Great Lakes Q1 net income $21M, adjusted EBITDA $42.9M; backlog $879M

Great Lakes Dredge & Dock CORP

2024-Q1 EPS reported $0.31 revenue$198,660,000

Q1 2024 net income $21.0M vs net loss $3.2M in Q1 2023; revenue $198.7M (+$40.7M YoY).
Adjusted EBITDA $42.9M, best quarter since Q4 2021; gross margin 22.9% (7.7% a year ago).
Dredging backlog $879.4M, 77% capital projects; low bids/options pending $203M.
Entered $150M second-lien credit agreement in April to fund new build program and liquidity.
New hopper dredge Galveston Island operational; sistership Amelia Island due 2025.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Great Lakes Dredge & Dock CORP reported the first quarter ended March 31, 2024 results: revenue $198.7 million, net income $21.0 million.

Period: the first quarter ended March 31, 2024
Revenue: $198.7 million
Net income: $21.0 million
Result: reported results

Exact text from the filing

provider of dredging services in the United States, today reported financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights Revenue was $198.7 million Total operating profit was $31.5 million Net income was $21.0 million Adjusted EBITDA was $42.9 million Management Commentary Lasse Petterson, President and Chief Executive

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Source: SEC EDGAR

accession 0001171843-24-002595

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