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 (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.
Great Lakes Dredge & Dock (NASDAQ: GLDD), the largest dredging services provider in the United States, announced its participation in the Sidoti Small-Cap Virtual Investor Conference on September 18, 2024. Scott Kornblau, Senior VP and CFO, will present at 3:15 PM ET and host one-on-one investor meetings.
Great Lakes, with a 134-year history, is expanding into the offshore wind energy industry. The company owns a diverse fleet of 200 specialized vessels and employs experienced engineering staff. Great Lakes emphasizes its Incident-and Injury-Free® (IIF®) safety management program throughout its operations.
The Sidoti conference, organized by Sidoti Events, , focuses on small and microcap companies, providing a platform for meaningful interaction between issuers and interested investors.
Great Lakes Dredge & Dock (NASDAQ: GLDD), the largest U.S. dredging services provider, announced its participation in Noble Capital Markets' C-Suite Interview Series. The interview, available on Channelchek, features CEO Lasse Petterson, CFO Scott Kornblau, and SVP of Offshore Wind Eleni Beyko discussing key topics including:
- Updates on the Acadia vessel and its competitive advantages
- Challenges and opportunities in the domestic and international offshore wind markets
- Overview of the dredging market and future challenges
- The company's expansion into the offshore wind energy industry
Great Lakes, with its 134-year history and fleet of 200 specialized vessels, is positioning itself in the growing offshore wind sector while maintaining its core dredging business.
Great Lakes Dredge & Dock (NASDAQ: GLDD) announced that S&P Global Ratings has upgraded the company's issuer credit rating to 'B-' from 'CCC+'. The upgrade is based on improved revenue and profitability in the first half of 2024, as well as a strong backlog and recent awards that provide visibility into improved cash flows through 2025. S&P expects Great Lakes to continue expanding revenue and improving profitability throughout the remainder of 2024 and into 2025.
Scott Kornblau, Great Lakes' Senior VP and CFO, stated that the upgrade validates their efforts and positions the company for future growth and success. Great Lakes is the largest provider of dredging services in the US and is expanding into the offshore wind energy industry.
Great Lakes Dredge & Dock (NASDAQ: GLDD) has announced the receipt of $256.2 million in dredging awards. The projects include:
- Mobile Harbor Deepening ($65.9M)
- Port Everglades Sand Bypass ($59.8M)
- Long Beach Island Beach Renourishment ($54.4M)
- Fire Island Inlet Dredging ($52.0M)
- North Wildwood Emergency Beach Renourishment ($14.8M)
- St. Lucie Inlet Maintenance Dredging ($9.3M)
These projects span capital, coastal protection, and maintenance work, supporting infrastructure and coastline improvements. The company also has $318 million in low bids and options pending award, potentially bringing their total work pipeline to over $1.2 billion.
Great Lakes Dredge & Dock (GLDD) reported solid financial results for Q2 2024.
Key highlights include:
- Revenue: $170.1 million, a $37.4 million increase YoY
- Net Income: $7.7 million, a $6.0 million improvement YoY
- Adjusted EBITDA: $25.8 million
- Dredging Backlog: $807.9 million
CEO Lasse Petterson highlighted strong project performance despite having three dredges in drydock and mentioned significant ongoing projects like the Freeport Deepening and Sabine-Neches Waterway Channel Improvement.
Great Lakes secured new financing of $150 million, enhancing liquidity. The offshore wind backlog stands at $44.6 million, with substantial future opportunities.
The company continues its U.S. offshore wind market expansion with the construction of the Acadia vessel, expected in late 2025, and is actively bidding on multiple projects domestically and internationally.
Total capital expenditures for Q2 2024 reached $51.3 million, significantly higher than the previous year.
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