secwatch.observer — SEC 8-K summary
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Issuer:     Great Lakes Dredge & Dock CORP (—)
CIK:        0001372020
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001171843-24-002595
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1372020/000117184324002595/0001171843-24-002595-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1372020/000117184324002595/f8k_050624.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-002595

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer