Monday, October 04, 2021

Great Lakes Dredge & Dock (GLDD)
Move to Houston Triggers CFO Change

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.

New CFO arrives. Scott Kornblau has joined as SVP and CFO. He was previously SVP and CFO of Diamond Offshore Drilling and has more than 20 years of industry and financial experience. He will report directly to CEO Lasse Petterson and serve on the executive team. His responsibilities include strategic planning and financial reporting, in addition to investor relations. There should no change in the current strategic direction or financial strategy.


CFO change driven by relocation of HQ to Houston from Chicago.  Former CFO Mark Marinko left the company a short time ago to pursue opportunities in Chicago. We are not aware of any disagreements on financial reporting or other areas, including the planned entry into the offshore wind market. Mark played a major role in turning GLDD around and leaves the company on solid ground, as evidenced by the …

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.