Great Lakes Dredge & Dock Corp Stock Price, News & Analysis

Great Lakes Dredge & Dock (NASDAQ: GLDD), the largest U.S. dredging services provider, announced the election of Dana Armstrong to its Board of Directors effective January 5, 2025. This appointment increases the board size to seven members.

Armstrong currently serves as Executive Vice President and CFO of Excelerate Energy (NYSE:EE) since 2020. Her prior experience includes CFO roles at Scientific Drilling International (2015-2020) and financial positions at Ion Geophysical (2007-2015). She holds accounting and finance degrees from the University of Houston and is a CPA in Texas.

Great Lakes, with its 134-year history, specializes in dredging services and is expanding into offshore wind energy. The company operates approximately 200 specialized vessels and maintains a comprehensive engineering training program alongside its Incident-and Injury-Free® safety management system.

Great Lakes Dredge & Dock (NASDAQ: GLDD), America's largest dredging services provider, has announced its participation in the CJS Securities 25th Annual New Ideas for the New Year Virtual Conference. Senior Vice President and CFO Scott Kornblau will present on Tuesday, January 14, 2025, at 3:05 PM ET, with the presentation accessible via live webcast.

The company, with over 134 years of marine project experience, is expanding into the offshore wind energy industry while maintaining its position as the leading U.S. dredging service provider. Great Lakes operates the nation's largest and most diverse dredging fleet, comprising approximately 200 specialized vessels. The company emphasizes safety through its Incident-and Injury-Free® (IIF®) program and maintains a structured training program for engineers to ensure experience-based performance advancement.

Great Lakes Dredge & Dock (NASDAQ: GLDD) has secured multiple dredging contracts totaling $182 million. The awards include four major coastal protection projects: $73.6 million for Manasquan Inlet to Barnegat Inlet in New Jersey, $72.3 million for Myrtle Beach in South Carolina, $19.6 million for Sagaponack and Bridgehampton Beach in New York, and $16.5 million for Phipps Ocean Park in Florida.

The projects focus on beach renourishment and coastal storm damage reduction, with work schedules spanning from late 2024 through early 2026. The New Jersey project includes additional $41.4 million in pending options. Most projects are federally funded through the U.S. Army Corps of Engineers, with some receiving state and local funding.

Great Lakes Dredge & Dock (NASDAQ: GLDD), America's largest dredging services provider, will participate in NobleCon20 on December 3, 2024. CEO Lasse Petterson and CFO Scott Kornblau will present at 10:30 AM EST at Florida Atlantic University, Boca Raton.

A high-definition video webcast will be available the following day on the company's investor relations website and Noble Capital Markets' platforms, remaining accessible for 90 days. Great Lakes, with its 134-year history, specializes in dredging services and is expanding into offshore wind energy. The company operates approximately 200 specialized vessels and maintains a strong focus on safety through its Incident-and-Injury-Free® program.

Great Lakes Dredge & Dock (NASDAQ: GLDD) announced that its new Multi Cat dredge support vessels, Cape Hatteras and Cape Canaveral, have won the prestigious 2024 Significant Boat of the Year award at the International WorkBoat Show. Built by Conrad Shipyard, these 99-foot Damen 3013 Multi Cat vessels feature cutting-edge technology that enhances safety and efficiency in dredging operations. The vessels are the first Damen Multi Cats built in the U.S. and enable pipe handling work to be conducted safely on deck, reducing man overboard risks. Their design eliminates the need for additional floating support vessels, improving operational efficiency and reducing environmental impact.

Great Lakes Dredge & Dock (GLDD) reported strong Q3 2024 results with net income of $8.9 million and revenue of $191.2 million. The company achieved a record dredging backlog of $1.21 billion and was awarded $543.0 million of new work during the quarter. Notable projects include three port deepening projects and six beach renourishment projects. The company's new hopper dredge Galveston Island is operational, with sister ship Amelia Island expected in H2 2025. GLDD secured contracts for offshore wind projects and received a credit rating upgrade to B- from S&P Global.

Great Lakes Dredge & Dock (NASDAQ: GLDD) announced it will release its financial results for Q3 2024 on November 5, 2024 at 7:00 a.m. CST, followed by a conference call at 9:00 a.m. CST. The company is the largest provider of dredging services in the United States and is expanding into the offshore wind energy industry. With a 134-year history, GLDD operates approximately 200 specialized vessels and has never failed to complete a marine project. The company maintains a comprehensive training program for engineers and implements an Incident-and Injury-Free® safety management program.

Great Lakes Dredge & Dock (NASDAQ: GLDD) has announced the receipt of $342.3 million in dredging awards. The projects include:

• Sabine-Neches Waterway Channel Improvement ($219.1M)
• Canaveral Harbor Sand Bypass Project ($40.6M)
• Absecon Island Beach Renourishment ($38.2M)
• Captiva Island Beach Renourishment ($26.7M)
• Cape Cod Canal and Sandwich Beaches Renourishment ($8.9M)
• Brazos Island Harbor Dredging ($8.8M)

These projects span across Texas, Florida, New Jersey, and Massachusetts, with work expected to start between Q4 2024 and mid-2025. The company also has approximately $350 million in low bids and options pending award, potentially bringing their total pipeline to over $1.5 billion.

Great Lakes Dredge & Dock (NASDAQ: GLDD), the largest U.S. dredging services provider, announced its participation in Noble Capital Markets' Basic Industries Emerging Growth Virtual Equity Conference. Scott Kornblau, Senior VP and CFO, will present on September 25, 2024, at 9:30 AM EST. The presentation will feature a fireside Q&A, with 1x1 meetings available on September 26 for qualified investors.

Attendees can register for free to view the presentation. A video webcast will be available on the company's website and Channelchek.com for 90 days post-event. Great Lakes, with over 134 years of history, is expanding into the offshore wind energy industry and operates the largest fleet in the U.S. dredging industry with approximately 200 specialized vessels.