Great Lakes Dredge & Dock Corporation Aktie News

Great Lakes beat expectations in the first quarter and sees a robust bid market up ahead. The company is also investing to gain exposure to the emerging U.S. offshore wind market.

First quarter net income of $21.0 million First quarter adjusted EBITDA of $42.9 million Dredging backlog of $879.4 million at March 31, 2024

HOUSTON, April 30, 2024 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) today announced that it will release the financial results for its three months ended March 31, 2024 on Tuesday, May 7, 2024 at 7:00 a.m. C.D.T. A conference call with the Company will be held the same day at 9:00 a.m. C.D.T.

HOUSTON, April 24, 2024 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation ("Great Lakes" or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, announced that it has entered into a $150,000,000 5-year, senior secured second-lien credit agreement (“Second Lien Credit Agreement”) with Guggenheim Credit Funding, LLC, on behalf of one or more clien...

GLDD recently posted improved financial results for Q4 FY23, with increased contract revenues and improved margins. Despite lower annual revenue in FY23 compared to FY22, profitability improved significantly due to cost reduction actions. Technical analysis suggests that now is a good time to accumulate the stock, as it is trading near strong support levels and shows potential for a trend change.

Great Lakes beat earnings estimates and reported a dramatically higher backlog of future business. The company spent 2023 focused on pursuing higher-quality business after being hit by delays and cost issues in 2022.

Great Lakes Dredge & Dock Corporation (GLDD) Q4 2023 Earnings Call Transcript

Fourth quarter net inc ome of $21.6 million Fourth quarter adjusted EBITDA of $40.8 million Full year net inco me of $13.9 million Full year adjusted EBITDA of $73.0 million Record dredging backlog o f $1.04 billion at December 31 , 2023