Welcome to our dedicated page for Great Lakes Dredge & Dock news (Ticker: GLDD), a resource for investors and traders seeking the latest updates and insights on Great Lakes Dredge & Dock stock.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) is widely described in its public disclosures as the largest provider of dredging services in the United States, with a long history of executing significant international projects. This news page compiles company announcements, project updates, and regulatory disclosures that illustrate how Great Lakes operates within the marine construction and site preparation sector.
Readers can find news about dredging contracts and awards, such as maintenance and coastal protection projects on major rivers, harbors, and coastlines. Recent releases describe awards for work on the Mississippi River, regional harbor dredging in the South Atlantic, maintenance dredging in Baltimore Harbor and channels, and beach renourishment and coastal protection projects in states including Florida, New York, Arkansas, Oklahoma, and Delaware. These items show how the company’s services support navigation, coastal resilience, and environmental restoration.
News coverage also includes financial and capital structure updates, including quarterly earnings releases, discussions of backlog, and information about credit facilities. For example, Great Lakes has reported amendments to its revolving credit facility, describing changes to borrowing capacity, maturity, and the use of proceeds to refinance other debt. These announcements provide context on the company’s balance sheet, liquidity, and access to capital.
Another recurring theme in GLDD news is the company’s Offshore Energy sector and subsea infrastructure activities. Releases highlight the development of the Acadia subsea rock installation vessel, its expected use on offshore wind projects, and the broader strategy to serve subsea cable and pipeline protection markets. Collaborations with partners, such as arrangements to provide dredging services for potential offshore mineral projects, are also covered.
By following this news feed, investors and observers can monitor Great Lakes Dredge & Dock’s project pipeline, contract awards, offshore energy initiatives, and key financial disclosures over time.
Great Lakes Dredge & Dock reported first-quarter 2022 earnings with a net income of $11.1 million and adjusted EBITDA of $29.7 million. Revenue reached $194.3 million, reflecting a year-over-year increase of $16.7 million. The backlog stood at $473.5 million as of March 31, 2022. Challenges included weather-related delays and ongoing COVID-19 costs, impacting production. A significant contract for subsea rock installation for the Empire Wind I and II project was secured, anticipating long-term growth opportunities in offshore wind development.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) has been awarded its first offshore wind rock installation contract for the Empire Wind I and II projects, a joint venture by Equinor and bp. The projects will generate over 2 GW of renewable energy for New York. Great Lakes will utilize the first Jones Act compliant subsea rock installation vessel, enhancing U.S. offshore wind capabilities. The initiative supports local employment and economic growth, marking a significant step for the offshore wind industry in the U.S.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) will announce its financial results for the quarter ending March 31, 2022, on May 3, 2022, at 7:00 a.m. C.D.T. Following this, a conference call will take place at 9:00 a.m. C.D.T., accessible via call-in or on the company’s website. Established over 131 years ago, Great Lakes is the largest U.S. dredging service provider, known for its significant international projects and commitment to safety through its Incident-and Injury-Free® program.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) has announced a significant agreement with Texas A&M University to support the establishment of the Great Lakes Dredge & Dock Laboratory of Dredging and Coastal Studies. This partnership aims to enhance research and technical support in coastal engineering. The collaboration underscores Great Lakes' commitment to education and the ocean engineering profession and is expected to strengthen their longtime relationship with the university. Both parties expressed excitement about the potential advancements in dredging and coastal studies.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) announced multiple major dredging awards totaling $132.3 million. Key projects include:
- Rockaway Inlet Beach Fill (New York, $37.2 million)
- South Atlantic Division Harbor Dredging (Georgia, North Carolina, South Carolina, $25.8 million)
- Avon Village Beach Nourishment (North Carolina, $25.9 million)
- Carolina and Kure Beaches Project (North Carolina, $20.3 million)
- Jacksonville Harbor Dredging (Florida, $11.5 million)
- Nags Head Beach Renourishment (North Carolina, $11.6 million)
Work on these projects will help improve coastal resilience and is expected to commence between mid-2022 and fall 2022.
Great Lakes Dredge & Dock Corporation (GLDD) reported Q4 2021 net income of $24.7 million and full-year net income of $49.4 million, down 25.3% from 2020. Q4 revenue rose to $210.0 million, a $37.9 million increase YoY, while adjusted EBITDA grew by 63.9% to $48.2 million. The company's full-year revenue fell by $7.5 million to $726.1 million. GLDD ended the year with a backlog of $551.6 million and announced a new contract in the offshore wind sector.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) will release its financial results for the three and twelve months ended December 31, 2021, on February 16, 2022, at 7:00 a.m. C.S.T. A conference call will follow at 9:00 a.m. C.S.T., accessible via phone at (877) 377-7553 with Conference ID 5544504. The call will also be streamed on the company's website. Known as the largest dredging service provider in the U.S., Great Lakes has a solid track record of project completion and prioritizes employee safety through its Incident-and Injury-Free® culture.
Great Lakes Dredge & Dock (GLDD) has secured a $92.5 million contract for the Houston Ship Channel Widening Project 11, which is part of a billion-dollar expansion initiative. Dredging operations are set to begin in Q1 2022, and completion is expected by Q4 2022. The project involves widening 11½ miles of the channel to accommodate larger vessels and will enhance environmental efforts by creating a new island for wildlife. The company is also investing $4.5 million to upgrade equipment to reduce emissions, showcasing its commitment to environmental sustainability.
Great Lakes Dredge & Dock (GLDD) has announced a $197 million contract with Philly Shipyard to construct the first U.S.-flagged Jones Act-compliant vessel for subsea rock installation. This pioneering vessel will support the offshore wind industry and contribute to the Biden administration's goal of achieving 30 GW of offshore wind energy by 2030. Expected to be sea-ready by Q4 2024, the vessel will enhance job creation and establish a U.S.-based rock supply chain. With advanced technology and low emissions, this project positions GLDD favorably in the growing renewable energy sector.
Great Lakes Dredge & Dock Corporation (GLDD) reported Q3 2021 results with net income of $13.8 million and adjusted EBITDA of $32.2 million. Revenue for the quarter stood at $168.6 million, down $7.2 million year-over-year, attributed to lower coastal protection and foreign revenue. Their backlog reached $598.5 million as of September 30, 2021. COVID-19-related costs impacted profitability, costing $2.1 million in Q3. Looking ahead, GLDD anticipates improved results in Q4 2021, driven by new project awards and a positive outlook in domestic dredging.