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 Corporation (GLDD) will release its financial results for the three and six months ending June 30, 2022, on August 2, 2022, at 7:00 a.m. CDT. Following the release, a conference call is scheduled for the same day at 9:00 a.m. CDT, where investors can pre-register for immediate access. Known as the largest dredging service provider in the U.S., Great Lakes is expanding into the offshore wind energy sector and boasts a diverse fleet of about 200 vessels, ensuring a commitment to safety through its Incident-and Injury-Free® program.
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) announced the appointment of David Johanson as SVP, Project Acquisition & Operations, and Christopher G. Gunsten as SVP, Project Services & Fleet Engineering, effective August 1, 2022. This follows the retirement announcement of COO David E. Simonelli, scheduled for September 16, 2022. Johanson has been with Great Lakes since 1994, while Gunsten has served since October 2021. Both executives bring extensive experience to their new roles as the company continues to expand its operations.
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) announced its participation in Noble Capital Markets' C-Suite Interview Series. In the interview, President & CEO Lasse Petterson and SVP Eleni Beyko discussed the company's new offshore wind division, associated market opportunities, and challenges. Key topics included the rock installation vessel under construction, the impact of the Jones Act on competition, and growth drivers in the dredging market. This initiative highlights Great Lakes' commitment to expanding in the offshore wind energy sector while leveraging its extensive fleet and engineering expertise.
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) announces the retirement of Chief Operating Officer David E. Simonelli, effective September 16, 2022. With 44 years at Great Lakes, Simonelli has significantly impacted project safety and environmental protection. He served as President of the Dredging Division and COO, known for his leadership and fostering a safety culture in the dredging industry. Post-retirement, he will offer consulting services, ensuring a smooth transition as the company aims to enhance its market growth, especially in the offshore wind sector.
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) has announced the exercise of a contract option to construct a second 6,500-cubic-yard-capacity Trailing Suction Hopper Dredge with Conrad Shipyard, expected to be delivered by Q1 2025. This vessel will complement the Galveston Island dredge currently under construction. CEO Lasse Petterson emphasized the strategic investment in the fleet to enhance capabilities for various projects, including channel deepening and coastal restoration. The dredge will feature environmentally-friendly technologies, showcasing the company's commitment to sustainable operations.
Great Lakes Dredge & Dock reported first-quarter 2022 earnings with a net income of $11.1 million and adjusted EBITDA of $29.7 million. Revenue reached $194.3 million, reflecting a year-over-year increase of $16.7 million. The backlog stood at $473.5 million as of March 31, 2022. Challenges included weather-related delays and ongoing COVID-19 costs, impacting production. A significant contract for subsea rock installation for the Empire Wind I and II project was secured, anticipating long-term growth opportunities in offshore wind development.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) has been awarded its first offshore wind rock installation contract for the Empire Wind I and II projects, a joint venture by Equinor and bp. The projects will generate over 2 GW of renewable energy for New York. Great Lakes will utilize the first Jones Act compliant subsea rock installation vessel, enhancing U.S. offshore wind capabilities. The initiative supports local employment and economic growth, marking a significant step for the offshore wind industry in the U.S.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) will announce its financial results for the quarter ending March 31, 2022, on May 3, 2022, at 7:00 a.m. C.D.T. Following this, a conference call will take place at 9:00 a.m. C.D.T., accessible via call-in or on the company’s website. Established over 131 years ago, Great Lakes is the largest U.S. dredging service provider, known for its significant international projects and commitment to safety through its Incident-and Injury-Free® program.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) has announced a significant agreement with Texas A&M University to support the establishment of the Great Lakes Dredge & Dock Laboratory of Dredging and Coastal Studies. This partnership aims to enhance research and technical support in coastal engineering. The collaboration underscores Great Lakes' commitment to education and the ocean engineering profession and is expected to strengthen their longtime relationship with the university. Both parties expressed excitement about the potential advancements in dredging and coastal studies.
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) announced multiple major dredging awards totaling $132.3 million. Key projects include:
- Rockaway Inlet Beach Fill (New York, $37.2 million)
- South Atlantic Division Harbor Dredging (Georgia, North Carolina, South Carolina, $25.8 million)
- Avon Village Beach Nourishment (North Carolina, $25.9 million)
- Carolina and Kure Beaches Project (North Carolina, $20.3 million)
- Jacksonville Harbor Dredging (Florida, $11.5 million)
- Nags Head Beach Renourishment (North Carolina, $11.6 million)
Work on these projects will help improve coastal resilience and is expected to commence between mid-2022 and fall 2022.
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