Here are the 10-K annual reports from Great Lakes Dredge & Dock Corporation (GLDD) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow GLDD and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GLDD filings page.
Great Lakes Dredge & Dock Corporation filed an amended annual report that leaves 2025 results unchanged and primarily adds the auditor’s conformed signature. For 2025, the company generated $888.3 million in contract revenues and $73.5 million in net income, with basic earnings per share of $1.10, up from $0.85 in 2024. Operating cash flow rose sharply to $246.7 million, supporting heavy capital spending of $147.2 million and repayment of second-lien debt. Year-end total assets were $1.29 billion, with long-term debt of $378.2 million and equity of $517.1 million.
The notes highlight a Merger Agreement with Saltchuk Resources, under which a subsidiary of Saltchuk plans to launch a tender offer to acquire all outstanding shares at $17.00 per share, followed by a merger that would make Great Lakes a wholly owned subsidiary and lead to Nasdaq delisting. Closing is expected in the second quarter of 2026, subject to customary conditions, including a majority tender and required antitrust clearance. The agreement includes a termination fee of approximately $37 million payable to Saltchuk under specified circumstances.
Great Lakes Dredge & Dock Corporation, the largest U.S. dredging services provider, outlines its single-segment dredging business and growing offshore energy operations. Dredging generated 97% of 2025 revenue, led by deep port capital work and coastal protection, with the company holding a three-year average U.S. bid market share of 29%.
The company has agreed to be acquired by Saltchuk Resources via a tender offer at $17.00 per share, followed by a merger that will make Great Lakes a wholly owned subsidiary and lead to delisting from Nasdaq, subject to a majority tender and antitrust clearance. It is also investing in offshore energy through the Acadia, a Jones Act subsea rock installation vessel launched in July 2025 and expected to be operational in the first half of 2026, backed by U.S. wind contracts and initial European offshore wind awards.