Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. It owns and operates a diverse fleet in the United States dredging industry. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Great Lakes Dredge & Dock faces challenges but eyes growth

Great Lakes Dredge & Dock navigated challenges in Q4 2022, but remains optimistic about future growth opportunities.
Despite a net loss in 2022, GLDD's strong competitive position and focus on cost savings planning indicate resilience.
The company's strategic actions to adjust to market conditions and secure backlog projects position it well for future success.

Great Lakes Dredge & Dock reports improved Q1 results and eyes offshore wind market for growth

Great Lakes Dredge & Dock showed improved performance in Q1 2023 with a focus on cost management and strategic growth initiatives.
While challenges like competition and market uncertainties exist, opportunities in offshore wind and government support present avenues for growth.
Maintaining financial stability, managing capital expenditures, and seizing growth opportunities are key focus areas for the company.

Great Lakes Dredge & Dock (GLDD) reports robust Q2 performance and eyes growth opportunities

Great Lakes Dredge & Dock (GLDD) demonstrated resilience and growth potential in Q2 2023 through improved financial performance and strategic initiatives.
While facing challenges from a delayed bid market, GLDD's proactive cost-saving measures and project wins signal a positive outlook for the company.
With a strong backlog, new project opportunities, and entry into the offshore wind market, GLDD is poised for continued success and expansion.

GLDD faces challenges but maintains strong backlog and growth focus

Great Lakes Dredge & Dock navigated a challenging quarter with resilience, focusing on cost efficiency and strategic growth initiatives.
Despite operational hurdles, the company maintained a strong backlog, improved profit margins, and positioned itself for future revenue growth.
Monitoring market developments and project viability while managing financial risks are key priorities for GLDD's sustainable growth and competitiveness.
With a strategic focus on operational improvements, financial stability, and market opportunities, GLDD aims for improved results and shareholder value in the coming years.

Great Lakes Dredge & Dock reports strong Q4 performance and eyes offshore wind market for growth

Great Lakes Dredge & Dock (GLDD) had a strong Q4 2023 marked by improved performance, record backlog, and cost reductions. Despite challenges in the offshore wind market, the company is strategically positioned for growth with opportunities in diversification and new build programs.

Great Lakes Dredge & Dock excels in Q1 2024, eyes offshore wind growth

Great Lakes Dredge & Dock delivered a strong performance in Q1 2024, marked by robust financial results and successful project execution.
While facing challenges in vessel utilization and margin management, the company's strategic strengths and growth opportunities position them for continued success.
By capitalizing on the favorable market conditions and government support, GLDD aims to drive growth and profitability in the dredging and offshore wind sectors.

Great Lakes Dredge & Dock reports strong Q2 performance and growth opportunities

GLDD's Q2 performance reflects solid financial results and a positive outlook for future growth.
The company's strengths lie in securing credit support, maintaining project continuity, and high utilization expectations.
Challenges include limited vessel growth potential and scheduling constraints, while opportunities exist in various markets and projects.

Great Lakes Dredge & Dock reports strong Q3 results and eyes growth opportunities in 2025

GLDD's Q3 performance reflects solid financial results, driven by new contracts and operational advancements.
While facing capital expenditure challenges, the company's liquidity position and positive outlook for 2025 present opportunities for growth.
Strategic focus on increasing utilization, addressing margin performance, and capital allocation will be key to sustaining momentum.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.

HOUSTON, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation ("Great Lakes" or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, announced today the award for the Port Arthur LNG Phase 1 project Marine Dredging and Disposal contract.

Great Lakes Awarded the Dredge and Environmentally Beneficial Disposal Contract for the Port Arthur LNG Project

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD ) Q2 2023 Results Conference Call August 1, 2023 10:00 AM ET Company Participants Tina Baginskis - Director of Investor Relations Lasse Petterson - President and Chief Executive Officer Scott Kornblau - Senior Vice President and Chief Financial Officer Conference Call Participants Adam Thalhimer - Thompson, Davis Joe Gomes - NOBLE Capital Pete Lukas - CJS Securities Operator Good day, and thank you for standing by. Welcome to the Second Quarter 2023 Great Lakes Dredge & Dock Corporation Earnings Conference Call.

Great Lakes Dredge & Dock Corporation (GLDD) Q2 2023 Earnings Call Transcript

Second quarter net income of $1.7 million Second quarter adjusted EBITDA of $16.6 million Dredging backlog of $434.6 million at June 30, 2023

Great Lakes Reports Second Quarter 2023 Results

HOUSTON, July 27, 2023 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation ("Great Lakes" or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, announced today the signing of the first ever subcontract for procurement of rock for a U.S. offshore wind farm with Carver Sand & Gravel LLC (“Carver”), a U.S. quarry in the state of New York.

Great Lakes Signs First Rock Supply Subcontract for U.S. Offshore Wind Farms with New York Quarry, Carver Sand & Gravel LLC

HOUSTON, July 25, 2023 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) today announced that it will release the financial results for its three and six months ended June 30, 2023 on Tuesday, August 1, 2023 at 7:00 a.m. C.D.T. A conference call with the Company will be held the same day at 9:00 a.m. C.D.T.

Great Lakes Dredge & Dock Corporation Schedules Announcement of 2023 Second Quarter Results

HOUSTON, July 24, 2023 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation ("Great Lakes" or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, announced today the receipt of Notice to Proceed to perform essential improvements to the Brownsville Ship Channel for NextDecade Corporation's (“NextDecade”) (NASDAQ: NEXT) Rio Grande LNG (“RGLNG”) project.

Great Lakes Receives Notice to Proceed on Largest Project Undertaken in its History for the Dredge and Disposal Construction Agreement with NextDecade Corporation

Shares of dredging services provider Great Lakes Dredge & Dock Corporation have fallen over 40% since YE21 as the federal government bid market inexplicably dried up in FY22. Despite the obvious need for its services and an improved bidding market environment versus FY22, the company is not expected to return to profitability in FY23. With negative Adj. EBITDA generated over the past 12 months and net debt of $339.2 million versus a market cap of $545 million, the recent insider buying merited further investigation.

Great Lakes Dredge & Dock: An Interesting Infrastructure Play

Great Lakes Dredge & Dock has seen a significant decline in revenue, profits, and cash flows, with shares dropping 13.8% since last year. The company's backlog, or future projects, has also decreased from $551.6 million at the end of 2021 to $327.1 million in the first quarter of 2023. Despite the downturn, funding from the US Army Corps of Engineers and bids on offshore wind projects could provide a boost, leading to a more neutral rating for the company.

Great Lakes Dredge & Dock: The Only Thing Keeping This A Viable Prospect

Some of the most interesting investment stories are often the most unglamorous. One good example is the dredging business.

Digging for Success With Great Lakes Dredge & Dock

HOUSTON, June 06, 2023 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation ("Great Lakes" or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, announced today that Scott Kornblau, Senior Vice President, Chief Financial Officer and Treasurer will be presenting and hosting one-on-one meetings with investors at the Sidoti June Virtual Investor Conference, taking place on June 14-15, 2023.

Great Lakes Dredge & Dock to Present at Sidoti Virtual Investor Conference on Wednesday, June 14, 2023

Great Lakes Dredge & Dock (GLDD) receives two federally funded dredging contracts, valued at $186.6 million, for the U.S. Army Corps of Engineers, Galveston District.

Great Lakes (GLDD) Wins Two Dredging Contracts Worth $186.6M

HOUSTON, June 01, 2023 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation ("Great Lakes" or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, announced today the receipt of two major dredging awards totaling $186.6 million.

Great Lakes Announces Receipt of $186.6 Million in Awarded Work

Great Lakes (GLDD) strong bidding ability and project execution bode well.

Great Lakes (GLDD) Wins $157M Freeport Dredging Contract

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD ) Q1 2023 Earnings Conference Call May 2, 2023 10:00 AM ET Company Participants Tina Baginskis - Director of Investor Relations Lasse Petterson - President and Chief Executive Officer Scott Kornblau - Senior Vice President and Chief Financial Officer Conference Call Participants Joe Gomes - Noble Capital Markets Adam Thalhimer - Thompson, Davis & Company, Inc. Jonathan Tanwanteng - CJS Securities, Inc. Operator Good day, and thank you for standing by. Welcome to the Q1 2023 Great Lakes Dredge & Dock Corporation Earnings Conference Call.

Great Lakes Dredge & Dock Corporation (GLDD) Q1 2023 Earnings Call Transcript

First quarter net loss of $3.2 million First quarter adjusted EBITDA of $10.2 million Dredging backlog of $327.1 million at March 31, 2023

Great Lakes Reports First Quarter 2023 Results

GLDD has been beaten down by many things going wrong, seeing its weakest operating margin in 20 years in 2022.

Great Lakes Dredge & Dock May Offer Recession-Proof Opportunity

HOUSTON, April 25, 2023 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) today announced that it will release the financial results for its three months ended March 31, 2023 on Tuesday, May 2, 2023 at 7:00 a.m. C.D.T. A conference call with the Company will be held the same day at 9:00 a.m. C.D.T.

Great Lakes Dredge & Dock Corporation Schedules Announcement of 2023 First Quarter Results

HOUSTON, March 20, 2023 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation ("Great Lakes" or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, announced today the receipt of several major dredging awards totaling $138.8 million.

Great Lakes Announces Receipt of $138.8 Million in Awarded Work

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD ) Q4 2022 Earnings Conference Call February 15, 2023 10:00 AM ET Company Participants Tina Baginskis - Director, IR Lasse Petterson - President and CEO Scott Kornblau - CFO Conference Call Participants Adam Thalhimer - Thompson Davis Jon Tanwanteng - CJS Securities Joe Gomez - Noble Capital Operator Good day, and thank you for standing by. Welcome to the Fourth Quarter 2022 Great Lakes Dregde & Dock Corporation Conference Call.

Great Lakes Dredge & Dock Corporation (GLDD) Q4 2022 Earnings Call Transcript

Results from the transportation company failed to match expectations.

Why Great Lakes Dredge & Dock Stock Is Sinking Today

Fourth quarter net loss of $31.2 million Fourth quarter negative adjusted EBITDA of $24.2 million Full year net loss of $34.1 million Full year adjusted EBITDA of $17.0 million Net loss and adjusted EBITDA include $8.1 million charge for retirement of the Terrapin Island hopper dredge in Q4 Dredging backlog of $377.1 million at December 31, 2022

Great Lakes Reports Fourth Quarter and Full Year 2022 Results

HOUSTON, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) today announced that it will release the financial results for its three and twelve months ended December 31, 2022 on Wednesday, February 15, 2023 at 7:00 a.m. C.S.T. A conference call with the Company will be held the same day at 9:00 a.m. C.S.T.

Great Lakes Dredge & Dock Corporation Schedules Announcement of 2022 Fourth Quarter Results

HOUSTON, Jan. 04, 2023 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, announced that it will be presenting at the 23rd Annual CJS Securities "New Ideas for the New Year" Investor Conference, to be held virtually on Wednesday, January 11, 2023 at 1:30 pm E.T.

Great Lakes to Present at the 23rd Annual CJS Securities "New Ideas for the New Year" Investor Conference

HOUSTON, Dec. 20, 2022 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, announced an update on its fourth quarter 2022 operations.

Great Lakes Provides an Update to Q4 2022

Great Lakes Dredge & Dock is the only publicly traded US dredging firm and has a substantial market share. USACE controls the majority of dredging contracts and is supported by $5.4+ billion of annual gov't spending. The firm's Sept 2022 TTM bid opportunities are valued at $1.8 billion.

News for Great Lakes Dredge & Dock Stock (GLDD)