{"id":34279,"date":"2026-02-13T00:59:14","date_gmt":"2026-02-13T08:59:14","guid":{"rendered":"https:\/\/essential.construction\/news\/pending-highway-bill-significantly-higher-than-iija-granite-ceo\/"},"modified":"2026-02-13T00:59:14","modified_gmt":"2026-02-13T08:59:14","slug":"pending-highway-bill-significantly-higher-than-iija-granite-ceo","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/pending-highway-bill-significantly-higher-than-iija-granite-ceo\/","title":{"rendered":"Pending highway bill \u2018significantly higher\u2019 than IIJA: Granite CEO"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"text-to-speech\">\n    <button class=\"text-to-speech__button button\"><br \/>\n        <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.constructiondive.com\/static\/img\/play.svg?500116090725\" alt=\"-\"><br \/>\n        Listen to the article<br \/>\n        <span class=\"text-to-speech__button__audio-length\">4 min<\/span><br \/>\n    <\/button><\/p>\n<div class=\"text-to-speech__controls\">\n        <audio controls=\"\" class=\"js-text-to-speech\" preload=\"none\"><source src=\"https:\/\/text-to-speech.divecdn.com\/newspost\/812167\/2026-02-12_19.06.16\/highway-bill-higher-iija-granite-construction.wav\" type=\"audio\/mp3\"><\/source><\/audio><\/p>\n<div class=\"text-to-speech__controls__text\">\n            This audio is auto-generated. Please let us know if you have <a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/contact\/\" target=\"_blank\">feedback<\/a>.\n        <\/div>\n<\/p><\/div>\n<\/div>\n<h3>Dive Brief:<\/h3>\n<ul>\n<li><span><span><span><span><span><span>Granite Construction President and CEO Kyle Larkin said <a rel=\"nofollow noopener\" href=\"https:\/\/www.smartcitiesdive.com\/news\/congress-surface-transportation-authorization-outlook\/810752\/\" target=\"_blank\">surface transportation reauthorization amounts<\/a> being discussed in Congress are \u201csignificantly higher\u201d than those in the $1.2 trillion Infrastructure Investment and Jobs Act of 2021.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/li>\n<li><span><span><span><span><span><span>Larkin made his comments Thursday on <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/investor.graniteconstruction.com\/news-and-events\/press-releases\/granite-reports-fourth-quarter-and-fiscal-year-2025-results\" target=\"_blank\"><span><span><span><span><span><span><span><span>Granite\u2019s fourth-quarter and full-year 2025 earnings<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> call, where the company reported higher revenue and profits for the quarter and year. The firm also notched a record backlog of $6.97 billion, up 32% from a year ago.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/li>\n<li><span><span><span><span><span><span>With the IIJA expiring in September, Larkin said securing more public funding for infrastructure was a priority for lawmakers. \u201cWhat we hear really from industry today is that there\u2019s still bipartisan support,\u201d Larkin said on the call. \u201cThere\u2019s still a huge focus on coming up with another investment mechanism and I think the really good news is the investment amount is significantly higher.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/li>\n<\/ul>\n<h3>Dive Insight:<\/h3>\n<p><span><span><span><span><span><span>Larkin\u2019s comments echoed those from other public construction companies, including Dallas-based AECOM, which said an <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/aecom-highway-bill-revenue-profits-drop\/811907\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>expansion of highway funding<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> would further extend the current transportation construction cycle. Larkin said he expects draft legislation to be available in March or April.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<figure class=\"image-right inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" alt=\"Kyle Larkin Granite CEO\" data-imagemodel=\"91724\" src=\"https:\/\/imgproxy.divecdn.com\/L31a8a_gCl3AXnUoPL39mC6hmwngU7JTF6Uw7F0trLY\/g:ce\/rs:fit:1600:0\/Z3M6Ly9kaXZlc2l0ZS1zdG9yYWdlL2RpdmVpbWFnZS9TY3JlZW5zaG90XzIwMjAtMDktMjhfYXRfOC40OC4wN19BTS5wbmc=.webp\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Kyle Larkin<\/p>\n<p>Permission granted by Granite Construction<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>But even before Congress approves any new dollars, Larkin said just half of the original IIJA money had actually been spent through November. The rest should provide stability in the infrastructure market for some time. \u201cThere\u2019s still a really nice runway of spending to go, so that\u2019ll last, luckily, for a few more years,\u201d Larkin said.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Beyond money for highways, Larkin said Watsonville, California-based Granite is also among 11 firms competing for around $40 billion in border infrastructure work on the southern border. In March, <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/granite-first-border-wall-construction-trump\/742824\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>Granite won the first border wall contract<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> of President Donald Trump\u2019s second term for a $70 million job to build 7 miles of barrier in Hidalgo County, Texas.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The Trump administration has accelerated the awards timeline for new border work, Larkin said, and he expects new contracts to be announced in June or July. But that compressed schedule means previously smaller segments of work have been bundled into bigger overall jobs.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Since Granite has focused in recent years on taking on smaller work packages, which offer more near-term visibility into schedule and cost, Larkin said the firm would be choosy with any additional work in that area.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cThese contracts are getting larger than what we originally contemplated, so the risk profile is changing a little bit on those to one that&#8217;s just giving us reason to be more disciplined in our pursuits and ensuring that we can not only just win the work but be successful in delivering it for ourselves and for our clients,\u201d Larkin said. \u201cSo we\u2019ll see.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Granite reported $1.17 billion in revenue and net income of $52.03 million for the fourth quarter, a rise of 19% and 25% from a year ago. For the year, revenue reached $4.42 billion, a 10% gain from 2024. Profits of $193 million for the year were 53% higher than what the company reported in 2024.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Looking ahead, Granite said it would continue to be on the hunt for more acquisitions 2026, particularly on the <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/granite-construction-materials-business-Q3-2025-earnings\/805202\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>materials side of its business<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>. On its second quarter 2025 conference call, Granite announced it had purchased Hattiesburg, Mississippi-based Warren Paving and Arroyo Grande, California-headquartered Papich Construction <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/granite-construction-acquisitions-backlog-earnings\/757248\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>for a combined price of $710 million<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>. That was followed in October by a deal to buy Carson City, Nevada-based Cinderlite Trucking.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Executives said to expect more of the same this year, as Granite continues to build out its \u201chome-market\u201d strategy where it supplies materials from its owned aggregate plants for infrastructure projects in the areas surrounding those facilities.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cWhile we are selective in our pursuits, we expect to achieve our goal of completing several strategic acquisitions in 2026,\u201d said Staci Woolsey, Granite\u2019s chief financial officer, on the call.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.constructiondive.com\/news\/highway-bill-higher-iija-granite-construction\/812167\/\" rel=\"nofollow noopener\" target=\"_blank\">This article was originally posted at Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Listen to the article 4 min This audio is auto-generated. 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