-funded projects could provide long-term growth opportunities for investors.
This contract reinforces Granite’s federal market presence, making it a stock to watch for investors looking at infrastructure-driven growth.
GVA’s Share Price Performance
Image Source: Zacks Investment Research
Shares of GVA soared 40.2% in the past six months compared with the Zacks Building Products - Heavy Construction industry’s 33% growth. GVA has been consistently receiving contracts on the back of its solid execution efforts. Also, it has been diversifying and expanding its business through acquisitions and investments. GVA's focus on best-value projects, representing $2.4 billion or 42% of total CAP at the end of third-quarter 2024, highlights its strategic approach to project management and risk assessment.
As the construction industry continues to evolve, Granite's strategic expansion positions it as a formidable player in the market. GVA has been bolstering its materials business through both greenfield and bolt-on investments, and improved segment margins.
Earnings per share (EPS) estimates for 2025 have remained stable at $5.68 in the past 60 days, indicating 14.1% year-over-year growth. The company’s EPS topped analysts’ expectations in two of the past four quarters, with an average surprise of 16.9%.
GVA’s Zacks Rank & Key Picks
Granite currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Zacks Construction sector:
MasTec, Inc. (MTZ - Free Report) currently sports a Zacks Rank #1 (Strong Buy). MTZ delivered a trailing four-quarter earnings surprise of 40.2%, on average. The stock has rallied 46.5% in the past six months. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MTZ’s 2025 sales and EPS calls for an increase of 8.9% and 43.9%, respectively, from a year ago.
Weyerhaeuser Company (WY - Free Report) currently sports a Zacks Rank of 1. WY delivered a trailing four-quarter earnings surprise of 41.6%, on average. The stock has gained 5% in the past six months.
The consensus estimate for WY’s 2025 sales and EPS indicates an increase of 8% and 71%, respectively, from a year ago.
Frontdoor, Inc. (FTDR - Free Report) currently sports a Zacks Rank of 1. FTDR delivered a trailing four-quarter earnings surprise of 269%, on average. The stock has gained 56.6% in the past six months.
The consensus estimate for FTDR’s 2025 sales and EPS indicates an increase of 6.4% and 1.4%, respectively, from a year ago.