Great Lakes Announces Receipt of $134 million in Awarded Work
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), America's largest dredging services provider, has secured seven new contracts totaling $134 million. The projects include major maintenance and coastal protection work across multiple U.S. locations, with values ranging from $8.7 million to $27.9 million.
The awarded projects span across Louisiana, North Carolina, Virginia, Florida, New York, Arkansas, Oklahoma, and Delaware, primarily funded by federal sources with some state and local contributions. All projects are scheduled to commence in Q4 2025, except for the Indian River Inlet project which began in Q3 2025.
CEO Lasse Petterson confirmed that despite the current government shutdown, operations remain unaffected as these projects are fully funded. The new awards strengthen GLDD's backlog, providing revenue visibility through 2025 and into 2026.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), il più grande fornitore di servizi di dragaggio negli Stati Uniti, ha assicurato sette nuovi contratti per un totale di 134 milioni di dollari. I progetti includono manutenzione maggiore e lavori di protezione costiera in diverse località statunitensi, con valori che vanno da 8,7 milioni a 27,9 milioni di dollari.
I progetti assegnati si estendono tra Louisiana, Carolina del Nord, Virginia, Florida, New York, Arkansas, Oklahoma e Delaware, finanziati principalmente da fondi federali con contributi statali e locali. Tutti i progetti dovrebbero iniziare nel quarto trimestre del 2025, tranne il progetto Indian River Inlet che è iniziato nel terzo trimestre del 2025.
Il CEO Lasse Petterson ha confermato che, nonostante la chiusura governativa in corso, le operazioni non sono influenzate poiché questi progetti sono completamente finanziati. Le nuove assegnazioni rafforzano l’arretrato di GLDD, offrendo visibilità sui ricavi fino al 2025 e nel 2026.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), el mayor proveedor de servicios de dragado de Estados Unidos, ha asegurado siete nuevos contratos por un total de 134 millones de dólares. Los proyectos incluyen mantenimiento importante y trabajos de protección costera en múltiples ubicaciones de EE. UU., con valores que oscilan entre 8,7 millones y 27,9 millones de dólares.
Los proyectos adjudicados se desarrollan en Louisiana, Carolina del Norte, Virginia, Florida, New York, Arkansas, Oklahoma y Delaware, financiados principalmente con fondos federales con algunas aportaciones estatales y locales. Todos los proyectos están programados para comenzar en el cuarto trimestre de 2025, excepto el proyecto Indian River Inlet que comenzó en el tercer trimestre de 2025.
El CEO Lasse Petterson confirmó que, a pesar del actual cierre gubernamental, las operaciones no se ven afectadas ya que estos proyectos están totalmente financiados. Las nuevas adjudicaciones fortalecen el backlog de GLDD, proporcionando visibilidad de ingresos hasta 2025 y 2026.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD)는 미국에서 가장 큰 준설 서비스 제공업체로, 7건의 신규 계약을 체결해 총 1억 3400만 달러를 확보했습니다. 프로젝트에는 유지보수 및 여러 미국 지역의 연안 보호 작업이 포함되며, 가치가 870만 달러에서 2790만 달러에 이릅니다.
수여된 프로젝트는 루이지예나주, 노스캐롤라이나주, 버지니아주, 플로리다주, 뉴욕주, 아칸소주, 오클라호마주, 델라웨어주에 걸쳐 있으며, 주로 연방 자금으로도 일부 주 및 지역 기여금이 포함되어 있습니다. 모든 프로젝트는 2025년 4분기에 시작될 예정이며, Indian River Inlet 프로젝트만 2025년 3분기에 시작되었습니다.
CEO Lasse Petterson은 현재의 연방 셧다운에도 불구하고 이 프로젝트들이 완전히 자금 조달되어 있어 운영에 영향이 없다고 확인했습니다. 신규 수주는 GLDD의 백로그를 강화하여 2025년과 2026년까지의 수익 가시성을 제공합니다.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), le plus grand fournisseur américain de services de dragage, a obtenu sept nouveaux contrats pour un montant total de 134 millions de dollars. Les projets incluent des travaux d’entretien majeurs et de protection côtière dans plusieurs sites aux États-Unis, avec des valeurs comprises entre 8,7 et 27,9 millions de dollars.
Les projets attribués s’étendent sur la Louisiane, la Caroline du Nord, la Virginie, la Floride, New York, l’Arkansas, l’Oklahoma et le Delaware, principalement financés par des fonds fédéraux avec certaines contributions étatiques et locales. Tous les projets devraient débuter au quatrième trimestre 2025, à l’exception du projet Indian River Inlet qui a commencé au troisième trimestre 2025.
Le PDG Lasse Petterson a confirmé que, malgré la fermeture gouvernementale en cours, les opérations ne sont pas affectées car ces projets sont entièrement financés. Les nouvelles adjudications renforcent le carnet de commandes de GLDD, offrant une visibilité des revenus jusqu’en 2025 et 2026.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), Amerikas größter Anbieter von Baggerdienstleistungen, hat sieben neue Verträge im Gesamtwert von 134 Millionen US-Dollar gesichert. Die Projekte umfassen wichtige Wartungsarbeiten und Küstenschutzmaßnahmen an mehreren Standorten in den USA, mit Werten von 8,7 bis 27,9 Millionen US-Dollar.
Die vergebenen Projekte erstrecken sich über Louisiana, North Carolina, Virginia, Florida, New York, Arkansas, Oklahoma und Delaware und werden hauptsächlich durch Bundesmittel finanziert, mit einigen Beiträgen von Staaten und lokalen Stellen. Alle Projekte sollen im vierten Quartal 2025 beginnen, mit Ausnahme des Indian River Inlet-Projekts, das im dritten Quartal 2025 begann.
CEO Lasse Petterson bestätigte, dass trotz der aktuellen Regierungsschließung die Betriebe unberührt bleiben, da diese Projekte vollständig finanziert sind. Die neuen Aufträge stärken GLDDs Rückstand und bieten Einnahmenblick bis 2025 und 2026.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD)، أكبر مزود لخدمات التجريف في الولايات المتحدة، أبرمت سبع عقود جديدة بإجمالي 134 مليون دولار. تشمل المشاريع صيانة رئيسية والعمل على حماية السواحل عبر مواقع أميركية متعددة، بقيم تتراوح من 8.7 مليون دولار إلى 27.9 مليون دولار.
تشمل المشاريع الممنوحة لويزيانا وكارولينا الشمالية وفيرجينيا وفلوريدا ونيويورك وأركنساس وأوكلاهوما وديلاوير، وتُموّل في الغالب من مصادر اتحادية مع بعض المساهمات من الولايات والمحليات. من المقرر أن تبدأ جميع المشاريع في الربع الرابع من 2025، باستثناء مشروع Indian River Inlet الذي بدأ في الربع الثالث من 2025.
أكد الرئيس التنفيذي لاسه بيترسون أنه على الرغم من الإغلاق الحكومي الحالي، فإن العمليات لم تتأثر لأن هذه المشاريع ممولة بالكامل. تعزز الطلبات الجديدة من GLDD دفتر الطلبات، وتوفر رؤية للإيرادات حتى 2025 و2026.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD)，美国最大的疏浚服务提供商，已获得七份新合同，总额1.34亿美元。这些项目包括跨多个美国地点的重大维护和沿海保护工作，金额从870万美元至2790万美元不等。
获批的项目横跨路易斯安那州、北卡罗来纳州、弗吉尼亚州、佛吉尼亚州、纽约州、阿肯色州、俄克拉荷马州和特拉华州，主要由联邦资金资助，另有部分州和地方财政贡献。所有项目计划在2025年第四季度启动，除了已在2025年第三季度开始的Indian River Inlet项目。
CEO Lasse Petterson 确认，尽管当前政府关门，运营不受影响，因为这些项目已获得完全资助。新的授予加强了 GLDD 的未完成工作量，为2025年及2026年的收入提供可见性。
- Secured substantial new contracts worth $134 million across seven projects
- Projects are fully funded and immune to government shutdown impacts
- Extended revenue visibility through 2025 and into 2026
- Geographic diversification across multiple U.S. regions
- Mix of federal, state, and local funding sources enhancing revenue stability
- Heavy dependence on government contracts and federal funding
- Project execution concentrated in Q4 2025, creating potential operational pressure
Insights
Great Lakes secures $134M in new dredging contracts, boosting revenue visibility through 2026 despite government shutdown.
Great Lakes Dredge & Dock Corporation has secured seven new contracts totaling
Breaking down the contract portfolio, we see a strategic mix of project types: five maintenance projects (
An important stabilizing factor is that despite the ongoing government shutdown, the company reports operations remain unaffected with projects fully funded and not at risk. This demonstrates the essential nature of Great Lakes' services and the resilience of its business model during federal funding disruptions. With work on most projects expected to commence in Q4 2025, these awards will drive immediate revenue generation while providing momentum into 2026. The company's statement about never failing to complete a marine project in its 135-year history further underscores its reliability in contract execution, a crucial competitive advantage in securing future government contracts.
HOUSTON, Oct. 01, 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 the receipt of seven work awards totaling over
The awarded work includes:
- Mississippi River, Baton Rouge to the Gulf, Head of Passes Project (Maintenance, Louisiana,
$27.9 million ) - South Atlantic Division (SAD) Regional Harbor Dredging Contract (Maintenance, North Carolina,
$26.9 million ) - Baltimore Harbor and Channels Cape Henry (Maintenance, Virginia,
$25.5 million )
- Delray Beach Renourishment (Coastal Protection, Florida,
$19.2 million ) - East Rockaway Inlet (Maintenance, New York,
$14.0 million ) - McLellan-Kerr Arkansas River Navigation System Station Dredging Project (Maintenance, Arkansas, and Oklahoma,
$11.7 million ) - Indian River Inlet North Beach Renourishment (Coastal Protection, Delaware,
$8.7 million )
Mississippi River, Baton Rouge to the Gulf, Head of Passes, Hopper Dredge Disposal Area project, which was won and awarded in the third quarter of 2025, involves dredging previously placed river maintenance material from the disposal area and placing the material nearby to contribute to marsh development. In addition, there is an option for additional work which has yet to be exercised. The client on this project is the U.S. Army Corps of Engineers, New Orleans District and is federally funded. Work is expected to start in the fourth quarter of 2025.
SAD Regional Harbor Dredging maintenance project, which was won and awarded in the third quarter of 2025, involves maintenance dredging of the Brunswick and Morehead City Navigation Channels. The client on this project is the U.S. Army Corps of Engineers, Savanah and Wilmington Districts and is federally funded. Work is expected to start in the fourth quarter of 2025.
Baltimore Harbor & Channels Maintenance Dredging Cape Henry Channel project, which was won and awarded in the third quarter of 2025, involves dredging from navigation channel near the mouth of Chesapeake Bay. The client on this project is the U.S. Army Corps of Engineers, Baltimore District and is federally, state, and locally funded. Work is expected to start in the fourth quarter of 2025.
Delray Beach Renourishment project, which was won and awarded in the third quarter of 2025, involves dredging material near shore and depositing the material to the beach along the Florida coast. The client on this project is the U.S. Army Corps of Engineers, Jacksonville District and is federally funded. Work is expected to start in the fourth quarter of 2025.
East Rockaway Inlet maintenance project, which was won and awarded in the third quarter of 2025, involves maintenance dredging with disposal of sand to Rockaway Beach. The client on this project is the U.S. Army Corps of Engineers, New York District and is federally funded. Work is expected to start in the fourth quarter of 2025.
The McLellan-Kerr Arkansas River Navigation System Station Dredging Project entails dredging to return navigation channels to authorized depths. The client on this project is the U.S. Army Corps of Engineers, Little Rock District and is federally funded. Work is expected to commence in the fourth quarter of 2025.
Indian River Inlet North Beach Renourishment project, which was won and awarded in the third quarter of 2025, involves dredging material from the Indian River Inlet Ebb Shoal and depositing the material to construct a beach berm and dune system along the Delaware coast. The client on this project is the U.S. Army Corps of Engineers, Philadelphia District and is federally, state, and locally funded. Work began in the third quarter of 2025.
Lasse Petterson, President and Chief Executive Officer commented, "These awards position Great Lakes as a key contributor to strengthening the resilience and sustainability of our nation's environment, coastlines, and essential infrastructure. The seven newly awarded projects expand our 2025 dredging backlog, reinforcing revenue visibility through the rest of this year and well into 2026. Despite the current government shutdown, our operations remain unaffected. We continue to conduct business as usual, maintaining full schedules without interruption. Our support to the Corps will proceed without disruption, and our backlog of projects are fully funded and not at risk."
The Company
Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States, which is complemented with a long history of performing significant international projects. In addition, Great Lakes is fully engaged in expanding its core business into the offshore energy industry. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production, and project management functions. In its over 135-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of approximately 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking" statements as defined in Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA") or in releases made by the Securities and Exchange Commission (the "SEC"), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Great Lakes and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical facts are forward-looking statements. These cautionary statements are being made pursuant to the Exchange Act and the PSLRA with the intention of obtaining the benefits of the "safe harbor" provisions of such laws. Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future events.
Although Great Lakes believes that its plans, intentions, and expectations reflected in this press release are reasonable, actual events could differ materially. The forward-looking statements contained in this press release are made only as of the date hereof and Great Lakes does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.
For further information contact:
Eric Birge
Vice President of Investor Relations
313-220-3053
FAQ
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