Tuesday, July 7, 2020

Great Lakes Dredge & Dock (GLDD)

New Awards total $51.1 million. Positive Dredging Market Outlook Intact.

Great Lakes Dredge & Dock Corp is a provider of dredging services in the United States. The company only's operating segments is Dredging. Dredging involves the enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Its projects portfolio includes Coastal Restoration, Coastal Protection, Port expansion, and others.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Several awards announced. Total awards of $51.1 million include Coastal Protection work of $44.0 million and Maintenance work of $7.1 million. Please see page two for more details.

No change in dredging market outlook, but competition has increased. The recent backlog trend has been down and backlog has dropped over the past two quarters to $475 million, but smaller projects have successfully sustained operating results, including a record 1Q2020. News expected this quarter on several large opportunities and ...

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report.  NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.