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Great Lakes Dredge & Dock Corporation is a dredging-services company that became a wholly owned subsidiary of Saltchuk Resources after a completed cash acquisition in 2026. News about GLDD centers on the completed tender offer and merger, the end of Nasdaq trading in its common stock, delisting and deregistration steps, and debt tender-offer and consent-solicitation activity tied to its senior notes.
Coverage also includes transaction-related shareholder matters, material agreements, operating and financial results, capital-structure disclosures, and corporate governance updates.
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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