Granite Construction announced a $66 million contract to widen State Route 49 to four lanes with a center turn lane in Nevada County, California. The project, funded through federal and state sources, is slated to begin in late 2027 and is expected to be completed by late 2029 or 2030.
The contract requires Granite to supply 75,000 tons of hot mix asphalt and recycled hot mix asphalt from its Bradshaw Hot Plant, underscoring the company’s vertically integrated materials capability and its ability to control costs and ensure reliable supply for large transportation projects.
Adding the contract to its 2025 fourth‑quarter Committed and Awarded Projects pipeline brings Granite’s backlog to a record $6.3 billion as of September 30, 2025, providing a clear view of future revenue and reinforcing the company’s growth trajectory.
Granite’s Q3 2025 results—$1.43 billion in revenue, a 12% year‑over‑year increase, and $103 million in net income, up 30%—were driven by strong demand in core civil‑infrastructure segments. CEO Kyle Larkin described the current infrastructure market as “the strongest market I’ve seen in my career,” highlighting disciplined project selection and vertical integration as key to the company’s performance.
Investors have noted the contract as a positive sign, citing the record backlog, robust demand in the public‑sector infrastructure market, support from the Infrastructure Investment and Jobs Act, and Granite’s focus on higher‑margin projects. These factors collectively reinforce confidence in the company’s ability to sustain revenue growth and margin expansion.
The Nevada County Transportation Commission identified 59 collisions on the corridor over three years, with more than half attributed to congestion. The expansion is expected to improve safety by reducing congestion and providing a dedicated center turn lane, addressing a critical local safety concern.
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