The new dredging awards, backed by increased budget and spending diversity, are likely to boost GLDD's backlog and foster growth.
Great Lakes Dredge & Dock boasts a $1.2 billion backlog and strong revenue visibility, ensuring stable, long-term growth. The company is positioned to capitalize on key tailwinds, including increased LNG export demand and bipartisan federal funding. GLDD stock appears significantly undervalued, with strong growth metrics and a compelling valuation relative to its peers in the construction and engineering industry.
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD ) Q3 2024 Earnings Call November 5, 2024 10:00 AM ET Company Participants Tina Baginskis - Director, Investor Relations Lasse Petterson - President and Chief Executive Officer Scott Kornblau - Chief Financial Officer Conference Call Participants Joe Gomes - NOBLE Capital Julio Romero - Sidoti & Company Adam Thalhimer - Thompson Davis Jon Tanwanteng - CJS Operator Good day and thank you for standing by. Welcome to the Q3 2024 Great Lakes Dredge & Dock Corporation Conference Call.
Great Lakes Dredge & Dock (GLDD) came out with quarterly earnings of $0.13 per share, missing the Zacks Consensus Estimate of $0.18 per share. This compares to loss of $0.09 per share a year ago.
GLDD's third-quarter 2024 results are likely to reflect solid performance across all its dredging work types.
In the latest trading session, Great Lakes Dredge & Dock (GLDD) closed at $11.52, marking a -1.62% move from the previous day.
Great Lakes Dredge & Dock (GLDD) reachead $12.12 at the closing of the latest trading day, reflecting a +0.12% change compared to its last close.
Great Lakes Dredge & Dock (GLDD) reachead $11.53 at the closing of the latest trading day, reflecting a +0.61% change compared to its last close.
Great Lakes benefits from fleet modernization and a robust bid market. However, high costs and expenses and commodity price risks hurt prospects.
In the latest trading session, Great Lakes Dredge & Dock (GLDD) closed at $11.62, marking a -0.09% move from the previous day.
In the closing of the recent trading day, Great Lakes Dredge & Dock (GLDD) stood at $11.27, denoting a -0.62% change from the preceding trading day.
Great Lakes gains on the further boost in backlog after receiving several dredging awards worth $342.3 million.