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.
Overview
Great Lakes Dredge & Dock Corp (GLDD) is a storied and diversified provider of dredging and marine construction services, with a legacy that spans over 127 years. Operating the largest and most diverse dredging fleet in the United States, GLDD brings unparalleled expertise in advancing navigational safety, coastal restoration, and infrastructure improvements. Utilizing advanced dredging technology and marine engineering solutions, the company consistently executes complex projects that support both coastal and inland waterways.
Core Business Areas
At its core, GLDD excels in:
- Dredging Operations: Enhancing and maintaining navigability of waterways through the removal or replenishment of soil, sand, or rock. These operations are critical for coastal restoration, harbor deepening, and inland dredging projects.
- Marine Construction: Implementing large-scale projects that protect shorelines and support port and harbor infrastructure. The company’s engineering expertise extends to designing and executing projects that counteract the forces of nature.
- Environmental Remediation and Infrastructure: Through its Great Lakes Environmental & Infrastructure segment, the company addresses environmental challenges and pioneers solutions for water and land-based infrastructure improvements.
- Offshore Energy Initiatives: Recently, GLDD has broadened its service offerings to include projects in the offshore energy sector. This diversification highlights the company’s commitment to maintaining relevance across evolving market sectors while employing its expertise in subsea construction and marine operations.
Operational Excellence and Competitive Position
GLDD’s operational strategy is built on a foundation of technical expertise and innovation. The company’s expansive fleet of specialized vessels is not only the largest in the United States but also one of the most diverse globally. This extensive asset base supports a wide range of projects—from coastal protection and navigation improvement to sophisticated offshore wind-related endeavors. By consistently delivering high-quality project execution, GLDD has affirmed its competitive advantage even in a market characterized by stringent regulatory standards and dynamic operational challenges.
Market Significance and Industry Impact
GLDD occupies a unique position in the U.S. market as the only company with significant international dredging operations, which provides a diversified geographical footprint. The company plays a pivotal role in servicing government contracts, including those awarded by the U.S. Army Corps of Engineers, and remains a trusted partner for both public and private sector entities. Its integration into offshore energy projects further reinforces GLDD's contribution to national infrastructure and renewable energy initiatives, blending traditional marine construction with emerging energy solutions.
Industry Expertise and Technological Edge
Utilizing a combination of cutting-edge dredge technology and sustainable engineering practices, GLDD has streamlined its operating processes to consistently meet rigorous project specifications. The company’s approach is grounded in decades of practical experience, market insight, and a commitment to maintaining rigorous safety and environmental standards. This produces a robust operational model that not only addresses immediate infrastructural needs but also adapts to long-term market trends within the dredging and marine construction sectors.
Conclusion
In summary, Great Lakes Dredge & Dock Corp is a multifaceted operator within the dredging and marine construction industry. Its comprehensive service offering—from enhancing waterway navigability to executing complex offshore energy installations—demonstrates an adaptive business model rooted in historical expertise and supported by state-of-the-art technology. For investors seeking a deep dive into the operational dynamics of a company with a vast and influential presence in the U.S. infrastructure landscape, GLDD provides a compelling profile built on a storied past and a breadth of practical applications in modern engineering and construction initiatives.
Great Lakes Dredge & Dock (NASDAQ: GLDD), America's largest dredging services provider, has announced its participation in the upcoming Sidoti Small Cap Virtual Conference. Scott Kornblau, Senior Vice President and CFO, will present on March 19, 2025, at 10:00 AM ET and conduct one-on-one investor meetings.
The presentation will be accessible via a live webcast through Sidoti's platform and the company's investor relations website. As the leading U.S. dredging services provider with significant international project experience, GLDD operates the nation's largest and most diverse dredging fleet of approximately 200 specialized vessels.
The company, with over 135 years of marine project expertise, maintains a strong focus on engineering excellence through its comprehensive training program and has never failed to complete a marine project. GLDD emphasizes workplace safety through its Incident-and Injury-Free® (IIF®) safety management program, which is integrated throughout the company's culture.
Great Lakes Dredge & Dock (NASDAQ: GLDD) reported strong financial results for Q4 and full year 2024. The company achieved Q4 revenue of $202.8 million with net income of $19.7 million and Adjusted EBITDA of $40.2 million. For the full year 2024, revenue reached $762.7 million with net income of $57.3 million and Adjusted EBITDA of $136.0 million.
The company's dredging backlog stood at $1.2 billion as of December 31, 2024, with an additional $282.1 million in low bids and options pending award. Capital and coastal protection projects accounted for 94% of the backlog. The 2024 bid market reached a historic level of $2.9 billion, of which Great Lakes won 33%.
The company's first U.S.-flagged subsea rock installation vessel, the Acadia, is under construction and has secured offshore wind rock placement contracts. Total capital expenditures for 2024 were $135.7 million, including $72.7 million for the Acadia's construction.
Great Lakes Dredge & Dock (NASDAQ: GLDD) has announced it will release its financial results for Q4 and full-year 2024 on Tuesday, February 18, 2025 at 7:00 a.m. CST. The company will host a conference call at 9:00 a.m. CST on the same day.
Great Lakes is the largest provider of dredging services in the United States, with a fleet of approximately 200 specialized vessels. The company is expanding into the offshore energy industry and has experience in international projects. Throughout its 135-year history, Great Lakes has maintained a perfect record of marine project completion.
The company emphasizes its Incident-and Injury-Free® safety management program and maintains a structured training program for engineers to ensure experience-based performance advancement.
Great Lakes Dredge & Dock (NASDAQ: GLDD), the largest U.S. dredging services provider, announced the election of Dana Armstrong to its Board of Directors effective January 5, 2025. This appointment increases the board size to seven members.
Armstrong currently serves as Executive Vice President and CFO of Excelerate Energy (NYSE:EE) since 2020. Her prior experience includes CFO roles at Scientific Drilling International (2015-2020) and financial positions at Ion Geophysical (2007-2015). She holds accounting and finance degrees from the University of Houston and is a CPA in Texas.
Great Lakes, with its 134-year history, specializes in dredging services and is expanding into offshore wind energy. The company operates approximately 200 specialized vessels and maintains a comprehensive engineering training program alongside its Incident-and Injury-Free® safety management system.
Great Lakes Dredge & Dock (NASDAQ: GLDD), America's largest dredging services provider, has announced its participation in the CJS Securities 25th Annual New Ideas for the New Year Virtual Conference. Senior Vice President and CFO Scott Kornblau will present on Tuesday, January 14, 2025, at 3:05 PM ET, with the presentation accessible via live webcast.
The company, with over 134 years of marine project experience, is expanding into the offshore wind energy industry while maintaining its position as the leading U.S. dredging service provider. Great Lakes operates the nation's largest and most diverse dredging fleet, comprising approximately 200 specialized vessels. The company emphasizes safety through its Incident-and Injury-Free® (IIF®) program and maintains a structured training program for engineers to ensure experience-based performance advancement.
Great Lakes Dredge & Dock (NASDAQ: GLDD) has secured multiple dredging contracts totaling $182 million. The awards include four major coastal protection projects: $73.6 million for Manasquan Inlet to Barnegat Inlet in New Jersey, $72.3 million for Myrtle Beach in South Carolina, $19.6 million for Sagaponack and Bridgehampton Beach in New York, and $16.5 million for Phipps Ocean Park in Florida.
The projects focus on beach renourishment and coastal storm damage reduction, with work schedules spanning from late 2024 through early 2026. The New Jersey project includes additional $41.4 million in pending options. Most projects are federally funded through the U.S. Army Corps of Engineers, with some receiving state and local funding.
Great Lakes Dredge & Dock (NASDAQ: GLDD), America's largest dredging services provider, will participate in NobleCon20 on December 3, 2024. CEO Lasse Petterson and CFO Scott Kornblau will present at 10:30 AM EST at Florida Atlantic University, Boca Raton.
A high-definition video webcast will be available the following day on the company's investor relations website and Noble Capital Markets' platforms, remaining accessible for 90 days. Great Lakes, with its 134-year history, specializes in dredging services and is expanding into offshore wind energy. The company operates approximately 200 specialized vessels and maintains a strong focus on safety through its Incident-and-Injury-Free® program.
Great Lakes Dredge & Dock (NASDAQ: GLDD) announced that its new Multi Cat dredge support vessels, Cape Hatteras and Cape Canaveral, have won the prestigious 2024 Significant Boat of the Year award at the International WorkBoat Show. Built by Conrad Shipyard, these 99-foot Damen 3013 Multi Cat vessels feature cutting-edge technology that enhances safety and efficiency in dredging operations. The vessels are the first Damen Multi Cats built in the U.S. and enable pipe handling work to be conducted safely on deck, reducing man overboard risks. Their design eliminates the need for additional floating support vessels, improving operational efficiency and reducing environmental impact.
Great Lakes Dredge & Dock (GLDD) reported strong Q3 2024 results with net income of $8.9 million and revenue of $191.2 million. The company achieved a record dredging backlog of $1.21 billion and was awarded $543.0 million of new work during the quarter. Notable projects include three port deepening projects and six beach renourishment projects. The company's new hopper dredge Galveston Island is operational, with sister ship Amelia Island expected in H2 2025. GLDD secured contracts for offshore wind projects and received a credit rating upgrade to B- from S&P Global.
Great Lakes Dredge & Dock (NASDAQ: GLDD) announced it will release its financial results for Q3 2024 on November 5, 2024 at 7:00 a.m. CST, followed by a conference call at 9:00 a.m. CST. The company is the largest provider of dredging services in the United States and is expanding into the offshore wind energy industry. With a 134-year history, GLDD operates approximately 200 specialized vessels and has never failed to complete a marine project. The company maintains a comprehensive training program for engineers and implements an Incident-and Injury-Free® safety management program.
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