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In recent transactions, Kyle T. Larkin, President and CEO of Granite Construction Inc . (NYSE:GVA), a $3.49 billion construction company with strong financial health according to InvestingPro, sold a significant number of shares, according to a recent SEC filing. On April 29, 2025, Larkin sold a total of 23,999 shares of common stock, generating proceeds of approximately $1,859,076. The sales were executed under a pre-established Rule 10b5-1 trading plan.
The shares were sold in two separate transactions. The first involved 12,060 shares at a weighted average price of $80.50, with prices ranging from $80.03 to $81.02. The second transaction consisted of 10,939 shares sold at a weighted average price of $81.20, with prices between $81.05 and $81.36.
Following these transactions, Larkin’s direct ownership in Granite Construction now stands at 109,367 shares.
In other recent news, Granite Construction reported its Q1 2025 earnings, revealing an earnings per share (EPS) of $0.01, which significantly exceeded the expected loss of $0.52. However, the company’s revenue for the quarter was $614.62 million, falling short of the anticipated $705.95 million. Despite the revenue miss, Granite Construction saw a 4% increase in revenue year-over-year and a substantial 54% rise in gross profit, attributed to operational efficiencies and strategic expansions in the materials segment. The company maintained its 2025 revenue guidance between $4.2 billion and $4.4 billion, with plans to pursue 2-3 mergers and acquisitions focusing on materials-focused, vertically integrated acquisitions. Analysts noted the company’s strong federal business opportunities and expansion in the Southeast market, highlighting successful market penetration. Additionally, Granite Construction’s CEO emphasized the growing importance of the materials business, expecting it to become a larger part of the overall company. The company also reported positive operating cash flow of $4 million for the quarter. Despite facing macroeconomic pressures, including potential tariff impacts, Granite Construction remains optimistic about its strategic focus and growth opportunities.
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