Thursday, October 07, 2021

Great Lakes Dredge & Dock (GLDD)
Smooth CFO Transition Underway and Another Low Bid Out

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.

Smooth CFO transition underway. We caught up yesterday with Scott Kornblau who recently joined as SVP and CFO. Based on our meeting, we believe that Scott is a great addition to the executive team, and his 20-plus years of experience, including CFO at Diamond Offshore Drilling, has made the transition smooth. The change was driven by the HQ relocation, and Scott is already up and running in Houston. We expect no changes to the current strategic direction, including moving into offshore wind. We will miss the former CFO, but look forward to working with Scott.


Another low bid out.  Bids on South Atlantic Regional Harbor Dredging (W912PM21B0008) were opened on Tuesday afternoon and GLDD was the low bidder at $29.4 million. The IGE was $28.3 million and Manson bid $31.6 million. The work includes work at five harbors along the east coast and is broken down as follows: $8.3 million for Morehead City, $4.6 million for Wilmington, $4.5 million for Brunswick …

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. 

Great Lakes Dredge & Dock Corporation Appoints Scott Kornblau as Senior Vice President and Chief Financial Officer

 

HOUSTON, Oct. 01, 2021 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Co. (NASDAQ:GLDD), the nation’s largest provider of dredging servicers, has appointed Scott Kornblau as its Senior Vice President and Chief Financial Officer effective immediately.

In his role, Kornblau will be responsible for overseeing the company’s financial operations including investor relations and strategic and profitable growth opportunities, while managing various accounting functions and information technology. Based in Houston, he will serve on the company’s executive team and report to the President and Chief Executive Officer, Lasse Petterson. He succeeds Mark Marinko who has left the company to pursue other opportunities in the Chicago area.

“Scott brings more than two decades of both financial and industry experience to his role at GLDD and I’m pleased to welcome him to our leadership team,” said Petterson. “Our company has seen exponential growth over the last few years and I’m confident Scott’s multidisciplinary leadership will contribute to and elevate our strategic plan.”

Prior to joining GLDD, Kornblau held various finance and leadership positions at Diamond Offshore Drilling, Inc., and most recently served Senior Vice President and Chief Financial Officer.

“I’m grateful to further my career at GLDD and continue executing its strategic plan for accelerated growth and delivering value to stakeholders,” said Kornblau. “I look forward to working with the entire GLDD team to further the company’s momentum and proud history in the industry.”

Kornblau graduated from the University of Texas at Austin with a degree in accounting and is a licensed Certified Public Accountant in the State of Texas.

The Company

Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) is the largest provider of dredging services in the United States. In addition, the Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 131-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprising over 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking” statements as defined in Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), the Private Securities Litigation Reform Act of 1995 (the “PSLRA”) or in releases made by the Securities and Exchange Commission (the “SEC”), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Great Lakes and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. These cautionary statements are being made pursuant to the Exchange Act and the PSLRA with the intention of obtaining the benefits of the “safe harbor” provisions of such laws. Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future events.

Although Great Lakes believes that its plans, intentions and expectations reflected in this press release are reasonable, actual events could differ materially. The forward-looking statements contained in this press release are made only as of the date hereof and Great Lakes does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.

For further information contact:
Tina Baginskis
Director, Investor Relations
630-574-3024

Great Lakes Dredge & Dock Corporation Appoints Scott Kornblau as Senior Vice President and Chief Financial Officer

 

HOUSTON, Oct. 01, 2021 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Co. (NASDAQ:GLDD), the nation’s largest provider of dredging servicers, has appointed Scott Kornblau as its Senior Vice President and Chief Financial Officer effective immediately.

In his role, Kornblau will be responsible for overseeing the company’s financial operations including investor relations and strategic and profitable growth opportunities, while managing various accounting functions and information technology. Based in Houston, he will serve on the company’s executive team and report to the President and Chief Executive Officer, Lasse Petterson. He succeeds Mark Marinko who has left the company to pursue other opportunities in the Chicago area.

“Scott brings more than two decades of both financial and industry experience to his role at GLDD and I’m pleased to welcome him to our leadership team,” said Petterson. “Our company has seen exponential growth over the last few years and I’m confident Scott’s multidisciplinary leadership will contribute to and elevate our strategic plan.”

Prior to joining GLDD, Kornblau held various finance and leadership positions at Diamond Offshore Drilling, Inc., and most recently served Senior Vice President and Chief Financial Officer.

“I’m grateful to further my career at GLDD and continue executing its strategic plan for accelerated growth and delivering value to stakeholders,” said Kornblau. “I look forward to working with the entire GLDD team to further the company’s momentum and proud history in the industry.”

Kornblau graduated from the University of Texas at Austin with a degree in accounting and is a licensed Certified Public Accountant in the State of Texas.

The Company

Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) is the largest provider of dredging services in the United States. In addition, the Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 131-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprising over 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking” statements as defined in Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), the Private Securities Litigation Reform Act of 1995 (the “PSLRA”) or in releases made by the Securities and Exchange Commission (the “SEC”), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Great Lakes and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. These cautionary statements are being made pursuant to the Exchange Act and the PSLRA with the intention of obtaining the benefits of the “safe harbor” provisions of such laws. Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future events.

Although Great Lakes believes that its plans, intentions and expectations reflected in this press release are reasonable, actual events could differ materially. The forward-looking statements contained in this press release are made only as of the date hereof and Great Lakes does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.

For further information contact:
Tina Baginskis
Director, Investor Relations
630-574-3024

Thursday, September 30, 2021

Great Lakes Dredge & Dock (GLDD)
3Q2021 Awards Exceed $300 million After Three New Awards

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.

Attractive award of $25.6 million posted late yesterday. The $25.6 million award for maintenance dredging of Portsmouth Harbor and Piscataqua River was posted on the DoD web site after the market closed yesterday. Work should start later this year and be completed in 1Q2022. The award is positive and there could be some added efficiencies since GLDD is currently working in the Boston Harbor.


Second award of $11.3 million posted earlier this week.  According to the government contracting web site, the Coastal Storm Risk Management Project in South Hutchinson Island, Florida was awarded to GLDD for $11.3 million. The work includes constructing a beach berm and planting dune vegetation to limit erosion …

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. 

Great Lakes Announces Partnership with Project Vesta

 

HOUSTON, Sept. 29, 2021 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (“Great Lakes”) (NASDAQ: GLDD), the largest provider of dredging services in the United States announced today a first-of-its-kind partnership with Project Vesta, a clean technology pioneer developing a new way to use sand to remove excess carbon dioxide from the atmosphere.

“We are committed to robustly furthering the science of Coastal Carbon Capture,” said Tom Green, CEO of Project Vesta. “Our partnership with Great Lakes will enable us to accelerate our research and help coastal communities fight both the cause and symptoms of climate change.”

Known as “Coastal Carbon Capture”, Project Vesta’s method accelerates the earth’s natural carbon removal process by using a natural rock turned into carbon-removing sand. According to a report by the National Academy of Sciences, this technique has the potential to remove billions of tons of carbon dioxide from the atmosphere and reduce ocean acidification. Its newly discovered potential has been heralded by universities and major scientific institutions, and has been highlighted in The New York Times, The Guardian, Popular Science and The Atlantic.

 “This partnership will help make Great Lakes a more effective participant in the effort to address coastal erosion and climate change impacts,” said Great Lakes’ Senior Vice President Bill Hanson. “We are proud to raise the bar on climate-change fighting technologies, and invite others in the coastal resilience industry to join this important cause.” 

Great Lakes is the first member of the global dredging industry to announce participation in Project Vesta’s initiative and represents a bold new sustainability approach. The two organizations will pursue joint research goals and develop new methods for the safe, effective use of coastal carbon capture.

The Company

Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) is the largest provider of dredging services in the United States. In addition, the Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 131-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprising over 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking” statements as defined in Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), the Private Securities Litigation Reform Act of 1995 (the “PSLRA”) or in releases made by the Securities and Exchange Commission (the “SEC”), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Great Lakes and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. These cautionary statements are being made pursuant to the Exchange Act and the PSLRA with the intention of obtaining the benefits of the “safe harbor” provisions of such laws. Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future events.

Although Great Lakes believes that its plans, intentions and expectations reflected in this press release are reasonable, actual events could differ materially. The forward-looking statements contained in this press release are made only as of the date hereof and Great Lakes does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.

For further information contact:
Tina Baginskis
Director, Investor Relations
630-574-3024

 

Orion Group Holdings, Inc. Announces Contract Awards of Nearly $200 Million

 

HOUSTON–(BUSINESS WIRE)–Sep. 29, 2021– 
Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”) a leading specialty construction company, today announced two contract awards for its Marine segment totaling nearly 
$200 million.

The Company has been awarded a contract valued at approximately 
$125 million from the 
Florida Department of Transportation (FDOT) to replace the 
State Road 405 
Indian River Bridge over the NASA Causeway near 
Cape Canaveral, Florida. This bridge provides the main access to 
Kennedy Space Center and 
Cape Canaveral Space Force Center. The work is expected to commence during the fourth quarter of 2021 and be completed in the fourth quarter of 2024.

In addition, the Company has been awarded a contract valued at approximately 
$67 million from the 
Port of Port Arthur to construct the Berth 6 
Expansion Project in 
Port Arthur, Texas, that will allow for significant additional berthing capacity at the Port. The project is expected to commence in the fourth quarter of 2021 and be completed in the third quarter of 2024.

“Orion has a strong track record of helping modernize and upgrade critical infrastructure,” said  Mark Stauffer, Orion’s President and Chief Executive Officer. “The NASA Causeway project marks our fourth bridge project to be awarded recently, and along with the Berth 6 Expansion, not only provides significant backlog to our Marine segment, but reaffirms Orion as a leading contractor for building and rebuilding our nation’s infrastructure.”

About Orion Group Holdings

Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental 
United States, 
Alaska, 
Canada and the 
Caribbean Basin through its marine segment and its concrete segment. The Company’s marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The Company is headquartered in 
Houston, Texas with regional offices throughout its operating areas.

Forward-Looking Statements

The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the provisions of which the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as ‘believes’, ‘expects’, ‘may’, ‘will’, ‘could’, ‘should’, ‘seeks’, ‘approximately’, ‘intends’, ‘plans’, ‘estimates’, or ‘anticipates’, or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, outlook, assumptions, or goals. In particular, statements regarding future operations or results, including those set forth in this press release and any other statement, express or implied, concerning future operating results or the future generation of or ability to generate revenues, income, net income, profit, EBITDA, EBITDA margin, or cash flow, including to service debt, and including any estimates, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward looking statements also include estimated project start date, anticipated revenues, and contract options which may or may not be awarded in the future. Forward looking statements involve risks, including those associated with the Company’s fixed price contracts that impacts profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints and any potential contract options which may or may not be awarded in the future, and are the sole discretion of award by the customer. Past performance is not necessarily an indicator of future results. In light of these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company’s plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise.

Please refer to the Company’s Annual Report on Form 10-K, filed on 
March 2, 2021, which is available on its website at www.oriongroupholdingsinc.com or at the SEC’s website at www.sec.gov, for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts.

Orion Group Holdings Inc.
Francis Okoniewski, Vice President Investor Relations
(346) 616-4138
[email protected]
www.oriongroupholdingsinc.com

Robert Tabb, Executive Vice President & CFO
(713) 852-6500
www.oriongroupholdingsinc.com

Source: 
Orion Group Holdings, Inc.

 

Orion Group Holdings, Inc. Announces Contract Awards of Nearly $200 Million

 

HOUSTON–(BUSINESS WIRE)–Sep. 29, 2021– 
Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”) a leading specialty construction company, today announced two contract awards for its Marine segment totaling nearly 
$200 million.

The Company has been awarded a contract valued at approximately 
$125 million from the 
Florida Department of Transportation (FDOT) to replace the 
State Road 405 
Indian River Bridge over the NASA Causeway near 
Cape Canaveral, Florida. This bridge provides the main access to 
Kennedy Space Center and 
Cape Canaveral Space Force Center. The work is expected to commence during the fourth quarter of 2021 and be completed in the fourth quarter of 2024.

In addition, the Company has been awarded a contract valued at approximately 
$67 million from the 
Port of Port Arthur to construct the Berth 6 
Expansion Project in 
Port Arthur, Texas, that will allow for significant additional berthing capacity at the Port. The project is expected to commence in the fourth quarter of 2021 and be completed in the third quarter of 2024.

“Orion has a strong track record of helping modernize and upgrade critical infrastructure,” said  Mark Stauffer, Orion’s President and Chief Executive Officer. “The NASA Causeway project marks our fourth bridge project to be awarded recently, and along with the Berth 6 Expansion, not only provides significant backlog to our Marine segment, but reaffirms Orion as a leading contractor for building and rebuilding our nation’s infrastructure.”

About Orion Group Holdings

Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental 
United States, 
Alaska, 
Canada and the 
Caribbean Basin through its marine segment and its concrete segment. The Company’s marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The Company is headquartered in 
Houston, Texas with regional offices throughout its operating areas.

Forward-Looking Statements

The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the provisions of which the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as ‘believes’, ‘expects’, ‘may’, ‘will’, ‘could’, ‘should’, ‘seeks’, ‘approximately’, ‘intends’, ‘plans’, ‘estimates’, or ‘anticipates’, or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, outlook, assumptions, or goals. In particular, statements regarding future operations or results, including those set forth in this press release and any other statement, express or implied, concerning future operating results or the future generation of or ability to generate revenues, income, net income, profit, EBITDA, EBITDA margin, or cash flow, including to service debt, and including any estimates, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward looking statements also include estimated project start date, anticipated revenues, and contract options which may or may not be awarded in the future. Forward looking statements involve risks, including those associated with the Company’s fixed price contracts that impacts profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints and any potential contract options which may or may not be awarded in the future, and are the sole discretion of award by the customer. Past performance is not necessarily an indicator of future results. In light of these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company’s plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise.

Please refer to the Company’s Annual Report on Form 10-K, filed on 
March 2, 2021, which is available on its website at www.oriongroupholdingsinc.com or at the SEC’s website at www.sec.gov, for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts.

Orion Group Holdings Inc.
Francis Okoniewski, Vice President Investor Relations
(346) 616-4138
[email protected]
www.oriongroupholdingsinc.com

Robert Tabb, Executive Vice President & CFO
(713) 852-6500
www.oriongroupholdingsinc.com

Source: 
Orion Group Holdings, Inc.

Great Lakes Announces Partnership with Project Vesta

 

HOUSTON, Sept. 29, 2021 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (“Great Lakes”) (NASDAQ: GLDD), the largest provider of dredging services in the United States announced today a first-of-its-kind partnership with Project Vesta, a clean technology pioneer developing a new way to use sand to remove excess carbon dioxide from the atmosphere.

“We are committed to robustly furthering the science of Coastal Carbon Capture,” said Tom Green, CEO of Project Vesta. “Our partnership with Great Lakes will enable us to accelerate our research and help coastal communities fight both the cause and symptoms of climate change.”

Known as “Coastal Carbon Capture”, Project Vesta’s method accelerates the earth’s natural carbon removal process by using a natural rock turned into carbon-removing sand. According to a report by the National Academy of Sciences, this technique has the potential to remove billions of tons of carbon dioxide from the atmosphere and reduce ocean acidification. Its newly discovered potential has been heralded by universities and major scientific institutions, and has been highlighted in The New York Times, The Guardian, Popular Science and The Atlantic.

 “This partnership will help make Great Lakes a more effective participant in the effort to address coastal erosion and climate change impacts,” said Great Lakes’ Senior Vice President Bill Hanson. “We are proud to raise the bar on climate-change fighting technologies, and invite others in the coastal resilience industry to join this important cause.” 

Great Lakes is the first member of the global dredging industry to announce participation in Project Vesta’s initiative and represents a bold new sustainability approach. The two organizations will pursue joint research goals and develop new methods for the safe, effective use of coastal carbon capture.

The Company

Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) is the largest provider of dredging services in the United States. In addition, the Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 131-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprising over 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking” statements as defined in Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), the Private Securities Litigation Reform Act of 1995 (the “PSLRA”) or in releases made by the Securities and Exchange Commission (the “SEC”), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Great Lakes and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. These cautionary statements are being made pursuant to the Exchange Act and the PSLRA with the intention of obtaining the benefits of the “safe harbor” provisions of such laws. Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future events.

Although Great Lakes believes that its plans, intentions and expectations reflected in this press release are reasonable, actual events could differ materially. The forward-looking statements contained in this press release are made only as of the date hereof and Great Lakes does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.

For further information contact:
Tina Baginskis
Director, Investor Relations
630-574-3024

Thursday, September 30, 2021

Orion Group Holdings (ORN)
High Bidding Activity Finally Delivers Large Awards

Orion Group Holdings, based in Houston, Texas, is a specialty construction company within the Marine and Industrial Construction sectors, with operations focused in the continental United States and Caribbean. Revenue is split roughly 50/50 between a Marine Construction segment that provides marine facility, pipeline and structural construction services and a Commercial Concrete segment that provides turnkey concrete services in the light commercial and structural construction markets.

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

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

Two large Marine awards of ~$192 million announced. High bidding activity finally delivers large multi-year work. The Florida Department of Transportation (FDOT) awarded a contract of ~$125 million for bridge replacement work. Also, the Port of Port Arthur (TX) awarded a ~$67 million contract to construct the Berth 6 Expansion Project. Work on both projects should start in 4Q2021 and run into late 2023.


Recent low bids pending award turn into final awards of $22 million, with options that could add $19 million of work.  As highlighted in our two most recent notes, low bids pending award exceeding $40 million implied that awards were imminent. After the close on Wednesday, three Marine projects total of ~$22 million were awarded, with options of ~$19 million. All of the work should start in 4Q2021 …

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. 

Thursday, September 30, 2021

Great Lakes Dredge & Dock (GLDD)
3Q2021 Awards Exceed $300 million After Three New Awards

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.

Attractive award of $25.6 million posted late yesterday. The $25.6 million award for maintenance dredging of Portsmouth Harbor and Piscataqua River was posted on the DoD web site after the market closed yesterday. Work should start later this year and be completed in 1Q2022. The award is positive and there could be some added efficiencies since GLDD is currently working in the Boston Harbor.


Second award of $11.3 million posted earlier this week.  According to the government contracting web site, the Coastal Storm Risk Management Project in South Hutchinson Island, Florida was awarded to GLDD for $11.3 million. The work includes constructing a beach berm and planting dune vegetation to limit erosion …

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. 

 

Orion Group Holdings, Inc. Announces Contract Awards of Approximately $22 Million; Value Could Increase

 

HOUSTON–(BUSINESS WIRE)–Sep. 28, 2021– 
Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”) a leading specialty construction company, today announced three contract awards totaling approximately 
$22 million.

The Company’s Marine segment has been awarded three contracts valued at a combined 
$22 million to perform dredging services for the 
US Army Corps of Engineers (USACE) in waterways along the gulf coast, with the potential for the contract value on one award to increase by up to 
$19 million.

Two of these contracts were recently awarded by the USACE’s 
Galveston District for dredging work on the 
Texas coast. The first award valued at 
$8.8 million calls for the removal of up to two million cubic yards of maintenance material along the 
Gulf Intracoastal Waterway between 
Corpus Christi and 
Port Isabel. The second award, located in the 
Sabine Neches Waterway in 
Jefferson County, Texas, is valued at a base amount of 
$9.5 million for the dredging of 2.1 million cubic yards of material. If the USACE exercises all options for additional scope of work, the total value for this contract could grow to over 
$28 million.

The third award is a 
$3.5 million contract from the USACE’s 
Jacksonville District to dredge maintenance material from the upper channels in 
Tampa Harbor, in 
Tampa, Florida. Work on all three projects is expected to commence during the fourth quarter of 2021, with completion expected late next year.

“Maintaining our nation’s waterways is critical to the economy of our country and being able to continue to support the 
US Army Corps of Engineers in executing their mission is equally critical to Orion,” said  Mark Stauffer, Orion’s President and Chief Executive Officer. “We have several ongoing projects for the 
US Army Corps of Engineers and the addition of these projects adds to the growing backlog in our marine business.”

About Orion Group Holdings

Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental 
United States, 
Alaska, 
Canada and the 
Caribbean Basin through its marine segment and its concrete segment. The Company’s marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The Company is headquartered in 
Houston, Texas with regional offices throughout its operating areas.

Forward-Looking Statements

The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the provisions of which the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as ‘believes’, ‘expects’, ‘may’, ‘will’, ‘could’, ‘should’, ‘seeks’, ‘approximately’, ‘intends’, ‘plans’, ‘estimates’, or ‘anticipates’, or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, outlook, assumptions, or goals. In particular, statements regarding future operations or results, including those set forth in this press release and any other statement, express or implied, concerning future operating results or the future generation of or ability to generate revenues, income, net income, profit, EBITDA, EBITDA margin, or cash flow, including to service debt, and including any estimates, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward looking statements also include estimated project start date, anticipated revenues, and contract options which may or may not be awarded in the future. Forward looking statements involve risks, including those associated with the Company’s fixed price contracts that impacts profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints and any potential contract options which may or may not be awarded in the future, and are the sole discretion of award by the customer. Past performance is not necessarily an indicator of future results. In light of these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company’s plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise.

Please refer to the Company’s Annual Report on Form 10-K, filed on 
March 2, 2021, which is available on its website at www.oriongroupholdingsinc.com or at the SEC’s website at www.sec.gov, for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts.

Orion Group Holdings Inc.
Francis Okoniewski, Vice President Investor Relations
(346) 616-4138
[email protected]
www.oriongroupholdingsinc.com

Robert Tabb, Executive Vice President & CFO
(713) 852-6500
www.oriongroupholdingsinc.com

Source: 
Orion Group Holdings, Inc.

 

Orion Group Holdings, Inc. Announces Contract Awards of Approximately $22 Million; Value Could Increase

 

HOUSTON–(BUSINESS WIRE)–Sep. 28, 2021– 
Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”) a leading specialty construction company, today announced three contract awards totaling approximately 
$22 million.

The Company’s Marine segment has been awarded three contracts valued at a combined 
$22 million to perform dredging services for the 
US Army Corps of Engineers (USACE) in waterways along the gulf coast, with the potential for the contract value on one award to increase by up to 
$19 million.

Two of these contracts were recently awarded by the USACE’s 
Galveston District for dredging work on the 
Texas coast. The first award valued at 
$8.8 million calls for the removal of up to two million cubic yards of maintenance material along the 
Gulf Intracoastal Waterway between 
Corpus Christi and 
Port Isabel. The second award, located in the 
Sabine Neches Waterway in 
Jefferson County, Texas, is valued at a base amount of 
$9.5 million for the dredging of 2.1 million cubic yards of material. If the USACE exercises all options for additional scope of work, the total value for this contract could grow to over 
$28 million.

The third award is a 
$3.5 million contract from the USACE’s 
Jacksonville District to dredge maintenance material from the upper channels in 
Tampa Harbor, in 
Tampa, Florida. Work on all three projects is expected to commence during the fourth quarter of 2021, with completion expected late next year.

“Maintaining our nation’s waterways is critical to the economy of our country and being able to continue to support the 
US Army Corps of Engineers in executing their mission is equally critical to Orion,” said  Mark Stauffer, Orion’s President and Chief Executive Officer. “We have several ongoing projects for the 
US Army Corps of Engineers and the addition of these projects adds to the growing backlog in our marine business.”

About Orion Group Holdings

Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental 
United States, 
Alaska, 
Canada and the 
Caribbean Basin through its marine segment and its concrete segment. The Company’s marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The Company is headquartered in 
Houston, Texas with regional offices throughout its operating areas.

Forward-Looking Statements

The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the provisions of which the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as ‘believes’, ‘expects’, ‘may’, ‘will’, ‘could’, ‘should’, ‘seeks’, ‘approximately’, ‘intends’, ‘plans’, ‘estimates’, or ‘anticipates’, or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, outlook, assumptions, or goals. In particular, statements regarding future operations or results, including those set forth in this press release and any other statement, express or implied, concerning future operating results or the future generation of or ability to generate revenues, income, net income, profit, EBITDA, EBITDA margin, or cash flow, including to service debt, and including any estimates, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward looking statements also include estimated project start date, anticipated revenues, and contract options which may or may not be awarded in the future. Forward looking statements involve risks, including those associated with the Company’s fixed price contracts that impacts profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints and any potential contract options which may or may not be awarded in the future, and are the sole discretion of award by the customer. Past performance is not necessarily an indicator of future results. In light of these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company’s plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise.

Please refer to the Company’s Annual Report on Form 10-K, filed on 
March 2, 2021, which is available on its website at www.oriongroupholdingsinc.com or at the SEC’s website at www.sec.gov, for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts.

Orion Group Holdings Inc.
Francis Okoniewski, Vice President Investor Relations
(346) 616-4138
[email protected]
www.oriongroupholdingsinc.com

Robert Tabb, Executive Vice President & CFO
(713) 852-6500
www.oriongroupholdingsinc.com

Source: 
Orion Group Holdings, Inc.

Fish Fins Are Teaching Us the Secret to Flexible Robots and New Shape-Changing Materials

 

Segmented hinges in the long, thin bones of fish fins are critical to the incredible mechanical properties of fins, and this design could inspire improved underwater propulsion systems, new robotic materials, and even new aircraft designs.

 

The thin lines in the tail of this red snapper are rays that allow the fish to control the shape and stiffness of its fins. Image Credit: Francois Barthelat

 

Fins are not simple membranes that fish flap right and left for propulsion. They probably represent one of the most elegant ways to interact with water. Fins are flexible enough to morph into a wide variety of shapes, yet they are stiff enough to push water without collapsing.

The secret is in the structure: Most fish have rays – long, bony spikes that stiffen the thin membranes of collagen that make up their fins. Each of these rays is made of two stiff rows of small bone segments surrounding a softer inner layer. Biologists have long known that fish can change the shape of their fins using muscles and tendons that push or pull on the base of each ray, but very little research has been done looking specifically at the mechanical benefits of the segmented structure.

To study the mechanical properties of segmented rays, my colleagues and I used theoretical models and 3D-printed fins to compare segmented rays with rays made of a non-segmented flexible material.

We showed that the numerous small, bony segments act as hinge points, making it easy to flex the two bony rows in the ray side to side. This flexibility allows the muscles and tendons at the base of rays to morph a fin using minimal amounts of force. Meanwhile, the hinge design makes it hard to deform the ray along its length. This prevents fins from collapsing when they are subjected to the pressure of water during swimming. In our 3D-printed rays, the segmented designs were four times easier to morph than continuous designs while maintaining the same stiffness.

 

The segmented nature of fish fin rays allows them to be easily morphed by pulling at the bottom of the ray. Francois Barthelat

 

Why it Matters

Morphing materials – materials whose shape can be changed – come in two varieties. Some are very flexible – like hydrogels – but these materials collapse easily when you subject them to external forces. Morphing materials can also be very stiff – like some aerospace composites  – but it takes a lot of force to make small changes in their shape.

 

 

It
requires much more force to control the shape of a continuous 3D-printed ray
(top two images) than to morph a segmented ray (bottom two images). Image Credit: Francois Barthelat

 

The segmented structure design of fish fins overcomes this functional trade-off by being highly flexible as well as strong. Materials based on this design could be used in underwater propulsion and improve the agility and speed of fish-inspired submarines. They could also be incredibly valuable in soft robotics and allow tools to change into a wide variety of shapes while still being able to grasp objects with a lot of force. Segmented ray designs could even benefit the aerospace field. Morphing wings that could radically change their geometry, yet carry large aerodynamic forces, could revolutionize the way aircraft take off, maneuver and land.

What Still Isn’t Known

While this research goes a long way in explaining how fish fins work, the mechanics at play when fish fins are bent far from their normal positions are still a bit of a mystery. Collagen tends to get stiffer the more deformed it gets, and my colleagues and I suspect that this stiffening response – together with how collagen fibers are oriented within fish fins – improves the mechanical performance of the fins when they are highly deformed.

 

What’s Next?

I am fascinated by the biomechanics of natural fish fins, but my ultimate goal is to develop new materials and devices that are inspired by their mechanical properties. My colleagues and I are currently developing proof-of-concept materials that we hope will convince a broader range of engineers in academia and the private sector that fish fin-inspired designs can provide improved performance for a variety of applications.

 

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It represents the research-based findings and opinions of Francois Barthelat Professor of Mechanical Engineering, University of Colorado Boulder

 

Suggested Reading:

Emerging Biotech Opportunities from an Emerging Health Problem

Developing Drugs with the Help of Transcription Factors

Novel Ways to Combat Antibiotic Resistance

Essential Metals in the Health Sector

 

Noble Capital Markets Uranium Power Players Investor Forum – August 31, 2021 Starting at 9:00am EDT The Noble Uranium Power Players Investor Forum is a virtual conference bringing together leading companies involved in the exploration and production of uranium. The Investor Forum is free and open to all registered users of Channelchek … Preview the companies

 

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