Movers and SHAKERS
Wednesday, May 6, 2020
Great Lakes Dredge & Dock (GLDD)
Exceptional quarter to start the year on a positive note.
Great Lakes Dredge & Dock Corp is a provider of dredging services in the United States. The company only's operating segments is Dredging. Dredging involves the enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Its projects portfolio includes Coastal Restoration, Coastal Protection, Port expansion, and others.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
High equipment utilization and strong project execution drove higher profitability. Record 1Q2020 operating results beat expectations across the board due to strong growth in revenue, gross profit and EBITDA.
Increasing 2020 EBITDA estimate to $159 million from $140 million. 1Q2020 will be best quarter of year, but outlook remains positive. Similar to last year, 1Q2020 is likely to be the strongest quarter of the year. While revenue and gross margin are likely to moderate over the rest of the year due to planned fleet downtime, several factors are positive for...
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.