Great Lakes Dredge & Dock Corporation exceeds Q4 2023 earnings expectations with $0.32 per share and sets a record backlog of $1.04B, primarily in capital projects.

Great Lakes Dredge & Dock Corporation (GLDD) had a successful Q4 2023 with better-than-expected earnings, surpassing expectations of $0.09 per share with $0.32 per share. The company managed to secure a record backlog of $1.04 billion by the end of the year, with 71% of it in capital projects. The financial results were driven by strategic cost reduction initiatives and modernizing its fleet. In 2023, the company took delivery of the Galveston Island and Amelia Island dredges.

February 15, 2024
4 Articles