Research – Great Lakes Dredge (GLDD) – Awards Boost Confidence

Thursday, June 20, 2019

Great Lakes Dredge & Dock (GLDD)

Two New Awards Bolster Confidence in 2019 Outlook

Great Lakes Dredge & Dock Corp is a provider of dredging services in the United States. The Company operates in two operating segments namely Dredging and Environmental, and Infrastructure.

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

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

  • New contracts announced and 2019 outlook remains solid. Two new contracts for $41.3 million of work were awarded over the past several days. The first award is a $20.97 million contract for hopper dredging in Galveston, Texas and the second award is a $20.3 million contract for a beach rehab project in Virginia Beach, Virginia. 
  • Backlog dropped in 1Q2019, but should rebound over 2H019. 1Q2019 backlog dropped about $132 million to $575 million in 1Q2019. Arguably, bidding activity is…





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