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), 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.
Great Lakes Dredge & Dock (NASDAQ: GLDD) has announced the scheduled release of its financial results for Q2 2024 on Tuesday, August 6, 2024, at 7:00 a.m. CDT. A conference call will follow at 9:00 a.m. CDT on the same day. Investors and analysts are encouraged to pre-register for the call using a provided link. The company, the largest provider of dredging services in the United States, is also expanding into the offshore wind energy industry. With a 134-year history and a fleet of about 200 specialized vessels, Great Lakes emphasizes its commitment to safety through its Incident-and Injury-Free® (IIF®) program.
Great Lakes Dredge & Dock (GLDD), the largest provider of dredging services in the U.S., will present at Sidoti’s Virtual Investor Conference on June 13, 2024. CEO Lasse Petterson and CFO Scott Kornblau will lead the presentation and host one-on-one meetings. The presentation starts at 12:15 ET and can be accessed via a provided Zoom link. Great Lakes has a long history of completing major marine projects and is expanding into the offshore wind energy sector. The company operates a fleet of around 200 specialized vessels and emphasizes a strong safety culture.
Great Lakes Dredge & Dock (GLDD) reported strong financial results for the first quarter of 2024 with a net income of $21.0 million, adjusted EBITDA of $42.9 million, and a dredging backlog of $879.4 million. Revenue was $198.7 million, representing an increase of $40.7 million from the first quarter of 2023. The company continues to secure significant projects, particularly in the LNG and offshore wind markets, positioning itself for future growth. GLDD also entered into a $150 million credit agreement to support its new build program and enhance liquidity.
Great Lakes Dredge & Dock (GLDD) will announce its financial results for the first quarter of 2024 on May 7, 2024. The company, a leading dredging services provider in the U.S., is expanding into offshore wind energy. With a strong history of successful international projects and a focus on safety, GLDD is poised for growth.
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