Lasse Petterson

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/

GLDD ended 2024 with $1.2 billion dredging backlog

“Great Lakes had an outstanding 2024, with strong project performance and exceptional financial results,” said Lasse Petterson, president and CEO of Houston-headquartered Great Lakes Dredge & Dock Corporation (Nasdaq: GLDD), as the company reported financial results for the fourth quarter and year ended December 31, 2024.

Fourth quarter 2024 highlights

Revenue was $202.8 million
Total operating income was $30.0 million
Net income was $19.7 million
Adjusted EBITDA was $40.2 million

Full year 2024...

https://www.marinelog.com/inland-coastal/dredging/gldd-ended-2024-with-1-2-billion-dredging-backlog/

GLDD reports contracts worth $256.2M

Houston-headquartered Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), today reported the receipt of several dredging awards totaling $256.2 million.

The awarded work includes:

  • Mobile Harbor, Alabama Deepening and Widening – Phase 2A Dredging Project (Capital, Alabama, $65.9 million)
  • Port Everglades Sand Bypass Dredging Project (Capital, Florida, $59.8 million)
    Barnegat Inlet to Little Egg Inlet, Long Beach Island Beach Renourishment Project (Coastal Protection, New Jersey, $54.4 million)
  • Fir...

https://www.marinelog.com/inland-coastal/dredging/gldd-reports-contracts-worth-256-2m/

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/

GLDD books new dredging awards worth $173.7 million

Houston-headquartered Great Lakes Dredge & Dock Corporation reports that it has received a number of dredging awards totaling $173.7 million.

The dredging awards include:

  • Sabine-Neches Waterway Channel Improvement Project-Phase 1 (Capital, Texas, $62.8 million)
  • Great Egg Harbor Inlet Beach Renourishment Project (Coastal Protection, New Jersey, $33.8 million)
  • St. Augustine Shore Protection Project (Coastal Protection, Florida, $33.6 million)
  • Duval County Shore Protection Beach Renourishment...

https://www.marinelog.com/inland-coastal/dredging/gldd-books-new-dredging-awards-worth-173-7-million/

Another red ink quarter at GLDD

Shares in America’s largest provider of dredging services, Houston-headquartered Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), fell by 13.6% Wednesday after the company reported third quarter results that included a net loss of $6.2 million.

Third quarter 2023 highlights

  • Revenue was $117.2 million for the third quarter
  • Total operating loss was $5.1 million for the third quarter
  • Net loss was $6.2 million for the third quarter
  • Adjusted EBITDA was $5.3 million for the third quarter

“The...

https://www.marinelog.com/inland-coastal/dredging/another-red-ink-quarter-at-gldd/

New awards take GLDD dredging backlog to $1.1 billion

America’s largest provider of dredging services, Houston-headquartered Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), reports that it has booked recent awards totaling $177 million, taking its dredging backlog to approximately $1.1 billion.

The awards include:

  • Orange Beach, Gulf State Park, Gulf Shores Engineered Beach Renourishment Project (Coastal Protection, Alabama, $32.8 million)
  • Fire Island Inlet to Montauk Inlet, PL 84-99 Rehabilitation Project (Coastal Protection, New York, $27.1...

https://www.marinelog.com/inland-coastal/new-awards-take-gldd-dredging-backlog-to-1-1-billion/

GLDD reports a red ink quarter

Shares in Great Lakes Dredge & Dock Corporation (Nasdaq: GLDD) were down some 19% this morning as the largest provider of dredging services in the U.S. reported a net loss of $4.0 million for the quarter ended June 30, 2022.

Second quarter 2022 highlights

  • Revenue was $149.4 million in the second quarter
  • Total operating loss was $0.3 million in the second quarter
  • Net loss was $4.0 million in the second quarter
  • Adjusted EBITDA was $10.2 million in the second quarter

“Our second quarter results...

https://www.marinelog.com/inland-coastal/dredging/gldd-reports-a-red-ink-quarter/

GLDD exercises option with Conrad for second TSHD

Houston-headquartered Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) has exercised a contract option to build a second 6,500-cubic-yard-capacity trailing suction hopper dredge (TSHD) at Conrad Shipyard in Amelia, La.

With expected delivery in the first quarter of 2025, the new vessel will be a sister ship to the Galveston Island, which is presently under construction at Conrad with delivery set for early 2023.

Great Lakes’ hopper dredge fleet including the ATB tug Douglas B. Mackie and...

https://www.marinelog.com/inland-coastal/dredging/gldd-exercises-option-with-conrad-for-second-tshd/

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