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), the U.S. leader in marine construction and dredging services, provides critical infrastructure solutions through coastal protection, waterway maintenance, and environmental projects. This news hub delivers official updates and analysis for stakeholders tracking the company's operational developments.
Access timely updates on government contract awards, coastal resilience initiatives, and strategic expansions into offshore energy markets. Our curated collection includes earnings reports, project milestones, and regulatory filings essential for understanding GLDD's market position.
Key content categories include harbor deepening projects, environmental remediation efforts, and fleet modernization updates. Investors will find detailed coverage of capital allocation strategies and competitive positioning within the global dredging industry.
Bookmark this page for centralized access to verified information about GLDD's specialized vessel operations and their role in maintaining U.S. maritime infrastructure. Check regularly for new developments impacting coastal communities and marine construction markets.
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) has increased its investment in coral conservation at The Florida Aquarium in Tampa, following the challenges posed by COVID-19. This initiative aims to continue the Aquarium's significant coral restoration efforts, which have included spawning endangered coral species. The company's ongoing support reflects its commitment to environmental conservation. The Florida Aquarium has made notable advancements in coral propagation, crucial for preserving marine biodiversity.
Great Lakes Dredge & Dock Corporation (GLDD) recently announced the receipt of several major dredging awards totaling $59.8 million. Key projects include:
- Atchafalaya River Bay Maintenance Dredging ($13.8 million)
- Brevard County Beach Renourishment ($10.6 million)
- Fort Pierce Beach Re-nourishment ($8.5 million)
- Mobile Harbor Deepening Project ($8.3 million)
- Three additional awards totaling $18.6 million
These projects are funded by the U.S. Federal government and are expected to be completed in 2021, contributing positively to Great Lakes' backlog and operational performance.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) secured a $105 million contract for the Jacksonville Harbor Construction Dredging, with expectations of an additional $11.5 million in optional work, bringing the total potential to $116.5 million. Dredging will commence in Q4 2020 and is set for completion by Q2 2022. The project aims to deepen and widen the channel, enhancing shipping efficiency and safety for larger vessels. The company emphasizes environmental compliance and safety in its operations.
Great Lakes Dredge & Dock Corporation (GLDD) has secured several major dredging contracts worth a total of $118.8 million. Key projects include the $52.9 million Charleston Lower Harbor Dredging, $30.6 million Emerald Isle post-hurricane nourishment, and $15.5 million Freeport Harbor improvement. Work is set to begin in Q4 2020 and continue into 2022. These contracts contribute positively to Great Lakes' backlog and align with their strategy for environmental support and infrastructure improvement.
Great Lakes Dredge & Dock Corporation (GLDD) announced significant awards totaling $117.8 million for various dredging projects in the U.S. The major projects include:
- $44.9 million for the Mississippi River maintenance project.
- $24 million for the beach renourishment project in New Jersey.
- $15.2 million for coastal storm risk management in Florida.
- $14.6 million for Wilmington Harbor maintenance.
- $10.3 million for maintenance in Texas and Louisiana.
- $8.8 million for a project in Delaware and Maryland.
These projects are expected to enhance coastal protection and the company’s service capabilities.
Great Lakes Dredge & Dock Corporation (Nasdaq: GLDD) reported Q2 2020 results, showing a revenue of $167.9 million, a decline of 9.1% from Q2 2019. Income from continuing operations was $9.0 million, down $2.5 million year-over-year, while adjusted EBITDA fell to $28.1 million. The company ended the quarter with a cash position of $233.5 million and a backlog of $423.4 million. Despite lower quarter earnings, year-to-date income grew by 34% to $42.9 million. Management remains confident in the company's outlook, citing continued project opportunities amidst the COVID-19 pandemic.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) announced a new share repurchase program, allowing up to $75 million in common stock buybacks. CEO Lasse Petterson stated that this decision reflects the Board's confidence in the company's future and commitment to shareholder value. The company boasts strong cash flow and a solid balance sheet, enabling these buybacks while retaining liquidity for growth opportunities. Repurchases may occur through various methods, including open market and Rule 10b5-1 plans.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) will announce its financial results for the quarter ending June 30, 2020, on August 4, 2020, at 7:00 a.m. C.D.T. A conference call is scheduled for the same day at 9:00 a.m. C.D.T., accessible via phone at (877) 377-7553, with Conference ID 1658815. Replays will be available until August 6, 2020. The company emphasizes its leadership in the dredging industry, showcasing over 130 years of project success and a commitment to safety through its Incident-and Injury-Free® program.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) announced a subcontract with Bechtel for dredging work at the Sabine Pass Liquefaction Project in Louisiana. This project involves expanding the LNG facility, adding a third marine berth for LNG export vessels. Dredging is set to begin in Q3 2020 and emphasizes environmental preservation and safety. CEO Lasse Petterson highlighted Great Lakes' extensive experience in similar projects and their commitment to safe operations. The company has a strong track record, having completed all marine projects in its 130-year history.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) is set to present at the Noble Capital Markets Virtual Roadshow on July 15, 2020, at 10 a.m. CDT. CEO Lasse Petterson and CFO Mark Marinko will lead the presentation followed by a live Q&A session. Registration is free, but limited to 100 participants. With over 130 years in operation, Great Lakes is the largest U.S. dredging services provider, boasting a diverse fleet of over 200 specialized vessels. The company emphasizes safety through its Incident-and Injury-Free® program, ensuring a high standard of employee welfare.
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