Movers and SHAKERS
Great Lakes Dredge & Dock (GLDD)
Third Strong Quarter in a Row - 2019 Off to a Great Start.
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.
Refer to full report for price target, fundamental analysis and rating.
- Staying on track with another quarter of strong execution. For the third quarter in a row, dredging operating results were strong. Adjusted dredging EBITDA of $43.8 million soundly beat our $26.4 million estimate and was well above 1Q2018 adjusted EBITDA of $16.6 million. Continued solid project execution and two unexpected events (~$15 million) had a positive impact.
- Increasing 2019 EBITDA estimate.
Improved execution and dredging market strength reinforces positive outlook. Our 2019 EBITDA estimate moves to $126.1 million from
$120.1 million to reflect the st...
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