Tuesday, February 16, 2021

Great Lakes Dredge & Dock (GLDD)
Quarterly Call Will Reinforce January NobleCon17 Appearance

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.

4Q2020 Results out tomorrow morning and call at 10am EST. Number is 877-377-7553 and ID is 4967097. Our 4Q2020 EBITDA estimate is $33.5 million with gross margin of 21.0%. We will be looking for color in the following areas: 2021 bid market outlook; Tone of bidding activity and visibility of projects; Impact of competition; Margin direction; Update on newbuild Hopper Barge One; Timing of FID and capex on newbuild Hopper Barge Two; Timing of FID and capex on newbuild rock dumper barge; Progress completing $75 million buyback program; Refinancing plan with bonds callable at par in May; and Timing and cost of corporate relocation to Houston.


Quarter call should reinforce positive outlook offered in NobleCon17 presentation in January.  CEO Lasse Petterson and CFO Mark Marinko offered a solid case for GLDD in a presentation in late January. Go to Channelchek: https://www.channelchek.com/news-channel/NobleCon17_Rebroadcast for replay info …

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.