Great Lakes Dredge & Dock (GLDD) Finally Turns The Corner [Forbes]
Great Lakes Dredge & Dock Corporation (GLDD)
Last great lakes dredge & dock corporation earnings: 2/19 08:00 am
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Source: Forbes
Shares of Great Lakes Dredge & Dock (GLDD) had a fantastic day today, surging nearly 18% on the back of strong quarterly results reported by the company this morning. Specifically, while Q4 2023 contract revenues of $181.7 million came in a hair below the $183.5 million consensus view, this finally marked a return to growth after six consecutive quarters of declines with the top line rising 23.9% year-over-year as increased coastal protection and maintenance project activity more than made up for a decrease in rivers and lakes project work. And further boosted by a favorable shift in mix to higher-margin projects, GLDD's continued focus on cost reduction, improved utilization and fewer drydockings, the company went from losing 47 cents in Q4 of 2023 to earning 32 cents, which was significantly better than the 10-cent profit projected by the Street. While it should be noted that the bottom line benefited from a $7.4 million termination payment stemming from the now canceled Empire I
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GLDD
News
- Great Lakes Dredge & Dock Co. (NASDAQ: GLDD) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- New Strong Buy Stocks for May 13th [Yahoo! Finance]Yahoo! Finance
- Great Lakes Dredge & Dock Co. (NASDAQ: GLDD) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Great Lakes Dredge & Dock First Quarter 2024 Earnings: Beats Expectations [Yahoo! Finance]Yahoo! Finance
GLDD
Earnings
- 5/7/24 - Beat
GLDD
Analyst Actions
- 2/21/24 - TheStreet
GLDD
Sec Filings
- 5/14/24 - Form 8-K
- 5/13/24 - Form 8-K
- 5/7/24 - Form 10-Q
- GLDD's page on the SEC website