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Thursday, January 02, 2020
Great Lakes Dredge & Dock (GLDD)
Yearend Awards Total $83 million - Large Potential Awards on Horizon
Great Lakes Dredge & Dock is a marine and environmental infrastructure contractor, and the largest dredging company in the United States. Headquartered in suburban Chicago, the company provides port expansion and maintenance, coastal restoration, river dredging and environmental restoration for public and private entities worldwide. In June 2019, the Environmental & industrial (E&I) business was sold for $17.5 million in cash and the company is now a pure play on the dredging market.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Major awards of $83 million announced at yearend. Late on Monday, the following five awards that total $83 million were announced. We previously highlighted the Delaware River and Tybee Island projects and view the additional awards as positive. All projects are short-term and help fill in the near-term project pipeline, with completion dates in 1H2020.
Larger projects are on horizon. News expected on Corpus Christi in late January, Brownsville in late 1Q2020 and Jacksonville C in 3Q/4Q2020. Major work in Houston is...
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.