Stock Track | Great Lakes Dredge & Dock Stock Plunges Despite Solid Q3 Results

Stock Track

Nov 05, 2024

Shares of Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) plummeted 7.21% on November 5th, 2024, despite the company reporting solid third-quarter results. The Houston-based dredging services provider posted a net income of $8.9 million for the quarter, a significant improvement from the $6.2 million net loss recorded in the same period last year.

GLDD's revenue surged to $191.2 million, up 63.1% from $117.2 million in Q3 2023, driven by higher capital, coastal protection, and maintenance project revenues. The company's gross profit soared to $36.2 million, with the gross margin percentage increasing to 19.0% from 7.7% in the prior-year quarter, reflecting improved project performance.

The company's backlog reached a record high of $1.21 billion at the end of September 2024, providing solid revenue visibility well into 2026. GLDD secured several significant project wins during the quarter, including three port deepening projects and six beach renourishment projects, capturing a substantial share of the bid markets.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/1126621873"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"1126621873\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/1126621873?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-05 22:32","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1126621873","market":"us","top_or_hot":-1,"title":"Stock Track | Great Lakes Dredge & Dock Stock Plunges Despite Solid Q3 Results","media":"Stock Track","content":"<p>Shares of Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) plummeted 7.21% on November 5th, 2024, despite the company reporting solid third-quarter results. The Houston-based dredging services provider posted a net income of $8.9 million for the quarter, a significant improvement from the $6.2 million net loss recorded in the same period last year.</p>\n\n<p>GLDD's revenue surged to $191.2 million, up 63.1% from $117.2 million in Q3 2023, driven by higher capital, coastal protection, and maintenance project revenues. The company's gross profit soared to $36.2 million, with the gross margin percentage increasing to 19.0% from 7.7% in the prior-year quarter, reflecting improved project performance.</p>\n\n<p>The company's backlog reached a record high of $1.21 billion at the end of September 2024, providing solid revenue visibility well into 2026. GLDD secured several significant project wins during the quarter, including three port deepening projects and six beach renourishment projects, capturing a substantial share of the bid markets.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Great Lakes Dredge & Dock Stock Plunges Despite Solid Q3 Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Great Lakes Dredge & Dock Stock Plunges Despite Solid Q3 Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-11-05 22:32</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Shares of Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) plummeted 7.21% on November 5th, 2024, despite the company reporting solid third-quarter results. The Houston-based dredging services provider posted a net income of $8.9 million for the quarter, a significant improvement from the $6.2 million net loss recorded in the same period last year.</p>\n\n<p>GLDD's revenue surged to $191.2 million, up 63.1% from $117.2 million in Q3 2023, driven by higher capital, coastal protection, and maintenance project revenues. The company's gross profit soared to $36.2 million, with the gross margin percentage increasing to 19.0% from 7.7% in the prior-year quarter, reflecting improved project performance.</p>\n\n<p>The company's backlog reached a record high of $1.21 billion at the end of September 2024, providing solid revenue visibility well into 2026. GLDD secured several significant project wins during the quarter, including three port deepening projects and six beach renourishment projects, capturing a substantial share of the bid markets.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GLDD","symbol_name":"大湖疏浚船坞","start_time":0,"source_url":"","article_id":"1126621873","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1126621873","pubTimestamp":1730817166,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Great Lakes Dredge & Dock Corporation  plummeted 7.21% on November 5th, 2024, despite the company reporting solid third-quarter results. The Houston-based dredging services provider posted a net income of $8.9 million for the quarter, a significant improvement from the $6.2 million net loss recorded in the same period last year.GLDD's revenue surged to $191.2 million, up 63.1% from $117.2 million in Q3 2023, driven by higher capital, coastal protection, and maintenance project revenues","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"GLDD":"大湖疏浚船坞"},"translate_title":"尽管第三季度业绩稳健，五大湖疏浚和码头公司股价仍暴跌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GLDD":1},"content_text":"Shares of Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) plummeted 7.21% on November 5th, 2024, despite the company reporting solid third-quarter results. The Houston-based dredging services provider posted a net income of $8.9 million for the quarter, a significant improvement from the $6.2 million net loss recorded in the same period last year.\nGLDD's revenue surged to $191.2 million, up 63.1% from $117.2 million in Q3 2023, driven by higher capital, coastal protection, and maintenance project revenues. The company's gross profit soared to $36.2 million, with the gross margin percentage increasing to 19.0% from 7.7% in the prior-year quarter, reflecting improved project performance.\nThe company's backlog reached a record high of $1.21 billion at the end of September 2024, providing solid revenue visibility well into 2026. GLDD secured several significant project wins during the quarter, including three port deepening projects and six beach renourishment projects, capturing a substantial share of the bid markets.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}