Great Lakes Dredge and Dock

GLDD posts strong first quarter results

Houston-headquartered Great Lakes Dredge & Dock Company [Nasdaq: GLDD] today reported financial results for the first quarter ended March 31, 2025.

“Great Lakes had a great first quarter, with strong project performance and high utilization as all of our active dredges were operational,” said GLDD president and CEO Lasse Petterson. “We ended the quarter with revenue of $242.9 million, net income of $33.4 million, and adjusted EBITDA of $60.1 million. Our substantial dredging backlog stood at...

https://www.marinelog.com/inland-coastal/dredging/gldd-posts-strong-first-quarter-results/

OMSA adds four CEOs to its board

OMSA board member
Wes Bordelon

The Offshore Marine Service Association (OMSA) reports that four CEOs have joined its board of directors: Wes Bordelon, CEO, Bordelon Marine; Stacy Jo Stanley, CEO, Offshore Oil Services, Inc.; David Dantin, CEO Odyssea Marine; and Lasse Petterson, CEO, Great Lakes Dredge and Dock.

OMSA says that with the addition of these four executive leaders, it is paying homage to its roots while welcoming expanded opportunities in emerging energy frontiers.

OMSA board memberStacy Jo Stanley

“I am thrilled to...

https://www.marinelog.com/offshore/omsa-adds-four-ceos-to-its-board/

GLDD ends year with $1.04 billion backlog

Houston-headquartered dredging giant Great Lakes Dredge & Dock Corporation (Nasdaq: GLDD) yesterday reported financial results for the quarter and year ended December 31, 2023. The numbers seemed to please investors, with the company’s share price up by 17.8% at the end of the trading day.

HIGHLIGHTS

Fourth quarter 2023 results

  • Revenue was $181.7 million
  • Total operating profit was $30.5 million
  • Net income was $21.6 million (includes $5.6 million gain related to the termination of an offshore wind...

https://www.marinelog.com/inland-coastal/dredging/gldd-ends-year-with-1-04-billion-backlog/

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