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Great Lakes Dredge & Dock (GLDD)
Fourth Strong Quarter In A Row. Backlog Rebound Ahead.
Great Lakes Dredge & Dock Corp is a provider of dredging services in the United States. The Company operates in two operating segments namely Dredging and Environmental, and Infrastructure.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
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- The streak of four strong quarters stays intact. 2Q2019 revenue of $184.8 million and EBITDA of $32.0 million were ahead of our estimates of $180.0 million and $27.5 million, respectively. Execution remained solid with gross margins of 20.3% and EBITDA margin of 15.3%.
Sale of Environmental & Industrial (E&I) completed for $17.5 million. Now a pure play dredging company.
- Flatter than normal 2H2019 outlook due to equipment downtime. To reflect the positive quarterly variance, our 2019 EBITDA estimate moves to...
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 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.