Monday, October 03, 2022
Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States. In addition, Great Lakes is fully engaged in expanding its core business into the rapidly developing offshore wind energy industry. 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, comprised of approximately 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.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
More Awards. In the last week of the Federal government’s fiscal year, Great Lakes was the recipient of additional work. The Department of Defense contract awards reports four additional significant wins totaling a cumulative $109.8 million of potential new business.
Sole Awards. The Company received a $26.6 million award for dredging with work to be performed in Savannah, Georgia; Brunswick, Georgia; Wilmington, North Carolina; Morehead City, North Carolina; and Charleston, South Carolina; a $12.195 million contract for dredging with work to be performed in Irvington, Alabama; and a $21.531 million award for beach re-nourishment in Cape May, New Jersey.
Get the Full Report
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.