Tuesday, March 23, 2021
Great Lakes Dredge & Dock (GLDD)
Added Awards Announced
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.
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Two major dredging awards announced totaling $90.3 million including the formal announcement on known work and one new award. Yesterday, two major dredging awards for $90.3 million were announced. The awarded work includes: Boston Harbor Navigation Improvement Project-Phase 3 (Capital work for $61.8 million), and Rehabilitation Effort for the Panama City Beaches Coastal Storm Risk Management Project (Coastal Protection for $28.5 million).
Awards add to the four awards for $60.9 million announced in January to bring 1Q2021 awards to $151.2 million. Please note that the January awards were included in year-end 2020 backlog. The four awards (three maintenance and one coastal protection) include a total work of $60.9 million in Florida and Georgia. Three of the four awards should be completed in 1Q2021 and the fourth extending out into …
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