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Great Lakes Dredge & Dock Corp. (GLDD)
NASDAQ:GLDD
RESEARCH TOOLSreports
Earnings Data
Report Date
May 06, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.25Last Year’s EPS
0.31Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 18, 2025
|% Change Since: -23.45%
|Next Earnings Date:May 06, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted a strong financial performance in 2024 with significant revenue and EBITDA growth, a historic bid market, and successful new vessel deployments. However, concerns were raised about increased G&A expenses, potential impacts from a court ruling, and possible delays in future bid markets. Overall, the positive aspects of strong performance and strategic market expansion outweigh the negative concerns.Company Guidance
In the fourth quarter of 2024, Great Lakes Dredge & Dock Corporation reported strong financial performance with revenues of $202.8 million and an EBITDA of $40.2 million. For the full year, the company achieved revenues totaling $762.7 million and adjusted EBITDA of $136 million, marking the second highest results in their 135-year history. The company successfully secured 33% of the $2.9 billion bid market, resulting in a substantial year-end dredging backlog of $1.2 billion and an additional $282.1 million in low bids and options pending award. This backlog is predominantly composed of large and complex projects, which now account for 94% of it. The successful delivery and commissioning of the new hopper dredge, Galveston Island, significantly contributed to the 2024 results. For 2025, the company expects to convert approximately 60% of its backlog into revenue, with a focus on capital and coastal protection projects. Additionally, they anticipate full-year capital expenditures to range between $140 million and $160 million. Looking ahead, Great Lakes is poised for continued strong performance with a robust project pipeline extending into 2026 and plans to diversify into international offshore wind and subsea infrastructure protection markets.Strong Financial Performance
Great Lakes Dredge & Dock Corporation reported fourth-quarter revenues of $202.8 million and EBITDA of $40.2 million, with full-year revenues of $762.7 million and adjusted EBITDA of $136 million, marking the second highest results in the company's 135-year history.
Historic Bid Market
The bid markets reached a historic level of $2.9 billion, with Great Lakes winning 33% of the overall bid market, resulting in a substantial dredging backlog at year-end of $1.2 billion and an additional $282.1 million in low bids and options pending award.
Successful New Vessel Commissioning
The new Hopper dredge, the Galveston Island, was delivered, commissioned, and contributed strongly to the improved results in 2024. A sister ship, the Amelia Island, is expected in the second half of this year.
Enhanced Financial Position
The company generated strong operational cash flow and entered into a $150 million second lien credit agreement, enhancing liquidity. S&P Global Ratings upgraded the company's credit rating to B minus.
Expansion into International Markets
Great Lakes is broadening its target market for the Arcadia vessel to include international offshore wind projects and protection of critical subsea infrastructure, anticipating a slowdown in the US market in 2027 and 2028.
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GLDD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GLDD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 18, 2025 | $11.00 | $8.98 | -18.36% |
| Nov 05, 2024 | $11.61 | $11.61 | 0.00% |
| Aug 06, 2024 | $8.10 | $8.56 | +5.68% |
| May 07, 2024 | $7.04 | $8.75 | +24.29% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Great Lakes Dredge & Dock Corp. (GLDD) report earnings?
Great Lakes Dredge & Dock Corp. (GLDD) is schdueled to report earning on May 06, 2025, TBA Not Confirmed.
What is Great Lakes Dredge & Dock Corp. (GLDD) earnings time?
Great Lakes Dredge & Dock Corp. (GLDD) earnings time is at May 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GLDD EPS forecast?
GLDD EPS forecast for the fiscal quarter 2025 (Q1) is 0.25.
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