Company Performance - Great Lakes Dredge & Dock (GLDD) closed at $11.15, reflecting a +1.55% change from the previous session, outperforming the S&P 500 which gained 0.53% [1] - The stock has decreased by 2.75% over the past month, underperforming the Construction sector's loss of 0.13% and the S&P 500's gain of 1.24% [1] Upcoming Financial Results - The company is expected to report an EPS of $0.21, indicating a 16% decline compared to the same quarter last year [2] - Revenue is projected to be $211.8 million, representing a 16.55% increase from the prior-year quarter [2] Analyst Estimates - Recent changes to analyst estimates for Great Lakes Dredge & Dock indicate a dynamic business outlook, with positive revisions suggesting optimism [3] - The Zacks Rank system, which incorporates these estimate changes, currently ranks Great Lakes Dredge & Dock at 3 (Hold) [5] Valuation Metrics - Great Lakes Dredge & Dock has a Forward P/E ratio of 12.48, which is below the industry average of 16.8 [6] - The company has a PEG ratio of 0.36, significantly lower than the Building Products - Heavy Construction industry's average PEG ratio of 1.24 [7] Industry Context - The Building Products - Heavy Construction industry is part of the Construction sector and holds a Zacks Industry Rank of 172, placing it in the bottom 32% of over 250 industries [8]

Core Insights - Great Lakes Dredge & Dock Corporation has elected Dana Armstrong as a new independent director, effective January 5, 2025, increasing the Board members to seven [1][2]. Company Overview - Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States and is expanding into the offshore wind energy industry [4]. - The company has a history of completing significant international projects and has never failed to complete a marine project in its over 134-year history [4]. - Great Lakes operates the largest and most diverse fleet in the U.S. dredging industry, consisting of approximately 200 specialized vessels [4]. - The company emphasizes a disciplined training program for engineers and integrates its Incident-and Injury-Free® (IIF®) safety management program into its culture, prioritizing employee safety [4]. New Board Member Profile - Dana Armstrong has served as Executive Vice President and Chief Financial Officer of Excelerate Energy, Inc. since 2020 and has prior experience as Senior Vice President and Chief Financial Officer of Scientific Drilling International from 2015 to 2020 [2]. - Armstrong holds a Bachelor's Degree in Accounting and a Master's Degree in Finance from the University of Houston, C.T. Bauer College of Business, and is a licensed Certified Public Accountant in Texas [3].

HOUSTON, Jan. 08, 2025 (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 its Senior Vice President and Chief Financial Officer, Scott Kornblau, will be presenting and hosting one-on-one meetings with investors at the at CJS Securities 25th Annual New Ideas for the New Year Virtual Conference on Tuesday, January 14, 2025. The presentation will begin at 3:05 PM ET on Tu ...

Great Lakes Dredge & Dock (GLDD) closed at $11.77 in the latest trading session, marking a +0.94% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.26%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 1.77%.The the stock of provider of dredging and dock-contracting services has fallen by 8.12% in the past month, leading the Construction sector's loss of 12.76% and undershooting the S&P 500's loss of 2.82%.The investment community will be closely ...

Great Lakes Dredge & Dock Corporation’s (GLDD) has received $182 million worth of several new dredging awards. All the awards included, focus on coastal protection and are either federally or locally funded.GLDD stock gained 1.1% during Thursday’s trading hours, post the announcement of the new awards.More on Great Lakes’ New Dredging AwardsThe newly awarded work highlights four projects including the Manasquan Inlet to Barnegat Inlet Ocean City Beach Renourishment Project, the Myrtle Beach Renourishment Pr ...

HOUSTON, Dec. 19, 2024 (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 dredging awards totaling $182 million. The awarded work includes: Manasquan Inlet to Barnegat Inlet Ocean City Beach Renourishment Project (Coastal Protection, New Jersey, $73.6 million)Myrtle Beach Renourishment Project (Coastal Protection, South Carolina, $72.3 million) Sagapo ...

Great Lakes Dredge & Dock Corp. (NASDAQ: GLDD ) is an $850 million dredging services provider with a legacy tracing back to the 1890s. For those who are unaware, dredging refers to the process of excavating sediment orI specialize in analyzing individual stocks. With a strong educational background in both finance and economics, I’ve developed a deep fascination with the stock market and the potential it offers to investors at all levels. I keep a close watch on market trends, particularly in the tech secto ...

HOUSTON, Nov. 18, 2024 (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 its newly launched Multi Cat dredge support vessels, Cape Hatteras and Cape Canaveral, have been awarded the prestigious 2024 Significant Boat of the Year title at the International WorkBoat Show. This award underscores the Company’s commitment to safety, innovation, and operational excellence in the d ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-33225 Great Lakes Dredge & Dock Corporation (Exact name of registrant as specified in its charter) Delaware 20-5336063 (State or other ...

Financial Data and Key Metrics Changes - The company reported a net income of $8.9 million for Q3 2024, compared to a net loss of $6.2 million in the same quarter of the previous year [15] - Adjusted EBITDA for the quarter was $27 million, up from $5.3 million year-over-year [15] - Revenues increased to $191.2 million, a rise of $74 million from Q3 2023, primarily driven by the Galveston Island's project activity and higher capital and coastal protection project revenues [12][13] - Gross profit reached $36.2 million with a gross profit margin of 19%, significantly up from $9 million and 7.7% in Q3 2023 [14] Business Line Data and Key Metrics Changes - The company secured $543 million in new contracts during the quarter, including significant wins in beach renourishment and port deepening projects [5] - The backlog reached a record $1.2 billion, with an additional $465 million in pending award low bids and options [6] - Offshore wind backlog stood at $44.6 million, with $12.7 million in options pending award [9] Market Data and Key Metrics Changes - The U.S. offshore wind development pipeline expanded by 53% over the past year, with a potential generating capacity of approximately 80.5 gigawatts by 2025 [23] - The 2024 Energy and Water Appropriation Bill allocated a record $8.7 billion to the U.S. Army Corps of Engineers, supporting a strong bid market [20] Company Strategy and Development Direction - The company is focused on entering the U.S. offshore wind market, with the Acadia vessel under construction and contracted for significant projects [8][9] - The company aims to modernize its fleet with efficient dredges and expand into the growing offshore wind market, generating value for shareholders [24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the strong bid market for 2024 and anticipated solid funding for the U.S. Army Corps of Engineers in 2025 [21][22] - The company expects utilization and revenues to increase in Q4 2024, with margins also projected to rise due to favorable environmental windows [18][19] Other Important Information - The company ended Q3 2024 with $12 million in cash and total liquidity of over $318 million, with no debt maturities until 2029 [16] - Capital expenditures for Q3 2024 totaled $38.4 million, with guidance for the full year remaining between $130 million and $150 million [17] Q&A Session Summary Question: What is the award environment for the fourth quarter? - Management indicated that $90 million of low bids pending at the end of Q3 were already awarded, with expectations for more awards in Q4 [29][30] Question: Are there any delays in the Acadia project due to the Philly Shipyard sale? - Management confirmed that the sale is expected to proceed positively, with no current delays in the Acadia project timeline [32] Question: What is the competitive environment like? - The competitive environment remains stable, with some competitors retiring older dredges, which helps maintain capacity [34] Question: Can you provide insights on dredging gross margins? - The gross margin of 19% was solid, with an expedited dry docking costing approximately $2 million to $2.5 million impacting Q3 margins [37] Question: What are the expectations for Q4 top line revenue? - Management expects a very strong revenue quarter, with all active vessels working and a significant portion of the backlog to be earned [47]