Summary
- We are at the starting line of a huge flood of Federal infrastructure spending that will last about 8 years.
- The US has underinvested in infrastructure for almost a couple of decades now.
- As a result, many of the companies that provide these services sat out the 2009-2021 bull market.
- Bidding on large projects begins soon, then backlog build, and then revenue later. There is no rush.
- There is a ton of macro uncertainty out there, but the most certain thing is that state and local infrastructure agencies will be spending like they haven’t in almost two decades.
For further details see:
Catalyst: Granite Construction And $550 Billion In Infrastructure Spending