Granite Construction announced that its joint ventures secured a US$324.8 million Big Creek Tunnel contract in Ohio and a US$165 million Guam Defense System task order, both to be added to third-quarter committed and awarded projects. The Big Creek Tunnel award is part of the Project Clean Lake program, and together the two wins deepen Granite's exposure to long-duration water and defense infrastructure work. The company said the awards could reinforce revenue visibility and the mix of higher-complexity projects in its backlog. The new commitments arrive soon after Granite's US$600 million senior notes due 2034, which preserved a high absolute debt level and keeps balance sheet risk in focus as the company works through an unprofitable 2026. Granite's narrative projects $6.3 billion in revenue and $434.8 million in earnings by 2029, requiring 10.8% yearly revenue growth and a $249.8 million earnings increase from $185.0 million today.
Granite Construction IncorporatedGranite's joint ventures won a $324.8M Big Creek Tunnel contract and a $165M Guam Defense task order, adding to its committed and awarded projects.
