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 Corporation (NASDAQ: GLDD) has secured several major dredging awards totaling $60.9 million, enhancing its year-end 2020 backlog. Key projects include:
- North County Comprehensive Shore Protection Project in Florida: $21.2 million
- U.S. Naval Station Mayport and Jacksonville Harbor Maintenance: $21.2 million
- U.S. Naval Station Kings Bay Entrance Channel Maintenance: $15.8 million
- Brunswick Inner Harbor Maintenance Subcontract: $2.7 million
These projects demonstrate Great Lakes' commitment to coastal protection and maintenance, vital for U.S. Navy operations and enhancing environmental resilience.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) announced the development of the first U.S.-flagged, Jones Act compliant vessel for subsea rock installation, aiming to boost the offshore wind industry. This project is expected to enhance job growth and establish a U.S.-based rock supply chain along the East Coast. Designed in collaboration with Ulstein Design and Solutions B.V., the vessel will meet stringent emissions standards and be operational by Q1 2024, facilitating major offshore wind projects. CEO Lasse Petterson emphasized the significant economic potential of this initiative.
Great Lakes Dredge & Dock Corporation (GLDD) reported third-quarter financial results for 2020, highlighting income from continuing operations of $12.5 million, a 42.4% increase year-over-year. Revenue rose to $175.8 million, up 3.5% from the prior year, with a gross margin percentage of 20.7%. Adjusted EBITDA also grew to $32.2 million, an 18.8% increase. The company’s backlog reached $661.3 million, supported by $927 million in projects bid during the quarter. Additionally, Great Lakes is relocating its headquarters to Houston, Texas to better serve its regional clients.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) will announce its financial results for the three and nine months ending September 30, 2020, on November 4, 2020, at 7:00 a.m. C.S.T. A conference call is scheduled for the same day at 9:00 a.m. C.S.T. Participants can join by calling (877) 377-7553 with Conference ID 1494155. The call will also be available for replay until November 6, 2020. Great Lakes is the largest U.S. dredging service provider and has a strong safety culture, never failing to complete a marine project in over 130 years.
Great Lakes Dredge & Dock Co. (NASDAQ: GLDD) announced its relocation of headquarters from Oak Brook, Illinois, to Houston, Texas. This strategic move aims to strengthen connections with customers and explore new markets along the Gulf Coast and Mississippi River. The Houston office is set to open in early 2021, seeking 20,000 square feet of space in the Energy Corridor. The company anticipates enhanced collaboration with major clients, including the U.S. Army Corps of Engineers, and plans to support industry growth through new regional offices in Jacksonville and Staten Island.
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.