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Granite (GVA), Veracio to Redefine Drill Hole Data Utilization
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The wholly-owned subsidiary of Granite Construction Incorporated (GVA - Free Report) — International Directional Services (IDS) — inked a deal with a mining technology company, Veracio, to transform its drill hole data analytics and elevate productivity for clients.
The partnership marks a significant step toward leveraging technology to enhance the mining process. IDS’s drill hole geological data collection, together with Veracio's minerals drilling technology solutions, will redefine the way drill hole data is collected, analyzed and utilized in the industry.
The scope of the deal includes implementing technology to improve the accuracy and quality of drill hole data analysis and providing valuable insights for mining projects. Leveraging Veracio’s growing fleet of technologies, like TruGyro and TruSub, will ensure precise and efficient drilling that will lead to better resource definition, safety and lower risks of operational errors at a lower cost.
The deal aims to elevate the level of support and satisfaction for IDS’s clients by delivering data-driven insights and solutions.
The consistent award wins have been driving GVA’s performance. The company is focused on growing a high-quality, Committed and Awarded Projects (“CAP”) portfolio on the back of a positive public funding environment and resilient private market.
The performance of Granite’s operating segments showcased strong market growth in third-quarter fiscal 2023, benefiting from a robust public funding environment. CAP reached $5.6 billion in the third quarter, reflecting a sequential increase of 3% and year-over-year growth of 37%. Both public and private markets continued to be strong. GVA expects substantial opportunities to build CAP in the fourth quarter and further in 2024.
Zacks Rank & Key Picks
Granite currently sports a Zacks Rank #1 (Strong Buy).
Here are some other top-ranked stocks from the Zacks Construction sector:
The Zacks Consensus Estimate for MPTI’s 2023 sales and EPS indicates growth of 30.6% and 156.7%, respectively, from the previous year.
EMCOR Group, Inc. (EME - Free Report) presently flaunts a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 10.6%, on average.
The Zacks Consensus Estimate for EME’s 2023 sales and EPS indicates an improvement of 12% and 52.8%, respectively, from the prior-year levels.
Dycom Industries, Inc. (DY - Free Report) carries a Zacks Rank #2 (Buy) at present. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 154.3%.
The Zacks Consensus Estimate for DY’s fiscal 2024 sales and EPS indicates a rise of 9.4% and 62.6%, respectively, year over year.
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Granite (GVA), Veracio to Redefine Drill Hole Data Utilization
The wholly-owned subsidiary of Granite Construction Incorporated (GVA - Free Report) — International Directional Services (IDS) — inked a deal with a mining technology company, Veracio, to transform its drill hole data analytics and elevate productivity for clients.
The partnership marks a significant step toward leveraging technology to enhance the mining process. IDS’s drill hole geological data collection, together with Veracio's minerals drilling technology solutions, will redefine the way drill hole data is collected, analyzed and utilized in the industry.
The scope of the deal includes implementing technology to improve the accuracy and quality of drill hole data analysis and providing valuable insights for mining projects. Leveraging Veracio’s growing fleet of technologies, like TruGyro and TruSub, will ensure precise and efficient drilling that will lead to better resource definition, safety and lower risks of operational errors at a lower cost.
The deal aims to elevate the level of support and satisfaction for IDS’s clients by delivering data-driven insights and solutions.
Image Source: Zacks Investment Research
Shares of GVA rose 30.8% in the past year compared with the Zacks Building Products - Heavy Construction industry’s 13.8% growth.
The consistent award wins have been driving GVA’s performance. The company is focused on growing a high-quality, Committed and Awarded Projects (“CAP”) portfolio on the back of a positive public funding environment and resilient private market.
The performance of Granite’s operating segments showcased strong market growth in third-quarter fiscal 2023, benefiting from a robust public funding environment. CAP reached $5.6 billion in the third quarter, reflecting a sequential increase of 3% and year-over-year growth of 37%. Both public and private markets continued to be strong. GVA expects substantial opportunities to build CAP in the fourth quarter and further in 2024.
Zacks Rank & Key Picks
Granite currently sports a Zacks Rank #1 (Strong Buy).
Here are some other top-ranked stocks from the Zacks Construction sector:
M-tron Industries, Inc. (MPTI - Free Report) currently sports a Zacks Rank #1. MPTI delivered a trailing four-quarter earnings surprise of 35.6%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MPTI’s 2023 sales and EPS indicates growth of 30.6% and 156.7%, respectively, from the previous year.
EMCOR Group, Inc. (EME - Free Report) presently flaunts a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 10.6%, on average.
The Zacks Consensus Estimate for EME’s 2023 sales and EPS indicates an improvement of 12% and 52.8%, respectively, from the prior-year levels.
Dycom Industries, Inc. (DY - Free Report) carries a Zacks Rank #2 (Buy) at present. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 154.3%.
The Zacks Consensus Estimate for DY’s fiscal 2024 sales and EPS indicates a rise of 9.4% and 62.6%, respectively, year over year.