Friday, September 25, 2020
Great Lakes Dredge & Dock (GLDD)
Impressive Quarter. 3Q2020 Awards to Date Total $428 million.
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.
3Q2020 awards now total $427.7 million. The scope of work is broad and it includes a total of 20 projects, including four capital awards for $180.6 million, seven coastal protection awards for $130.8 million and nine maintenance awards for $116.3 million. A coastal protection award for $10.6 million was posted yesterday and we had overlooked the awards announced in July in our last research note. Also, the 3Q2020 award number is even higher since there was an unquantified award in July from Bechtel for work on a LNG project.
July awards Awards for $51.1 million were announced on July 6th, including two coastal protection projects for $44.0 million and two maintenance projects for $7.1 million. August awards. Awards for $117.8 million were announced on August 20th, including two coastal protection projects for $39.2 million and four maintenance project for …
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.