![]() The company mainly banks on strong domestic dredging operations, high equipment utilization, solid project execution and savings from restructuring. Great Lakes is the largest provider of dredging services in the United States. Strong Bidding & Project Execution Bodes Well Also, GLDD is adjusting its general and administrative, overhead cost structures and dredging fleet to reflect the changed market conditions, which have already led to substantially reduced costs in 2023. It has taken swift and proactive action on cost reductions and fleet adjustments. Despite facing continued challenges related to weather delays in the Northeast and a lower-than-normal amount of capital work, the company benefited from more project work for the vessels and initiatives undertaken to improve profitability. Recently, the company reported its first-quarter 2023 results. Currently, GLDD has a Growth and Momentum Score of B. The Zacks Consensus Estimate for 2023 earnings is currently pegged at 10 cents, up 123.8% year over year on 4.5% revenue growth. The upside in the recent price movement can be attributable to solid earnings growth expectations and the VGM Score. The stock gained 15.3% in the past three months versus the Zacks Engineering - R and D Services industry’s 0.5% fall. In the after-hours trading session on May 30, its shares inched up 0.62%. The work is estimated to be complete by Apr 14, 2026. Per the contract, GLDD will build and maintain hopper dredging of the Freeport Harbor Channel. Great Lakes Dredge & Dock Corporation GLDD won a $157.4 million firm-fixed-price contract from the U.S.
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